welcome on intax Savers we have an exclusive training today we're going to be discussing how to pay yourself as an LLC in 2024 if you're a new LLC owner this is probably the most important video that you can watch there are so many mistakes that are being made when it comes to llc's and if you decide to establish an LLC in 2024 you're going to need to know how to pay yourself correctly so in today's live training I'm going to go over how you can pay yourself as an LLC and I'm going to talk about some of the mistakes that are made if if you're somebody that's watching this right now and you have a growing business this will be an important video for you you'll also learn the pitfalls that many LLC owners have but more importantly how you can transition that LLC over to an S corporation to save you some money on your taxes let's dive in all right guys so I'm not going to waste any time i'm first GNA uh say hello to some people that are in the room Millie de la Pride you are probably the first person that jumped in so good morning and happy Friday to you juicy fruit happy Friday Natasha David Kenneth Wright double speak telecast happy Friday and salute to you my friend thank you guys so much for joining me today I have about 17 llc's that I utilize and when I started my business I was actually starting out as a personal fitness trainer in Hollywood California I was the sole proprietorship but I realized that you know it probably made sense for me to establish a formal legal LLC just in the event that one of my clients who's training with me slips and Falls God forbid so I decided to set set up an LLC and that LLC that I established was a SM LLC for those of you that are unfamiliar with that acronym that stands for single member with the single member LLC you can only have one owner and at the time I was the only owner of the company so that was me Carlton now as an LLC owner early on you're going to have some expenses with your LLC and some of those expenses that I had personally was I was spending my money on getting uh equipment I had to spend money on uh travel I had to spend money on gas I had to spend money on lodging sometimes when I was uh growing my business I even had to spend money sometimes on um computers and as well as subscriptions as a business owner you're going to have tons of expenses that are applicable to your business but as a personal trainer these were some of the expenses that I had I had to spend money on getting the right type of equipment to be able to um you know help my clients I had to travel sometimes to and from uh LA to Orange County California I had to put gas in my car sometimes I was staying in hotels depending on if I was training a client that was out of state I had my laptop for online training business and then I also had certain subscriptions maybe I had my fitness pal or facebook.com whatever my subscriptions are that I had these were all business expenses for my LLC now here's the thing I want you to understand if you're a new LLC owner you can have these startup costs before you even make money the IRS will allow for you to deduct up to $5,000 in startup costs without making any money so if you're somebody that's starting a business right now you you can deduct your first $5,000 this year even if you don't get your business off the ground even if you don't make any profits this year but any expenses that exceed $5,000 have to be amortised or deducted over the course of time and typically that's over 10 to a 15-year period but here's the thing as you start making money in your LLC one of the things that you're going to want to do is you're going to want to figure out how do I get money out of the LLC to myself and there are really only two ways in which LLC owners can get paid LLC owners can get paid and let me make sure I write this at the top how to get paid as an LLC owner you can get paid in the form of distributions or you can get paid in the form of a salary I want to talk about distributions versus salary when I got started with my business I didn't know the differences between distributions or salaries I didn't go to school to try to become a tax accountant I didn't really start studying tax and accounting until I was about 22 years old after I had already graduated college so for me being a business owner was just about making money and whenever I need to spend money in the business I'm just going to spend the money in the business or I'm just going to take it out and transfer the money to myself anytime you take money out of an LLC via a transfer or a withdrawal that is called a distribution and what I want you to understand and probably one of the biggest benefits to being self-employed is when you take a distribution at the time that you take the distribution the money that you take from your business's bank account is not taxed you have tax-free money at least for the time being it is not taxed this is one of the benefits to being a business owner as a business owner you make money first you spend money second and you pay Uncle Sam third when you're a W2 taxpayer you make money pay taxes and you spend what's left over there is a difference and that's part of the reason why I I do like Entre rship I like being able to have control over my money before I have to pay the IRS but when you take distributions you have to realize because that money is not being taxed just yet you have to be mindful over how much