Did you miss Uncle Sam’s deadline for converting your business to an S corporation? Well, it’s not too late to make the change and there are many reasons why you may want to do so.
You see, when you’re running your business as an S corporation you can save thousands of dollars in employment taxes every year. And that’s just for starters!
More good news… Even if you missed your S-corp filing deadline by a few years, there’s a way to file late and still get some fabulous tax benefits!
To find out more about how you can retroactively create an S corporation, don’t miss my new article titled Tax Tips: Did You Miss Your S-Corporation Election Deadline—and Thousands in Employment Tax Savings? No Worries—Do It Now!
Three ways our fact-filled article can help you:
- We’ll explain two winning strategies you can use now. To make a timely election for the current year, you have to make your S election on or before the 15th day of the 3rd month of the year. But don’t worry. If you’ve missed this deadline, you have two good options as you’ll discover when you read the full article.
- You’ll learn how to keep the IRS happy. How do you file late and still get the IRS to treat your S-corp election as timely? To get all the benefits you’re entitled to, you have to meet three requirements. We’ll tell you what they are when you read the full article.
- We’ll explain how to make the switch from other forms of business too. If you operate your business as a sole proprietorship, or as an LLC taxed as a sole proprietorship or partnership, the rules for starting an S corporation are a little different. We’ll tell you exactly how to make the change to an S-corp when you read the full article.