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No, just the 2553.
Be sure you know ALL of the ramifications of being taxed as a corporation (such as the extra time and money to file a separate tax return, put yourself on payroll, file quarterly employer forms, and pay Federal Unemployment) before you make such a decision.
No, just the 2553.
Be sure you know ALL of the ramifications of being taxed as a corporation (such as the extra time and money to file a separate tax return, put yourself on payroll, file quarterly employer forms, and pay Federal Unemployment) before you make such a decision.
Do you need to file a 2553 EVERY year or only the first year? Thanks!
@VivoHW wrote:
Do you need to file a 2553 EVERY year or only the first year? Thanks!
You make the election once.
See https://www.irs.gov/instructions/i2553#idm139773190567344
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