I am thinking of converting my s corp to LLC
. i have filed for the EIN, sales tax
certificate and have done some business since ***** ***** under the S-corp. i was misguided and do not think the s is best so i don't have to deal with actual payroll. The company is part time, maybe will make 10K profit at the end of the year
JA: Thanks. Can you give me any more details about your issue?
Customer: my intention was to have a separate tax return
and the business. i was told an s would do that, however now i see it will not. I also didn't realize i would have to do reasonable wages, so that would mean payroll taxes
, remittance of taxes ect....more work than it is worth for a part time seasonal job (actually my husband does the work, i do the books)
JA: OK got it. Last thing — Tax Professionals generally expect a deposit of about $32 to help with your type of question (you only pay if satisfied). Now I'm going to take you to a page to place a secure deposit with JustAnswer. Don't worry, this chat is saved. After that, we will finish helping you.