money you're taking out of your LLC so if I had an LLC that had $100,000 in it and I decided that I wanted to take $30,000 in distributions and I was going to distribute that money to my own personal checking account this distribution would be considered a tax free distribution and the reason why is because I haven't paid taxes on the money yet as soon as I transfer that money over from Chase Bank to US Bank to my personal checking account or if I'm banking at the same bank I have access to that money in my personal checking account that I can go spend I need to go travel somewhere or if I need to go pay for my rent or maybe you know my my dog is having a surgery I could take money out of the business and cover my everyday living expenses and that would be tax-free distributions in the gear come April 15th you're going to pay taxes on the balance that you have on your books and what I mean by that is just because you take $30,000 out of your LLC on your bookkeeping that $330,000 is not considered a tax deduction distributions are not tax deductions and this is the most important part that you have to understand as a new LLC owner just because you're taking out tax-free money out of your business does not mean later that you get to deduct that money from your taxable income I get it you're the business owner I understand that you need to be paid but the way in which llc's are established and the way in which llc's operate the owners of llc's do not get tax deductions when they take money out of the llc's now I said earlier there's two ways to get paid as an LLC owner you can get paid in the form of a distribution or you can get paid in the form of a salary if we decide to get paid in a distribution distributions are not tax deductions and if we want to do a distribution we can just transfer the money to our personal checking account and everything is easy peasy but what happens to that $100,000 that $100,000 just went down to $70,000 and that's the net amount that is in my bank account but it's not my net taxable income my taxable income is still going to be $100,000 even though I only have $70,000 left over in my bank account now let's just say that I decided I wanted to take a little bit more and instead of taking $30,000 out of the business I took $70,000 out of the business and I left that I'm left over with 30,000 in this scenario if you take a $70,000 dis give them some eyes in a face if you take $70,000 in a distribution from your LLC to your personal checking account and you left you left $30,000 in your business account you're still going to have taxable income of $100,000 let me know if this is making sense in the comment section okay now this is where many LLC owners get in trouble because they put this money in their personal checking account and then they go spend the money on liabilities and then when it's time to go to Uncle Sam come April 15th you end up owing more than you have in your checking account now you're getting a tax bill that says that you owe $32,000 but you only have $30,000 sitting in your business business bank account oh and that other 70,000 that you had you went and spent that on liabilities you decided to go on a vacation you decided to go and uh splurge on your wife's uh or on your uh anniversary you decided to splurge on your child's birthday it's totally fine but here's the thing that I want you to understand Uncle Sam does not care that you went and took the money out of your check out of your business account and put it into your personal account Uncle Sam cares about your taxable income and guess what distributions are not tax deductions so this is why you as a business owner have to make a decision ision right now if I'm going to be a business owner I have to be responsible with how I manage the money inside of my business because if I do not manage that money correctly and I take some of that money out and spend it personally which I'm allowed to do as a business owner but if I get irresponsible with how much money I spent AKA on liabilities I'm going to be in a situation where I'm on the hook with Uncle Sam and guess what Uncle Sam always wants his bread he's not not your true family member he is going to come for his portion so here is how we are going to pay ourselves as LLC owners we're going to do so with a budget in mind when you have $100,000 that you've made as a business owner some of this money is probably going to need to stay in the business to continue to allow for you to continue to grow your business but some of the money should come out and should be dispersed to you I tell business owners that 40% of your business's profits let me write this down 40% of profits should go to the owner so that means that $40,000 of my $100,000 should really be left for me to live off of and I should be able to take this out in a distribution and that should leave the other $60,000 in my llc's bank account now on $100,000 you're probably going to pay taxes right around 25 Grand so having $60,000 in your bank account is going to leave you with some money you're not going to be completely left with no money but you want to be able to make sure that you have enough money to actually live on and for many business owners they don't know how much money they should be taking out of their businesses I always recommend to my business owners to take around 40% of your business's profits as a distribution to yourself that