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#2
12-04-2005, 10:39 PM
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 Re: Filing 2553 for LLC after the fact to be taxed as S? "JMc" <jmmc76[at]NOSPAM.GameBox.net> wrote: - quote - > "Stuart A. Bronstein" <spamtrap[at]sbcglobal.net> wrote:
He said there'd be no net income for the year. So I'm> > "Cherrybounce" <chdavi15[at]hotmail.com> wrote: > > > WHen me and my partners formed an LLC we elected to be taxed > > > as a p'ship. This was in 2005. We will have no income for > > > the year. Can we file a 2553 before March 15 and request to > > > be taxed as an S? > > For 2006, yes. But why??? > One thought is that the income from the LLC might be subject > to S/E tax while the profits from the S-Corp would not (of > course you would pay a reasonable salary to the owner/employees). guessing they want to be able to recognize any loss. But that should be the same either taxed as a partnership or as an S-Corp, unless the loss is huge, in which case being taxed as a partnership allows a larger deduction. Stu << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
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#1
12-03-2005, 03:19 AM
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| Re: Filing 2553 for LLC after the fact to be taxed as S? "Stuart A. Bronstein" <spamtrap[at]sbcglobal.net> wrote: - quote - > "Cherrybounce" <chdavi15[at]hotmail.com> wrote:
One thought is that the income from the LLC might be subject> > WHen me and my partners formed an LLC we elected to be taxed > > as a p'ship. This was in 2005. We will have no income for > > the year. Can we file a 2553 before March 15 and request to > > be taxed as an S? > For 2006, yes. But why??? to S/E tax while the profits from the S-Corp would not (of course you would pay a reasonable salary to the owner/employees). << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
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12-01-2005, 11:55 PM
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| Re: Filing 2553 for LLC after the fact to be taxed as S? "Cherrybounce" <chdavi15[at]hotmail.com> wrote: - quote - > WHen me and my partners formed an LLC we elected to be taxed
For 2006, yes. But why???> as a p'ship. This was in 2005. We will have no income for > the year. Can we file a 2553 before March 15 and request to > be taxed as an S? Stu << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
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#-1
11-30-2005, 08:12 PM
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| Filing 2553 for LLC after the fact to be taxed as S? WHen me and my partners formed an LLC we elected to be taxed as a p'ship. This was in 2005. We will have no income for the year. Can we file a 2553 before March 15 and request to be taxed as an S? THanks. << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
| Tags |
| 2553, fact, filing, llc, taxed |
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