Hi, I sent in a 2553 to convert an LLC to an S-Corp on 3/15/24. It was mailed via certified mail and the 2553 form was dated before 3/15/24. However, I was given S-Corp status for 2025, not 2024. I have inquired over phone to the IRS, but each time they just say they will have someone research and send me a letter. Each…
I'm helping my mom filing her taxes this year w/ freetaxusa, and I'm stuck on her Schedule K-1. My mom is a co-owner of a restaurant, and the Schedule K-1 she got this year has box 17 with code A, AC, AJ, and V. Code A has a dollar amount with it, so I know how to enter it into freetaxusa. For AC and Aj, there's an…
I am fully employed on W2 and filed personal taxes, disclosed some expenses incurred for formation of the s-corp, so included 1040 Schedule C. Should I file for 1120s separately still ? and show 0 income and 0 losses? since all expenses were deducted on my personal taxes?
I created a company with a business account, but for regulations with the client(NY Agency) the payments were being received in the personal account. Deposits were then being made from the personal account to the business account and I paid everything from the business account. I have an accountant(only work the company…
I have an S Corp. There is conflicting information online regarding the use of a Family Management Company (LLC) for the purpose of paying my minor children who work for me. Do I have to use a payroll service for them or is the FMC legal?
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