means the other $60,000 is staying in the business's bank account we're still going to be taxed on 100K but you are able to take 40,000 out of your business account in the form of a distribution now you can go park this money into Vanguard or tdia marit trade or Merl Lynch and you can go grow the money and and invest the money and maybe you're going to take some of that money to actually go live off of and support your lifestyle or pay for some of your everyday expenses but that is your money here's the other thing if I decide to pay myself as an LLC owner what about taking a salary in combination with a distribution could I do that could I pay myself myself a W2 salary and then can I also take out tax free distributions is this something I am allowed to do as a business owner and you guys can put it in the comment section sorry my stick figures aren't coming out the best today but I'm going to make sure my arrows are on point because I don't play with arrows but if I'm were if I were to take some money out of my business can I take money out of my business in the form of a salary and in distributions or does it only have to be in distributions could I choose to do both maybe I want to give myself a W2 paycheck from my own business as opposed to just taking money out at random is that something I'm allowed to do as a business owner instead of just going into my bank account and just transferring money over to my personal checking account owners distribution can I just place myself on a salary if I know I'm making 100 Grand or 200 Grand a year and give myself a salary I'm going to see if we have any really smart people in the room here I'll wait business makes $100,000 selling T-shirts online Carlton needs $40,000 to live off of for the year should I give that $40,000 to myself in a distribution should I give that $440,000 to myself in the salary or do I have the ability to give myself both a salary and distributions ah okay if I'm an LLC owner I am not allowed to give myself a salary plus distributions unless unless I have transitioned my LLC to being taxed as an S corporation if I transfer my LLC over to an S corporation now I can take a salary and I can take distributions but you are probably wondering Carlton what's the point I mean if I'm an LLC owner and I could just take taxfree distributions and then transfer that money into Vanguard TDM marit TR Merl Lynch or spend it on whatever I need to spend it on why would I want to take a salary and have to pay payroll taxes why would I do that don't W2 people have to pay payroll taxes Carlton and have money taken out of their paychecks I'm an LLC owner why would I want to go into a place like paying into payroll taxes if I'm self-employed and I can make my money first spend my money second and then pay Uncle Sam third I totally get where you are coming from but this is where the real sauce starts to happen I want you to write this down if you have a notebook out self employment taxes it's like that weird person in the room that has a drink in his hand and you don't know why that person's at the party like who invited this person why is he drinking up all the alcohol and he's he's acting weird and he's creeping out everybody at the party how do we get him out you and your boys are talking in the back of the party like dude how do we get that self-employment person out of out of here and who invited him that is self-employment taxes it's the person in the party that nobody wanted there that drinks up all the alcohol and it smells that's self-employment tax and in case you did not know you will have to pay 15.3% % self-employment taxes on all of your business's profit as an LLC owner going back to that example of $100,000 if I take $40,000 out in the form of a distribution I'm left with $660,000 in my llc's bank account however that $100,000 I am going to pay taxes on it and I'm not just going to pay taxes to Uncle Sam the IRS I'm not just going to pay taxes to the state if I'm in a state that taxes me I'm going to pay self-employment taxes and that is 15.3% self-employment tax is a combination of Social Security and Medicare tax and it's one of the many reasons why business owners will seek out a new CPA because many CPAs are not paid to advise advise you on when to switch from an LLC to an es Corp they're paid to file your tax returns that's why I'm a tax professional I don't sit here and do tax returns I'm on YouTube live today find me another tax professional that's sitting on YouTube live teaching you self-employment taxes I will wait I'll wait me and Mark kler are the only two people that are doing this guys you guys know this right now if you if you've been on the internet there's not other tax professionals during season that can afford to be able to sit here on YouTube live and still be able to put food on the table because guess what they have to do right now they have to file tax returns guess what I don't have to do right now I don't have to file tax returns I'm not a tax accountant I am a tax professional I study tax law and I'm going to teach you how to leverage tax law how to reduce your tax bill and then I'm going to go give it to an accountant to file your returns and I'm not discrediting accountants just not all accountants are made made equal so lock in with me here self-employment taxes Carlton can you go over self-employment taxes I want to know what makes up this 15.3% okay 6.2% is social