IRS Form 2553 can be a game-changer for the right company. The potential tax savings will undoubtedly pique the interest of many C corps and LLCs. But don’t jump into making an S corp election without careful thought and consideration. ...
Elect Your Company To S Corporation With Just a Few Clicks. Let our experienced team review and e-file your S-Corp election (IRS Form 2553) with the IRS and appropriate state agencies.
Tax Savings with IRS Form 2553 Choose S Corp election so that your LLC is treated as an S Corp for tax filing purposes. How to Form a S Corporation with Bizee in 3 Simple Steps 1. Choose Your Incorporation State Rules and regulations vary by state, so make sure you know what state ...
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S Corporation Form 2553 Filing Deadline S corporations must make a timely filing of Form 2553 with the IRS. The form must be completed and filed any time before the 16th day of the 3rd month of the tax year in which the election is to take effect, or any time during the tax year pr...
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When you elect S-corporation taxation (by filing Form 2553), the election takes effect on January 1 of the following year, with a few exceptions: If you file Form 2553 by March 15 of a given year, you can choose to have the election be effective as of January 1 of that year. ...
owners are required to register their business as a corporation with the Internal Revenue System, by default, it falls under C Corporation. However, when a business owner decides to file taxes as an S corporation, even if it’s a C Corporation, then it is required to file IRS Form 2553....
An LLC, or Limited Liability Company, blends the best aspects of sole proprietorships and corporations. Picture this: you get the straightforward taxation of a sole proprietorship but with the robust liability protection of a corporation. This means your personal assets—like your home and savings...
Essential corporation checklist Complete Corporate Kit Rapid Filing Service – Documents are submitted overnight or hand delivered to the government FedEx overnight delivery to you S-Corp Election Form (2553) EIN Tax ID application (SS4) Tax Classification (8832) Build Your Financial Castl...