How To Pay Yourself As an LLC [Follow this or lose money]

This is 18-minutes of free information. I am not here to sell you anything. The goal is to share information I've learned from speaking to so many small business clients who do business with my company. I do not have books, courses or seminars.

I own a company called JACK USA which started the Jumping Jack Tax Franchise where we now have 20 virtual accounting franchises in 6 states. We help small business owners scale their businesses FASTER by taking on daily tasks such as bookkeeping, accounting and other financial responsibilities so they can focus on MONEY MAKING tasks (Plus, we keep them in compliance)

Please turn on my post notifications. I do not have a consistent schedule set-up for uploading youtube videos.

[katrinaotto]

This used to be one of my most watched channels... sadly, it's been a while since i visited it has been a very rough year... i am experiencing one of the toughest phases of my life... Lost a fortune lnvesting in emerging companies. Hopeful, for a turnaround.

[triciaosborn]

JUST confirmed my LLC was approved 2 days ago, and JUST got my EIN this morning! This video popped up just at the right time! Thank you for posting. Blessings and favor to you and your business!

[HotdogJuice]

Make no mistake, he was not exaggerating when he says 100+ hours worth of work a week as a business owner.

[SadOne]

I have been looking for a breakdown like this for so long. I appreciate you, brotha! Just subscribed.

[bluemetaphor]

write a check to yourself from the BUSINESS account and deposit it into your personal account... on the check write draw so you separate yourself from the

[TheJoshcarter]

Could you possibly do another similar video that shows how this will differ for an LLC with more than one member?

[MJ-hdnr]

Thanks for keeping this professional! No music and over the top tactics and jokes are not necessary to get your point across. Only children need entertainment like that. Please don't change!😏

[favoredone]

This is great. As a New Business Owner and a Business Owner in the past, I was never good at paying my Taxes and end up owing the IRS. Thank You for this info! I will Subscribe. Yes, CASH IS KING!!! Save 10 Percent on all Profits. I would be in much better situation financially has i known this Years ago. 🙏🙌🙏🙌

[jerodhaywood]

I run my company with 5 accounts
25% owners pay
50% operating
15%taxes
10%profit

This is a one man service company. Still learning and thinking about how to expand to the next level

[eddygonzalez]

I got lost when you set the $5000.00 gross then you subtract $2000.00 for expenses that leave us with $3000.00 profit margin. My question here is do i start setting money away for self employment for federal taxes for operating expenses for savings etc etc from the $5000.00 or the $3000.00 I got lost when you took $2000.00 for expenses out the $5000.00 but then you mentioned again the operational expenses from the 3000.00 gross profit

[ChuckJacksontampaphotographer]

For someone who has been a sole proprietorship since 2004 and who has FINALLY transitioned to an LLC as of this month, this is helpful! Thank you!

[JayBeenCbosen]

This is beautiful and a eye opener. I’m about to start a LLC and needed this, Praise God for knowledge

[geraldgaddy]

Thanks Prince Donnel. Your the only person on YouTube who broke it down in details about how to pay yourself as a LLC - that I could understand. This is why it's good to listen to several people because everyone interprets it differently. Other people I listen to left out critical details. I subscribe to your channel. Peace.

[allann]

This is a great breakdown on a single person LLC for newcomers, like myself. Thank you.

[ShimmyJohnson]

@Prince Donnell PLEEEAAASEE drop that S-Corp heat ASAP. God Bless You and the Family, keep up the great work 🙌

[one-day-aa-time]

Lemme say this. Started my co last August. Currently paying ppl to tell me this. They are legit teaching me exactly what he is saying. Salute fr tho

[theRealestBarbieD]

For now I'm only paying myself with food and doordash 🤪 because all income I want to invest back in the business🤑

[jamericanprince]

This was perfect! Just what I needed. I been running my trucking company for going on 7 years. I started out grossing 6 figures out the gate, but didn’t have no structure with allocations, and just spent money out my business account for personal, entertainment, other investments, ect. Even they I was spending my like that I always made sure I had enough money in my business account just in case my truck break down. With what you just taught me this is a true game changer that’s fixing to take my trucking company to the next level. Thank you!

[kingrc]

Feels good getting lessons from someone that looks like you✊🏾

[hoodhumanitarianllc]

Hood Humanitarian LLC definitely took notes! Thank you