Help! I have tried every angle..I need to obtain the proper form,in which to change my corporation status from C to S. I can't get any help. What should I do. and...it is realy advantageous to do so...I am a samll business owner??? Help. Thank you.
The Form you need is 2553. It is downloadable from the IRS website. This issue of whether your corporation shld. be an "S" corporation is complex. We would need to know a whole lot more about your facts & circumstances before that question can be effectively answered.
[[Help! I have tried every angle..I need to obtain the proper form,in which to change my corporation status from C to S. I can't get any help. What should I do. and...it is realy advantageous to do so...I am a samll business owner??? Help. Thank you.]]I think that you might be in over you head here...and I may NOT be doing you a service by giving you this information...but...If you want the S-corporation application, go the IRS web site and download IRS Form 2553.I would also download/read IRS Publication 589 just to see what you are doing to yourself. I would also strongly suggest that you obtain some professional tax advice regarding your current corporation and your decision to move to an S-corporation.TMF TaxesRoyWant to learn more about taxes and investing? Then we have a deal for you!! The Motley Fool Investment Tax Guide is now available through Fool Mart. Be the first one on your block to own this masterpiece. It'll help you with your 1998 taxes, and it's never to early to start planning for your 1999 taxes. So just click on this link (http://www.foolmart.com/market/product.asp?pfid=MF+013+I) to read more about this amazing collection of tax information. (Apologies for the shameless plug…but it is a pretty good book…if I do say so myself). In addition, if you would like to visit the Taxes FAQ (Frequently Asked Questions) area, click on http://www.fool.com/school/taxes/taxes.htm and you'll be right at the home page. Check it out. Finally, if you need to get to the IRS web site, click on http://www.irs.ustreas.gov to go directly there.
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