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SMLLC formed in May 2018 wants to elect S-Corp status.
SMLLC formed in May 2018 wants to elect S-Corp status. Single member registered with the IRS on his own. He did not realize the needed to submit Form 2553 at that time. I am helping him complete the 2… read more
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If client wants to revoke S-Corp election, reverting to a disregarded entity (single-member LLC) does anything need to happen to the remaining stock basis that would affect his personal return? Also, … read more
LEV
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I filed a company as a LLC with the state of New Jersey. I
I filed a company as a LLC with the state of New Jersey. I am now on the IRS website, to apply for a EIN number. When I went to get one, I received this message (see attached).Please let me know what … read more
Robin D.
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I need tax expert advice for following situation. *NOL Mr. A
Second opinion] Hi, My name is ***** ***** I need tax expert advice for following situation.*NOL Mr. A opened a restaurant as a single member manager of LLC in 2009. At that time LLC filed Form 8832 t… read more
PDtax
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Changing being taxed as an LLC sole proprietor to an LLC
changing being taxed as an LLC sole proprietor to an LLC taxed as an S-corp, do they need to file Form 8832 or Form 2553 or both?If both, in what order?THANKS… read more
abci168
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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
NPVAdvisor
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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
Mark Taylor
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I filed my business taxes as being self employed last year
I filed my business taxes as being self employed last year but I now need to go back and do a w2 as being an employer of the business which means I will owe taxes(fed, state, medicaid). Is that possib… read more
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What is the time frame to file an 8832 and 2553 single
What is the time frame to file an 8832 and 2553 for a single member LLC to be taxed as an "S" Corp. It was formed in June 2015. The tax return was filed on a Sch C for 2015. The taxpayer wants to be t… read more
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I am told that an S-Corp has the added benefit of allowing
I am told that an S-Corp has the added benefit of allowing owners (shareholders) to be employees, which results in savings on self-employment, social security, and Medicare taxes. Can an LLC also be t… read more
LEV
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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
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Good Morning Lev. Question on Entity Change. A sole ownership
Good Morning Lev. Question on Entity Change. A sole ownership LLC would like change entity and become a S-Corp. The LLC has an active EIN and my understanding form 2553 can be used to make that entity… read more
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I have a S Corp who is still paying the IRS prior years payroll
I have a S Corp who is still paying the IRS prior years payroll withholding tax. She closed her payroll account in 2012 and has only been taking draws and no salary. I am going to discuss setting up p… read more
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I am requesting Steve Grizey, if available. I have a client
I am requesting Steve Grizey, if available. I have a client who requested/elected Sub S treatment of his single member LLC in 2012. Is there a way to de-request this election? I don't beleive it is in… read more
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Can you revoke an 8832, client set up another company which
Can you revoke an 8832, client set up another company which was an extension of his S corp. The company was an LLC and he filed an 8832 for it to be treated as an C corp, but it really should be owned… read more
Charles Greiner
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About one month ago I formed a single owner LLC which will
About one month ago I formed a single owner LLC which will default to a disregarded entity. I have decided that I would like to make this a Subchapter S corporation. Form 8832 is used to request being… read more
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I have had an LLC since 2006 and I want to be taxed as an S
I have had an LLC since 2006 and I want to be taxed as an S Corporation for the upcoming tax year (Jan 1st 2011 - Dec 31st 2011.) When is the deadline for me to get an EIN and file the 8832 and 2553?… read more
MequonCPA
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We formed a 3 member LLC, a restaurant, this year in April.
We formed a 3 member LLC, a restaurant, this year in April. Form 2553 was filed, and the IRS approved the S-Corp status beginning May 1 even though we left the effective date blank. After speaking wit… read more
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