security 1.45% is Medicare if I add these two up it comes out to 7.65% hm okay Carlton you said self-employment tax is 15.3% oh oh I know don't get me wrong I'm GNA get to it I know it's 15.3% 7.65% is just the employee side but Carlton what do you mean I'm I'm an LLC owner I'm an LLC owner what do you mean employee oh yeah I you're you're your own employee when you're an LLC owner you didn't know that you're your own employee when you're in LLC owner you have to pay 7.65% for being your own employee Carlton I'm an owner of my company shouldn't I be the employer oh don't forget we will come and get you on the other side that 7.65% is also on the employer side if I add these two together it comes out to roughly 15.3 perc that 15.3% is so self-employment taxes and if you're a self-employed business owner it is going to be your Achilles heel to you saving money in taxes if you don't know when to switch over to an S corporation so right off the top right being shaved off the top I got to pay $15,300 in self-employment taxes on $100,000 of business income guys I'm no longer a six-figure earner anymore am I I mean on my balance sheet it said I made six figures but shoot after paying self-employment taxes I'm not a six figure business anymore $15,300 that's just self-employment taxes I'm not even talking about the federal taxes that you owe to Uncle Sam or the state taxes that you're going to owe to your state this is simply self-employment taxes now a 100,000 all of my business's income is being taxed at 15.3% all of my business's income is being taxed at 15.3% that kind of sucks is there a way Carlton is there a way in which you can show me how I can have less of my business's profit taxed as a whole is there anything that I can do to show the government that I don't want all of my money being subject to self-employment taxes I got you here's what we're going to do we're going to submit this nice little document to the IRS called the 2553 form you're going to want to write this down and this 2020 or this 2020 this 2553 form is going to be a selection document that we are going to sign and you know what we're going to put on it we're going to put our llc's name on it the address to our LLC the date in which we started our LLC and we're going to switch that LLC over into S corporation status Carlton does that mean I'm no longer an LLC owner you're still an LLC owner you're just taxing yourself as an S corporation Carlton I don't understand I set up an LLC what do you mean I'm taxing myself as an S corporation I want you to think about it like this when you met me when you met me and you came through the door and I got to see you for the very first time and man you're so beautiful I met you and you had no jacket on you were just an LLC owner you came in you had no jacket on You're just showing your skin after hanging out we decided it made sense for you to get a jacket so we decided to put a jacket on you that jacket that we're putting on you is the 2553 form you're still in LLC underneath the jacket but I wanted to put this 2025 or 2553 form and wrap it around you to transition you over to being an S corporation you now have S corporation status with the IRS even though you formulated your single member LLC as an LLC in your your state Arizona Florida wherever you're located make sense now because you switched over to an S corporation it's going to change the amount of taxes that you're going to pay as a whole because it's going to change the way the IRS views you as a business owner let's go back up to that example I said this at the very start that there's two ways to get paid as an LLC owner you can take distributions or you can take a salary but you can't take a salary unless you're taxed as an S corporation Carlton what's the difference between an escorp and an LLC how much you're going to pay in self-employment taxes that is the difference so let's go over this self-employment taxes is 15.3% it's made of Social Security and Medicare we did the math already $15,300 on 100K holy crap that's a lot of a lot of money that has to go and we haven't even factored in your other taxes yet let's just say that your tax tax at a flat rate 20% you're going to have another $20,000 that you're going to have coming off the top right that's 30 that's $35,500 that you paid in taxes guys right you're wondering like damn does it even make sense for me to be a business owner if I have to dish out 35 Grand to be self-employed I mean W2 taxpayers pay far less than me see what I'm getting at here so how can you around this because you're right a W2 taxpayer who's making $100,000 yeah they're they're probably going to pay a little bit less than you because they're not paying both the employer side and the employee side they're not paying 7.65% twice they're paying 7.65% once so how can you reduce the amount of taxes that you're paying we have to transition over to an S corporation and and we have to pay ourselves differently now with this new S corporation that we've established we can pay ourselves in two ways just like the LLC owner we can pay ourselves in the form of a distribution which is us taking money out of our business's bank account and transferring it to ourselves or we can give ourselves a W2 salary and guess what when you're in escorp you have to give yourself a W2 salary in combination with taking distributions it's a rule that you actually signed up for when you said I