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Convert C to S Corp: Save Thousands and Avoid BIG Tax Problem

August 28, 2024

“Convert C to S Corp: Save Thousands
and Avoid BIG Tax Problem”

To get my complete article
with all the details…

Did you know that you can save a whole lot of money by learning how to avoid the evil built-in gains tax; The tax that often applies when you convert your C corporation into an S corporation.

Supposed you’ve decided the S corporation
is your preferred choice of entity.

How do you change your C corporation into an S corporation without paying government-imposed double taxes? That is the question.

You see, the law does not simply let you switch without fear of taxes. [Hey, you’re dealing with the IRS which makes things a little more complicated.]

You need to consider the built-in gains taxes, which tax professionals refer to using the acronym BIG.

Why BIG? Because when you hit one of the triggers for the built-in gains tax, you pay double taxes.

And the potential for triggering this double tax is embedded for up to the first five years of the newly created S corporation.

Here’s the first thing you should do …

CLICK HERE to read my completely new article titled:

“Convert C to S Corp: Save Thousands
and Avoid BIG Tax Problem”

Filed Under: Capital Gains, Choice of entity, Corporations, Filing tips, Tax Planning, Tax Policy

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