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What is the difference between an S Corp being 100% owner of
What is the difference between an S Corp being 100% owner of an LLC and having a 100% owned QSub? In either case, the LLC or the Qsub consolidates its books with the S Corp on the S Corp's tax return,… read more
Lev
Lev
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I need advice on making the late elections for an LLC to
I need advice on making the late elections for an LLC to file as a Sub S corp. I am thinking that I need to file form 8832 first. If the 8832 is accepted, will the 2553 be considered timely or will it… read more
Chad EA, CDFA®, CFP®
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On 10/19/2015 a disregarded entity was started as an LLC in
On 10/19/2015 a disregarded entity was started as an LLC in Arizona. On 3/31/16 a Sub S partner bought into the business and forming a partnership. A previous Sub S Election on Form 2553 had been file… read more
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I just incorporated a LLC in texas and am getting ready to
I just incorporated a LLC in texas and am getting ready to fill S cop by filing out form 2553 my question is while the form is being processed, can i claim my business tax entity as s corp to set up business checking account and other business account needs? like texas sales permit and stuff … read more
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My husband started a company in March of 2015. Filing taxes
My husband started a company in March of 2015. Filing taxes is a nightmare and even my accountant isn't sure what to do.1. Incorporated as an LLC partnership in the State of Delaware March 2015. The S… read more
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ATTENTION TAX ATTORNEY: Our 2-person LLC, which has always
ATTENTION TAX ATTORNEY: Our 2-person LLC, which has always filed taxes as a partnership is doing a sub S conversion for tax filing purposes only. My understanding from the instructions for form 2553 i… read more
Jason M. Tyra, CPA
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I'm just trying to confirm that a Sub-S Corp owned by my wife
I'm just trying to confirm that a Sub-S Corp owned by my wife and I can 100% own a second S-Corp. It looks like the answer is "yes" i.e. a Qualifying S-Corp. Is that correct? And from the IRS standpoi… read more
Lane
Lane
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Doctoral Degree
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Hello - I have a sub S corp that owns 4 other Sub S corp (Q-Subs)
Hello - I have a sub S corp that owns 4 other Sub S corp (Q-Subs) - anyone on this list work with Q-subs? After we filed the 1120S the taxpayer CFO then tells me that I had the wrong information, the … read more
Lane
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C corporation owns 100% of 3 other C corps. and has previously
C corporation owns 100% of 3 other C corps. and has previously filed consolidated returns, in 2012 parent corp elects to be an "S" corp. Can parent corp, now an S corp, file an 8869 and make a "subcha… read more
Megan C
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This question has to do with California and Federal rules.
This question has to do with California and Federal rules. Prior to being my client, she was advised by her CPA to incorporate and make an S election. He referred her to an Attorney and he charged her… read more
DanielleCPA
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An LLC (2 members) was being taxed as a partnership. One member
An LLC (2 members) was being taxed as a partnership. One member withdrew in June so obviously a partnership no longer exists. I assume the partnership files a return based on first six months. Can the… read more
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Three subchapter S Corporations own a new Sub-Chapter S corportation
Three subchapter S Corporations own a new Sub-Chapter S corportation in September 2011. The new business has not been launched yet. Can we skip filing an 1120(s) for 2011 and capture the minimum expen… read more
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OK, heres a whopper! I am looking at starting business
OK, here's a whopper! I am looking at starting business in WA state. I'm not from here nor did i ever plan to stay, but life events have dictated otherwise. Currently I have a Nevada corporation that … read more
socrateaser
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S corp acquires 100% of the stock of an s corp and makes a
S corp acquires 100% of the stock of an s corp and makes a q sub election. When preparing the 1120S the QSub's assets, liabilities, and items of income, deduction and credit are treated as owned by th… read more
MequonCPA
MequonCPA
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Calendar year S corp (A) acquires 100% of the stock in a calendar
Calendar year S corp (A) acquires 100% of the stock in a calendar year S corp (T) on 09-30-09. Q-sub election is made 10-01-09. Sub T is deemed to be liquidated tax free into the Parent A under 332 & … read more
BK-CPA
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can an s-corp invest in an llc. I heard that an s corp can
can an s-corp invest in an llc. I heard that an s corp can only be a member of an llc if the llc does not elect s status. When then do you advise an s election for an llc?… read more
RD
RD
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LLC is being taxed as a Sub S. Sub S shows losses, members
LLC is being taxed as a Sub S. Sub S shows losses, members of the LLC have no basis in the LLC only guarantees for various loans. Can the members deduct the Sub S losses because they are an LLC or do … read more
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