Does filing form 2553 remove any LLC protections?
No. You still get the same limited liability protections as with a regular limited liability company.
How much could I save by being treated as an S Corporation for tax purposes?
You could save yourself thousands of dollars a year. We’ve got a handy calculator that shows you exactly how much you could reduce your self-employment tax burden.
Do I have to file my S Corporation Tax Election at a certain time?
Yes. There are certain limitations on when you can file form 2553. This article gives you all the details you need.
Can I file an S Corporation Tax Election if there are more owners in the business?
Yes. S Corporation Tax Elections are available to most LLCs. For more information, speak to your accountant or attorney.