want to switch over to becoming an S corporation here's what I want you to understand going back to that example where you decided to take $440,000 from your LLC remember I said 40% of profits should always go to the business owner that 40,000 that you took took out of your LLC was a distribution that wasn't salary could you as an LLC owner switch over to an S corporation take $40,000 out as distribution so that's tax-free money and then process a W2 payroll in the amount that you took out as distribution oh hold on a second Carlton hold hold on a second I don't want to get lost here I want to follow you Carlton so explain it slower I got you I got you we make $100,000 by starting our own online t-shirt business I always go with t-shirts we'll go with candles today today we're going to go with candles I got a candle yeah I got a candle on behind me today we're going with candles so we make $100,000 with our online candle business you need4 ,000 to live off of so you start transferring yourself money every month at the end of the year we determined that you transferred $40,000 of taxfree distributions from your business's bank account to yourself just so you guys are following here this was the distribution normally if you're an LLC owner you're still going to get taxed on that $100,000 right but because you decided to switch over to an S corporation you have to make yourself a W2 employe underneath your S corporation so Carlton and your tax team decide to process payroll for you guess what we process payroll for $40,000 so now we're going to go ahead and process a W2 to you in the amount of $40,000 guess what that does it transitions your distribution and it changes it to payroll now you've paid yourself a salary guess what a salary is for a business owner guess what a salary is for a business owner like you and I anyone want to comment come on come on come on Millie come on smok and fitness Gro 27 King jagen what is this to us thank you it's a deduction and that's what we're looking for we're looking to convert distributions into tax deductions now my businesses net profit is 60,000 and guess what I'm only going to be subject to federal taxes state taxes on the 60,000 this $40,000 here is the amount that's going to be subject to the 15.3% self-employment taxes all right Carlton Carlton make all of this make sense I'll do the math for you $440,000 times 15.3% who whoa 40,000 [Music] 15.3% 40,000 times 15.3% is [Music] $6,100 that is what you would pay in self-employment taxes if you were to take a $40,000 salary from your S corporation the LLC owner who's not able to deduct that $40,000 is going to be taxed on $100,000 at$ 15.3% which is 15,000 $15,300 now if I subtract 15,300 from 6,120 I'm left over with $99,100 in tax savings there it is let me know if this is making sense if you're following along here I want to make sure that this makes sense in this example here I'm an S corporation owner and this is my W2 salary Carlton where did you get the 40,000 from remember our business made a $100,000 in the year selling T-shirts online I decided to take out $40,000 in distributions because I needed to live Carlton told me that b the the owner of the company should should take around 40% of the business's profits so I took 40% out of the business throughout the year Carlton now because I switched over to an S corporation by filing form 2553 I know that I'm going to have to give myself a W2 salary before December 31st I don't have to give myself a salary every week I don't have to give myself a salary every two weeks I can give myself one paycheck for the entire year because I'm self-employed I can control whenever I give myself that salary so at the end of the year I decided to write myself a W2 in the same amount of money that I took out of my company AKA my distributions which was4 ,000 because the $40,000 was taken out as payroll instead of as a distribution now I get to deduct that from my business's income bringing my business's net profit to $60,000 instead of paying self-employment taxes on all of my money that I made in my business the $100,000 I get to take a tax deduction for paying myself now only $60,000 is being subject to ual taxes federal taxes by Uncle Sam state taxes if I'm in a state that taxes and guess what no self-employment taxes on my business's profits but Carlton if I'm self-employed I have to pay some level of self-employment tax it's called payroll taxes now that is your self-employment tax it is payroll taxes and you're going to pay payroll taxes or self-employment taxes at 15.3% and that's going to be $ 6,120 off of a $40,000 salary but if you never switched your LLC over to being taxed as an S corporation guess what you're going to pay 15.3% on all of your business's profit that's $15,300 per every $100,000 that's a difference that's a swing of $99,100 question because I I have a lot of you guys that are in crypto right now some of you crypto guys tell me what putting 9,180 in a Bitcoin will do in about two to three years from now they'll tell you Carlton crypto is going to go to the Moon just putting money into the S&P 500 at a conservative 8% that money is going to grow or triple within a five to 10 year period so if you're telling me how can you build taxfree wealth it's about having access to the right information because if you don't have access to the right information you're not going to make decisions and failure to make