In this video I cover when, why, and how to convert your LLC or Corporation over to SCorporation taxation.
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Topics this Video Covers
* SCorporation Taxation can provide big tax benefits to owners compared to CCorp, Single Member LLC, or Multi Member LLC (Partnership) Taxation
* The “SCorporation” is not a separate legal entity. It is either an LLC or a Corporation, that has elected “S” Tax Treatment
* You can elect “S Corp” tax status for any future year (and some past or current years) if your entity is eligible
* Election is as simple as faxing a timely Form 2553 to the IRS
* Additional filing requirements, shareholder limitations, state recognition (or not), state passthrough tax, and other general formalities, costs, fees, for maintaining an S Corporation