Home: Message List - New LLC taxed as S-Corp

Re: New LLC taxed as S-Corp

kevhan — Thu, 20 Nov 2008 15:50:54 GMT

When you set up your new company you will need to maintain your books and records. Check out BookkeeperWorld.com for all your bookkeeping needs.

Good Luck

Re: New LLC taxed as S-Corp

Elite1 — Thu, 20 Nov 2008 02:58:47 GMT

Sounds like what you want more closely resembles a C Corp. Do some research before you jump into something. Make sure you are making an informed decision.

Re: New LLC taxed as S-Corp

Elite1 — Thu, 20 Nov 2008 02:54:38 GMT

Once your LLC is formed, file Form 2553 with the IRS to be taxed as an S-Corp. However; you will have a short tax year (assuming your are a calendar year company). Have you checked with your accountant?

Re: New LLC taxed as S-Corp

kevhan — Thu, 23 Oct 2008 13:05:17 GMT

Hang onto your hat with the self employment tax on the sub S distributions That item is top on the list to be eliminated by Obama so I would keep that in mind in your planning. Also you have to take a reasonable salary. If you set up an LLC you could do it as a sole owner and file it on the 1040 sch C. How are going to do your bookkeeping check out BookkeeperWorld.com It offers inexpensive bookkeeping services so you can focus on running your company.

Re: New LLC taxed as S-Corp

LUCKIEST — Wed, 22 Oct 2008 21:57:09 GMT

New LLC taxed as S-Corp, Welcome

Everybody in business should have an Accountant, a Lawyer and an Insurance Agent.

Ask your professional. They know you and your situation best.

Re: New LLC taxed as S-Corp

raydar — Wed, 22 Oct 2008 21:48:50 GMT

It is a computer consulting company. Figured the LLC would require less filing and changing to be taxed as S Corp will keep me from having to pay unemployment tax on distributiions. I only have to pay on actual pay to me. No partner.

Re: New LLC taxed as S-Corp

kevhan — Wed, 22 Oct 2008 16:35:44 GMT

Hi

First question is why do you want to be an S corp? do u have a partner? You can be an S corp and not an LLC usually in most states less expensive to set up

what type of business will you have

Kevin (CPA)

New LLC taxed as S-Corp

raydar — Tue, 21 Oct 2008 16:48:01 GMT

I am getting ready to create a new LLC. Is it still possible to file the form to be taxed as S-Corp since this is a new company? Or do i have to wait until next year?