How To Take Your Distributions (MONEY) From An LLC

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Information How To Take Your Distributions (MONEY) From An LLC

Title	:	How To Take Your Distributions (MONEY) From An LLC
Lasting	:	5.31
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Views	:	19 rb

Great video Let’s say I haven’t contributed money but the llc has income through rents paid Can I distribute that money to myself as a member? brbrAnd if so am I right in assuming the llc will still pay taxes in that income but i the member will be shielded from paying taxes on the distribution (ie it won’t be taxed twice)?
Comment from : Daniel Osagie Imahiyerobo

My wife and I are the only members of a partnership LLC We have about 30 stocks and mutual funds in an LLC Schwab brokerage account We want to close the LLC as we are now retired and transfer those securities from the LLC Schwab account to our joint Schwab brokerage account We can do that transfer with a click of a mouse basically We would be transferring these assets in kind Does that create any kind of a taxable event? Thanks, Rick
Comment from : Rick Mansur

Are distributions considered an expense to the LLC?
Comment from : Cliff Henderson

Hi Clint, correct me if i'm wrong, but Distributions are taxed They just aren't taxed at the same rate as 'income', right? It sounded like you said 'distributions' arent taxed here Thx
Comment from : Not Listed

Hi Clint,brbrThanks for making this video! brbrQuestion- my LLC is currently a Partnership and we're looking to elect as an S-Corp brbrFrom your video, I guess we should simply be taking Distributions rather than "paying ourselves" by Salary?
Comment from : Channel 5IVE

Is there any way to research who existing partners are in an LLC? Before I invest, I would like to confirm who existing partners are
Comment from : Luke Lovoi

So you can’t turn income into a distribution
Comment from : paul singh

Are the distributions we take considered earned or passive income?
Comment from : Bethany Latimer

Excellent Information! - Two Questions: 1) if you have a Wyoming Holding LLC and a Operating (subsidiary LLC), are there any tax implications or penalties transferring money between them? 2) When making a contribution from your personal checking to your LLCs, which LLC should you transfer money too, the Holdings or Operating LLC? Thank you!
Comment from : Sgtofmarines

Hey Clint, if I put $100k into my LLC via a contribution or using a promissory note to build ground up construction, can I take out my initial $100k after selling it? From my understanding of this video only the profit made from flipping it is taxed correct?
Comment from : Theodora Auwae

Hi Clint, I would like to know if it's legal to transfer money from one account to another connected to the same LLC? Thank you
Comment from : Purplebutterfly

Three questions:br1 If I have $1 million in income from a business this year and I put that into an LLC, when I take a distribution do I pay tax? That income was never taxed br2 Can I park untaxed money in a Real Estate LLC? Will that money be taxed?br3 This is related to Question 2 Do I have to spend all income on real estate to have $0 income for the year or can untaxed money be parked somewhere tax free?brbrThank you for these incredibly helpful videos!
Comment from : G C

Will the irs accept that ??
Comment from : A1 jr

Is writing check the only way ? What about zelle and including a memo as a way to record the distribution rather than a check ?
Comment from : A1 jr

Thank you! Your YouTube videos are very helpful and practical! Many thanks!
Comment from : Chris Orgfourteen

Hi Clint - great video very clear Really appreciated your content One quick question - I'm the co-owner of two companies One is an LLC and another is an Inc The LLC is s start and the Inc is much more established and cash-flowing in higher amounts Can I cut a check from the Inc to the LLC and classify that as an "Owner Contribution" rather than a Loan? In other words, if I need to help with the cash flow of the LLC as a start-up, the classification of "Owner Contribution" only happens if the funds are coming from my personal checking Account? Tks
Comment from : Daniele G L

If I send Money to a freelancer should I pay any tax
Comment from : Otman Alami

If someone owns single stocks (ex Apple stock) in a business LLC, can they distribute those shares to themselves personally as their distribution?
Comment from : Jake Sickels

Are distributions only on invested money? Profits can't be distributions because they are taxable?
Comment from : Donna Denise

May a single member LLC take contributions from the LLC to create another single member LLC
Comment from : Gabby Guerrero

You are an US citizen and talk about US LLC´s, right? I am new to your channel, so please excuse the stupid question :D
Comment from : Heiko Miller

So whatever I personally invest (deposit funds) into my LLC bank is the same money I take out when I take distributions from my LLC? Is it possible to continue distributions once I go beyond my initial investment into my LLC?
Comment from : Rene

Mr Coon, you mentioned it is good to transfer personal savings to LLC in wyowill that come out as a check for return of capital even if the LLC is taxed as partnership (your living trusts with your inc as 2 members)
Comment from : DC Miracles

If that llc is being taxed as a c corp does that change anything?
Comment from : avgyoutuber123

If I put money into my LLC to pay off initial expenses prior to income generation, is it best to make an interest-free loan to the LLC that is documented via a promissory note or make a capital contribution? If I were to make a capital contribution, can get my money I put in back via a distribution at any time? I am trying to understand the differences between these two funding methods
Comment from : Sean

Thanks for sharing Me Coons! I've got a question Instead of distributions, Can one make withdrawals in a fiscal period and not pay taxes on it and register 'em as "Equity withdrawals"? Even if I'm not in real Estate 🤷🏻‍♂️?
Comment from : Walter Gálaga

Clint, Would taking money out for food and gas be considered a distribution?
Comment from : Edie The Salsa FREAK!!

I have an LLC, this definitely helped Thank you
Comment from : Rod A

Thank you, Clint! Questions: Can I have my Property Manager deposit rental property rent into the LLC's checking account? Can I have them pull money out to put into my portfolio account with the Property Manager to pay hazard insurance, property taxes, etc? Can the lender pull money from the LLC to pay the mortgage on the rental property? And finally, should I setup separate checking accounts for each LLC (which only owns one property) Seems like the Property Manager will have a headache with me when I start to expand to multiple properties! But, I suppose that's what they get paid for!
Comment from : Greg McLean

Great information
Comment from : Pat Crowder

Great info you always enlighten me
Comment from : John Wilkens

auspicious timing
Comment from : Alex Davidson

Now your acting like an Executive brNow apply to my corporate trust
Comment from : Alex Davidson

Good stuff
Comment from : Dan Nolan

Is this the same concept for transferring money from a holding (parent) company to a subsidiary company, and vice-versa?brbrWould also love a video describing the difference between a distribution and a dividen?
Comment from : sometimesifly_