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Form Election by a Small Business Corporation Smartech Gatech

Form Election by a Small Business Corporation Smartech Gatech

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if you're an llc owner looking to lessen your tax burden one way to do so is through an s-corp election s-corporation taxes are different than an llc because shareholders can allocate some profits to be paid to them as a distribution which is exempt from self-employment tax here's how to be taxed as an s-corp step 1 incorporate your llc in the state where you'll conduct the majority of your business step 2 confirm your company meets requirements to elect an s-corp status step 3 prepare form 2553 step 4 file it with the irs no more than 2 months and 15 days after the beginning of the tax year the election takes effect or at any time during the preceding tax year you could do these complicated steps yourself or you can save yourself the time and have inkvile handle your s-corp election check out the link below to get started you

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