decisions prevents you from being able to build your wealth quicker most business owners who are growing their finances are making decisions not only about how they're structuring their entities but who's structuring their entities and you as a taxpayer need to have the right tax professionals on your team or you're going to risk overpaying on your taxes if this was complex to you that's that's an issue we got to work on getting you better education and simplifying the whole game of taxes as a whole many of my members who are inside of tax Alchemy get to join live coaching calls twice a week Mondays and Wednesdays and we're breaking down information like this all the time but if you're somebody that's watching this right now and you're like dude I need more I want to spend some time with Carlton I want to work with their team on figuring out some more strategies I'm encouraging you to sign up and grab a ticket to the taxfree wealth event the taxfree wealth event is an intentional event that I put on where I'm giving you access to strategies that I normally do not cover on my YouTube channel I'm spending five days going over Advanced Tax strategy Concepts and the reason why we need five days together is not because I love taxes so much that I I want to you you know put on the longest tax conference out of any CPA or tax professional on the internet that's not the reason the reason why it's 5 days is because I'm giving you just amount of just the right enough tax information in a just a right enough time so that you're not overwhelmed we're going to have an hour each day to to go over tax information so it's really only five hours in total and if you're a VIP you'll get an additional 30 minutes of Q&A with me for many of the members who are signing up to join the taxfree wealth event they're signing up by going to our website atth taxfree wealth challenge.com and you can watch this quick little video to learn more about the challenge I've had hundreds of my clients go through the tax-free wealth Challenge and they've been on these calls you don't have to already have a business you don't have to already own real estate you don't have to already have an S corporation if you're someone that just wants to learn more about taxes as a whole and you care about wealth building you're going to want to be at an event like this and get at least access to the recordings so you can leverage those recordings with your CPA your tax professional your husband your wife as you guys are looking to build wealth on these five days I've already mapped out what I'm teaching on teaching on day one mindset why is mindset important because I'll be honest with you if you don't get your mind right none none of the other things that I'm going to talk about throughout day two through day five even matter they don't even matter if you're not the type of person that even cares about saving money in taxes it probably isn't a good event for you if you care if you care about making sure you can pay the most amount in taxes this is not the event that you're going to want to sign up for I want people here at this event who actually care about legally paying the least amount of taxes possible and I want you to have the right mindset coming into this event so yeah day one is going to be mindset day and day two is probably going to be a very important day for a lot of you guys because if this was complex man buckle up cuz day two is advanced inti structuring we're not just going to be talking about llc's and S corporations I need to introduce management companies having shell corporations also how to structure things to be underneath your trust I care a lot about asset protection but I also care about making sure we do it the right way so if you're here you're watching me right now day two is one of the most important days for me to teach on because how I built tax Alchemy is on advanced enti structuring in day three will be Otto and home office deductions day four will be income shifting strategies and day five will be Advanced real estate tax strategies to get access to this link my team is posting the link right now in the comment section I'll post it as well but if you're somebody that's serious about saving money and taxes sign up as a VIP don't even waste any time signing up as a journal admission I won't even get to know who you are you won't be in the VIP Community where I'm at where we're already talking with other entrepreneurs about what we're working on I won't be able to answer any of your questions because I won't be able to see you VIPs you guys get a completely different Zoom room for each day of the conference everything's online everything's digital but also you're going to get a tax strategy opportunity finder that allow for us to locate strategies that you're not implementing so we can determine if it makes sense for you to do some Advanced Tax planning so be sure to sign up as a VIP we kick off March 18th at 6:30 Eastern 3:30 specific Standard Time Journal admission starts at 7:00 p.m. and journal admission will get access to the recordings as well some of the things I wanted to show you guys here that I gave out yesterday when I did this YouTube live yesterday is I gave out my my uh program my helping hand children on payroll course this course is only about a few hours but it will teach you how to place your children on payroll which I believe is a a great income shifting