“Tax-free Conversion of a Partnership
into an S Corporation”
To get my complete article
with all the details…
Do you run your business as a partnership or LLC?
[In this issue, I’ll refer to both of these ways of doing business as partnerships, because the partnership federal income-tax rules apply to both.]
Then you may be considering turning your business entity into an S corporation.
Why would you want to make the move?
Because if make the conversion to an S corporation, you can reduce exposure, for you and other owners, to Social Security and Medicare taxes.
These come in the form of heavy self-employment taxes for partners. Ouch!
Now, get an explanation of the key
federal income-tax implications of making the switch.
In my new article, I’ll cover important topics like these:
- How to implement a Section 351 incorporation
- How to structure a Section 351 incorporation
- How to handle the corporation’s tax basis in transferred property
- How to get the timing right when you make the S corporation election
- How to get relief for missed S corporation election deadlines
- And much more
Yes. Turning your partnership into an S corporation can have many benefits, but you’ve got to handle things correctly.
That’s why I urge you to take a minute and…
CLICK HERE and read my complete new article titled…
“Tax-free Conversion of a Partnership
Into an S Corporation”