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Can a scorp be a member of llc classified as scorp for tax
Hello, can a scorp be a member of llc classified as scorp for tax purposes? … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
30,022 satisfied customers
Can 3 single member llc's file on a single form 1120-s? What
can 3 single member llc's file on a single form 1120-s? … read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
4,994 satisfied customers
My client has a LLC for which he has been filing 1120S for
my client has a LLC for which he has been filing 1120S for the past few years but he wants to revoke s election and wants to file his 2016 return as 1165. whats the procedure? Please advice… read more
Barbara
Barbara
Enrolled Agent, Paralegal
15,178 satisfied customers
I have LLC partnership with 3 partners and have been filing
I have LLC partnership with 3 partners and have been filing 1065 for 2015 & 2016 Client intends to convert the LLC in to C Corp with effect from 01 01 2017 Question: Can it be converted from 01 01 201… read more
PDtax
PDtax
Owner
Master's Degree
9,540 satisfied customers
A multi member LLC converted to a SMLLC. I am filing the
A multi member LLC converted to a SMLLC. I am filing the final 1065 (partnership) return. The LLC will continue but as a disregarded entity. Do I need to file Form 8832 letting the IRS know that the L… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
8,388 satisfied customers
Question on how LLC can elect to be taxed as S Corp then
Question on how LLC can elect to be taxed as S Corp then revert back in the future if wanted. Specifically, an existing single member limited liability company wants to be treated as a S corporation f… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
30,022 satisfied customers
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
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
4,994 satisfied customers
On 3/31/16 An S corp had shares purchased by another Sub S,
On 3/31/16 An S corp had shares purchased by another Sub S, thus terminating the Sub S status. As of 3/31/16 we should file a form 1120S and check the terminated box? Then file a 1065 for 4/1/16-12/31… read more
Mark D
Mark D
Enrolled Agent
Master's Degree
1,338 satisfied customers
Tax Experts Client just created single member LLC and want
Tax Experts Client just created single member LLC and want to be taxed as s-corporation. Do we need to file 8823 in addition to 2553 Form or 2553 is enough? Can we do it with 2016 tax return using "ch… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
4,994 satisfied customers
Preparing 2015 tax return. There is an LLC that was formed
Hi Barbara,Preparing 2015 tax return. There is an LLC that was formed for a consulting business. The prior tax preparer was filing the profit on a Schedule C. However, the company applied for W Corp e… read more
Barbara
Barbara
Enrolled Agent, Paralegal
15,178 satisfied customers
I have a two member LLC that was taxed as a partnership in
I have a two member LLC that was taxed as a partnership in 2014. As of January 1 2015, one partner bought out the other. I need this now one member LLC to be taxed as a S corporation. Aside from Form … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,512 satisfied customers
My client is a single member LLC which began on 01/01/2014.
My client is a single member LLC which began on 01/01/2014. They intended to elect to be treated as an S Corporation. The member-manager even started paying himself a salary at the first of 2014 and w… read more
Barbara
Barbara
Enrolled Agent, Paralegal
15,178 satisfied customers
RE: LLC makes an election on Form 8832 to be a "c" corp. Then
RE: LLC makes an election on Form 8832 to be a "c" corp. Then Form 8832 to terminate the "c" election and be classified as a Partnership or flow to 1040. Looks Like form 8832 can be used both ways for… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,512 satisfied customers
A spouse resigned as a member of an LLC in 2013 leaving the
A spouse resigned as a member of an LLC in 2013 leaving the other spouse as the sole member of the LLC. The LLC had always filed the 1065 and issued the K-1's to both members. For 2013, the share of t… read more
Barbara
Barbara
Enrolled Agent, Paralegal
15,178 satisfied customers
Morning, I have a client that has been a Single Member LLC
Morning, I have a client that has been a Single Member LLC filing a "0" Schedule C (he tells me) since 2009. He had no transactions or income during those years. However, he obtained government contra… read more
Phillip B, EA
Phillip B, EA
Tax Advisor
Bachelor's Degree
1,326 satisfied customers
I have a question about entity conversion. If an LLC taxed
I have a question about entity conversion. If an LLC taxed as a partnership converts to a C-Corp would a new EIN be required? Could you file a form 8832 instead to keep the same EIN?… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
30,022 satisfied customers
I am applying for a EIN. I started my LLC yesterday and want
I am applying for a EIN. I started my LLC yesterday and want to file with the IRS as a S Corp. Do I claim S Corp on the initial application or do a LLC then a 8832 form?… read more
Barbara
Barbara
Enrolled Agent, Paralegal
15,178 satisfied customers
Last March my wife filed a single-member LLC. She was required
Last March my wife filed a single-member LLC. She was required to get an EIN for opening a bank account so she got one from IRS. It automatically classified her entity as "sole-proprietorship" for tax… read more
Jon Andrews
Jon Andrews
CPA
1,498 satisfied customers
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