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For a one member financial consultant, does it make sense to
For a one member financial consultant, does it make sense to form an LLC and then elect S corp status. Why not elect S corp status directly. Is there any requirements that an financial advisor must el… read more
Barbara
Barbara
Enrolled Agent, Paralegal
20,979 satisfied customers
I have a taxation question; I recently opened an LLC single
I have a taxation question; I recently opened an LLC single member in Florida. I would like to turn the company into a S-corp. Whats the process step by step?… read more
Barbara
Barbara
Enrolled Agent, Paralegal
20,979 satisfied customers
I formed a professional corporation (the equivalent of an
Hello. I formed a professional corporation (the equivalent of an LLC in California), and am seeking an S-Corp election. I formed the corporation on September 9, 2020. If I were to submit form 2553 (th… read more
Barbara
Barbara
Enrolled Agent, Paralegal
20,979 satisfied customers
I have a small software company S corp. I want to open a
I have a small software company S corp. I want to open a TDameritrade account for stock trading with the same S corp.Is it advisable to do that or should i open a new corporation and do the stock trad… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,037 satisfied customers
I want to start a business flipping houses. How do I
I want to start a business flipping houses. How do I determine if I want to make an LLC and file as an S Corp or just make an S Corp and file taxes as such? What are the advantages/disadvantages of fo… read more
PDtax
PDtax
Owner
Master's Degree
6,509 satisfied customers
My friend is a real estate agent and a 1099 contractor for
My friend is a real estate agent and a 1099 contractor for another firm. Is it more advantageous for her to file as an LLC S Corp or C Corp and why?… read more
Barbara
Barbara
Enrolled Agent, Paralegal
20,979 satisfied customers
I have a case where I would like to find out if I need to
Hi Roger,I have a case where I would like to find out if I need to file consolidated tax return.I have a holding company (C Corporation) that owes two entities: One of owed entity is a pass through en… read more
taxmanrog
taxmanrog
Master's Degree
2,202 satisfied customers
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.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
23,416 satisfied customers
I work a salaried job. I will also begin another job as a
I work a salaried job. I will also begin another job as a medical consultant of sorts and also work as a Adjunct Professor. Can I set up a business entity for myself to write off more than I so now as… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
4,197 satisfied customers
For tax purposes, is it better to form a S-Corp or LLC?
Is it better to form an LLC taxed as an S-Corp, or just form an S-Corp? I am told that it can create massive problems every year, with filings being rejected by IRS and mis-processed, with lots of fin… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,037 satisfied customers
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
Jason M. Tyra, CPA
Principal
Master's Degree
168 satisfied customers
If an LLC partnership elects to be taxed as an S-corp on
quot;For Lane"If an LLC partnership elects to be taxed as an S-corp on 1/22/15 does the partnership need to file a 1065 for the first 22 days of the year and an 1120s for the remainder, or just an 112… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,037 satisfied customers
I am a non-member manager of an LLC. A member is one of our
I am a non-member manager of an LLC. A member is one of our "employees" working for me in sales and manufacturing (on the floor). Can we pay him a salary with a W2 if we elect to file as an S corporat… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,667 satisfied customers
Our LLC is considering changing to an S Corp. WE have done
Our LLC is considering changing to an S Corp. WE have done some research to learn what the benefits are in doing so but are not really clear if this is a good choice. The very first interest that drew… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
21,037 satisfied customers
LLC elected to be taxed as S-Corp. Anything need to be done
LLC elected to be taxed as S-Corp. Anything need to be done to notify the State of Maryland? For 2011 federal taxes, this is the first year we will send a 1020S as opposed to a 1065. We had to elect t… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,360 satisfied customers
Im a single member LLC company, Im trying to find out if
I'm a single member LLC company, I'm trying to find out if I can elect to be an S-Corp for my taxes this year, mainly I'm looking for a way to avoid that self employment tax. Is it possible to elect S… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,360 satisfied customers
I currently work as a full-time web developer for a small company,
I currently work as a full-time web developer for a small company, but I am thinking of making the transition to becoming a full-time freelancer for the same small company. I have also formed an LLC. … read more
Wallstreet Esq.
Wallstreet Esq.
Tax Attorney
Doctoral Degree
586 satisfied customers
I am a salaried employee with about $250k/ gross per year.
I am a salaried employee with about $250k/ gross per year. My employer has requested that my future bonus of $100k (tax year 2010), commissions of $250k (tax year 2009) and potential profit interests … read more
Liam Robinson
Liam Robinson
Bachelor's Degree
2 satisfied customers
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Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

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10 years experience

Mark D

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Robin D.

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Megan C

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