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 Ct 3 S Form 2020

2020-2025 Form

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foreign [Music] hey guys welcome back to another ASCII CPA video in this video we're going to be focusing on a specific tax form the 2553 which is the S corporation election form so if you're in business you've probably heard if someone mentioned the term S corporation and all the benefits that come along with electing to become an S corporation if you want to discover the benefits check out this video here where we go over all the benefits of the S corporation so to become an S corporation an LLC or a C Corp must make an election that treats the business as an S corporation by filing form 2553 by filing form 2553 it achieves three compliance matters so first the company elects the S corporation status next the shareholders all consent and agree to the election and finally the company selects their tax year so let's take a look specifically at the tax form let's walk through it kind of line by line how to fill it out and then we'll jump b

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