How to Elect S Corp Status Without the Costly Mistakes
You're looking at a profitable LLC, someone has told you to “just elect S corp,” and the deadline is approaching fast. The tax idea may be sound, but the filing itself is where many owners get into trouble. A late submission, an election filed before the entity legally exists, or one missing shareholder signature can […]
How Do You Form an S Corporation A Practical Guide
So, you're thinking about forming an S corporation. Smart move. But how does it actually work? It’s a two-part play. First, you have to form a regular business entity—usually an LLC or a C corporation—with your state. Once that's official, you then file a special election with the IRS to be taxed as an S […]