strategy this program although I don't sell online if you purchase when you purchase as a VIP for the next 10 people because I'm going to give this out again today you'll get access to my children on payroll program it is important for you to have access to this information before you show up to day one I'm going into the advanced stuff throughout the training but I want to make sure some of the basic stuff like placing your children on payroll you've already had access to this information so you can ask me questions on how to place your children on payroll when you get to the taxfree wealth event don't be that person that shows up with no questions just eager to be there come already prepared go into the training that I'm providing you take these videos seriously so that when you show up and you get that opportunity to talk to me that I can answer the questions for your specific situation so yes members who sign up today for the first 10 people that sign up as VIP um for an additional dollar you'll get my children on payroll guide I'm also going to give you my Advanced uh LLC tax strategy blueprint this program right here will teach you how to set up your LLC correctly in the year of 2024 but more importantly it'll teach you some of the basic write offs that I would like for you to take if you're a business owner you need to know how to pay yourself correctly and if you want access to this training over again broken down in a slower format I would encourage you to get access to this program because it's going to teach you how to pay yourself correctly how to take business meal write-offs vehicle write-offs travel deductions these are some of the things that I enjoy the most as a business owner and so I put that inside of this program and last but not least is the home office guide I know that we'll be covering Advanced home office and advanced vehicle deductions during the taxfree wealth challenge but I'm also giving you the home office guide here as well the reason why I'm giving this to you is it's important that you show up already having access to some of this information because I want to make it so easy for you to be able to implement Jax strategies there is a lot of gurus on on the internet and even more than I care to even Explore through but one thing is for certain there's a lack of people teaching you how to implement the right Tax Strategies on the internet there's tons of people talking about taxes on the internet when you show up to the taxfree well challenge please plan on learning how to implement the strategies with me because that is my promise to you again we kick off at 6:30 and for those of you guys that are wondering do I get a chance to work with you Carlton will I get a chance to talk with you this is your opportunity to work with me or to talk with me if you go to Carlton dennis.com and you go to my website you'll notice that I have no Consulting link or there's no calendar to book with me you can book with my sales team and my tax professionals but if you want to talk to me it's really only through this event or booking a golf with Carlton I had the pleasure of playing golf with 25 people last year that paid $10,000 to fly out to California to golf with me but not everyone can afford $10,000 plus their plane tickets their hotels to come golf with me for four or 5 hours but I know that you would really appreciate having four or five hours of my time if you would like to utilize my time correctly I'm encouraging you to sign up as a VIP and to show up early to the zoom call because success arrives early for those who are willing to wake up and get after it I will be there early and I'll be ready to answer your questions I want to stop and say thank you guys so much for jumping on today's training today's training was how to pay yourself as an LLC I'm going to show you guys real quickly the savings here on the iPad one more time if you're a business owner I would love for you to screenshot this and this might be a training that you want to go over with your CPA or your tax professional transitioning llc's over to S corporations honestly should no longer be considered a tax strategy heading into 2024 2025 that information should be so out and and exposed that I want all business owners to have that information around when they should be transitioning from an LLC over to an escorp to just save money I'll also let you know I leveraged 256 strategies just for the escort so if you think that I'm about to put on a 5-day conference and not give you some of that game you're playing yourself I do intend on teaching you those strategies I do intend on showing you my real estate portfolio how I structure my entities and we're going to have a good time together and also many of you guys will get the opportunity to work with me after the event and join tax Alchemy as a whole before I jump off here as always I want to congratulate some of you guys who purchased as a VIP because I know I'll will see you there congratulate Thomas uh Roos I'm going to congratulate Adam Adam Reginald I'm gonna congratulate pinch Noche uh Jennifer La Teemo cockfield Kendra Barnes Antonio Rosalez um Trent quos uh Harrison Burks um Mel at a gan and ownership exports congratulations to you guys for going ahead and grabbing your ticket it thank you guys for joining me on this live session and I look forward to seeing you guys at the taxfree wealth challenge March 18th cheers