LLC with S-Corp Conversion


K

Ken Ramirez

In Nov.2003 I started a new contract/remodeling business and my
accountant suggested that I form the business as an LLC with an S Corp
conversion. He had me fill out forms 2553 and 8832.

I don't fully understand what are the advantages of doing this and
what is the classification of my company when asked by the IRS, Tax
preparation software, etc. Is it considered an LLC, S-Corp, or both?

Thanks for your help,

Ken
 
Ad

Advertisements

J

Jim Giordano

If you filed for an s-corp, you have an s-corp.... you could have started
with a c-corp, or an LLC. His reasoning could have been cost to you....
some states require "publishing" in 2 papers/law journals when you start
certain types of corps.. he may have gotten around that for you. Hard to
tell without knowing more (like what state, how many owners, all US
citizens?, etc).
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Similar Threads

LLC conversion to S Corp 0

Top