How to Pay Yourself as a Single Member LLC - Sherman the CPA

[Step-by-Step] How how to pay yourself through your single member LLC by Sherman the CPA.

Taxes for Single-Member LLCs work differently from Multi-Member LLCs, which is why this topic deserves its own video.

So if you are the sole owner of your business, meaning you have no partners at all, then this video was made for you.

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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).

[IAmLRose]

This is soooo good!!! I’m binging right now !!!! 💯💯💯

[XYRN]

Thanks Sherman… I am a S.M. LLC and soon will need more advice from your company… Damn This was WELL EXPLAINED…!

[FinancialFreedomMadeSimple]

It was a clear explanation, great video Sherman.

[Drganguli]

Your videos are very useful for new business owners

[MM-ehps]

You are so amazing!! This is such a complicated subject and you made it look so simple!! Thank you so much for all you do! I recommend your videos to everybody!

[mxrevival]

Excellent video. Hands down the best one I've seen yet after watching a seemingly endless amount of them back to back

[splatterdaynightmares]

Everyone always talks about the $100K startup. What about the really really super low amounts?

[YourAdjunctProfessor]

One of the most common questions I tend to see

[Givetheflowers]

Great job. You all speak very well and use relatable words and examples.

[shermanehylton]

Thank you for the information, I appreciate you.

[hcast]

Thank you for explaining so many different things so well. Is there by chance a video that may go into greater detail on the estimated taxes you mention to put money aside for when trying to figure out if you can pay yourself. There was also a mention of quarterly taxes? I am on the bubble of being able to pay myself but am not too sure about if I write myself a check do I deduct from that check what would be for estimated taxes? Or is there another strategy for that?

[biancajohnson]

Thank you so much 🙏 I love how easy to follow along and understand you made this video!! Thanks again 😃

[dltran]

Can you do one for multi member LLC? Esp for one member who lives in a different state.
I need more info on if
1. Estimated quarterly taxes should be paid on the 1065 or thr personal 1040.
2. Do I pay estimated taxes to the state where the LLC is or where I reside?
3. It's hard to figure if you make money the first year. Which makes it hard to estimate what you pay

[derekparker]

THANKS. I HAVE THE S CORP DESIGNATION FOR MY TRUCKING CO. I want to add Members to my Business to Scale.

[Hun]

Great reminder and accurate information

[ms.danamichelle]

Excellent information. Thank you!
Peace, Blessings, Love & Light,
✨💚✨💜✨

[Thesonshine]

I got lots of questions 😂😂 a sister having issues

[eugenehofmann]

I'm trying to get into a tax class so I can do my own and other ppl also

[JustLiving]

Hey Sherman, phenomenal video and thank you for putting this video content on there. I'm curious about the S Corp, does this mean that I made a mistake opening my business as an LLC? That for tax purposes I should have opened an S Corp instead? And if so, I see other folks also mention that there's ways to operate as an LLC but have a "S-Corp" hold this company so you can stay with the flat 21% tax rate

[mikesocy]

Hey! That is so helpful man and thanks a lot. One question is to know whether or not a new LLC registered in December 2021 will still have to file for the 2021 tax as well as the types of filing that would be required.