Here are the questions I answered during our live call:
[00:05:00] Do I have to set up a payroll service to pay my children? Or can I pay them basically, as an outside contractor?
[00:16:11] I'm struggling to think of or come up with activities that my children could do within that business that would not make the IRS look at me funny. And so I was wondering if you had any suggestions about that?
[00:20:15] I have a revocable living trust, I have an LLC set up as an S corp. But I own all of it in my name and my husband's name. What's the implication of how I will file my taxes?
[00:30:00] I hired my partner to be my chief of staff to help me with something. How to acquire a co-living slash retreat space that we would be housing people on?
[00:35:59] I have an S Corp for myself. My wife has an S corp. I will implement Augusta rule in my corporation starting this year. Can my wife do the same thing for her company in the same house?
[00:44:26] My wife just got her own LLC. Her business has a DBA, it's a franchisee and we just signed the agreement. How's it gonna affect her P&L?
[00:53:50] I have a daughter who is three years old and her mother passed away a little over a year ago and left her the beneficiary of a $100,000 life insurance policy. What is my best course of action from here?
[00:58:53] How does the UTMA account work?
[01:02:16] What is the regular upkeep for a trust fund?
[01:03:30] Does it show up on your taxes if you have a revocable trust?
[01:04:35] Are there any benefits if I own an LLC? I have run zero business out of that. And I'm ready to create my wealth matrix. So is there a benefit to having the history of that over anonymity? Or should I just close that one out and then open a new one with the right structure?
[01:07:40] I just created my LLC and my whole company. How can I implement the Accountable Plan strategy effectively?
[01:16:05] I have an LLC, single member, and I don't have the anonymous holding company set up. Will I lose any tax benefits?
[01:26:51] How do you go about getting taxed as an S corp while still being an LLC?
If you missed this live call session, make sure to watch the replay to get the answers to these questions. And if you are getting value from it, post a video on our Facebook and tell us your experience and feedback. If you think that you could benefit from something else, or if you want us to discuss a specific topic, post a quick little video of yourself about the type of things that you're looking for.