Thank you for this helpful and to-the-point explanation!

thank you for the video , I am posting this to give some clarification on section E AND F as I had to go to other sources for clearer explanations and it may help someone here : Brief research on filing dates : “What’s the deadline for filing Form 2553? The deadline to elect S-Corporation tax treatment depends on whether your business is newly incorporated or is in its second (or later) tax year. For a New Business A corporation or LLC must file an S-Corp election within two months and 15 days (~75 days total) of the date of formation for the election to take effect in the first tax year. Example: Your articles of formation was filed on August 21st. Two months later is counted to the numerically corresponding day of October 21st. Add 15 days to get November 5th. Your S-Corp election must be filed by November 5th to take effect in your first tax year." disclaimer : I am not an expert , do your own homework as well

@taden2007

3 жыл бұрын

thank u for this, i was somewhat confused. So new business u have 75 days to file for s-corp... if it was a pre-existing llc.. u have to file within 75 days of new tax year.

@fortifiedgaze8688

2 жыл бұрын

This definitely helped me. Tysm!

@olivernavarro9748

2 жыл бұрын

So if I formed my LLC in May of last year, what would be my excuse? To forming the s corp. My business never actually earned income. The LLC is active tho. Any input? Thank you

Very clear and easy to follow. Thank you for the video!

These videos have helped me so much, thank you for empowering self-employed and small businesses!

This was amazing. Thank you for your clear and concise information. This takes a weight off of us busy folk who are still working full time and trying to start a business at the same time!!!

Thank you so much you helped me fill mine out for my company! Thank you I’m just starting a One person LLC

@FunderaLedger

4 жыл бұрын

Your welcome! Good luck with your business :)

Awesome video! Easy to follow and your delivery was awesome. Thanks for sharing.

Extremely detail tutorial - Nice job and Thank you!

Amazing! Thank you so much! This video answered all of my questions!

It was a very detailed and well explained video. Thank you!

Very Helpful, watched through twice to make sure I got it right. Thanks so so much!

This was SO helpful! I was so lost! Thank you so very much!!

This is the best instruction out here on KZread

This was very helpful! I was stuck starring at the screen rereading the form trying to figure it out. Thank you!

Very much appreciate the clarity and step-by-step!

Thank you so much for the detailed explanation ! I appreciate it so much !

Thank you so so much for this helpful, clear and detailed information!

Thank you for the explanation! Very clear and detailed.

Thanks. I really appreciate the step by step guide and explanation on each sections.

@FunderaLedger

4 жыл бұрын

Your welcome :) Stay tuned for more videos

You are a legend. Just got my incorporation paperwork and it said I need to do this.

thank you...it seems intuitive that people should make clear and concise videos, but that is not always the case. thanks again.

This was great! So easy to follow!

Amazing explanation and clearly state everything. Thanks

Thank you for making this video! still relevant to 2022

Thank you for this! Helpful and simple!

Thank you so much for such a well and detailed explanation, thanks to you I had no problems filling out my form, you are awesome! :)

@FunderaLedger

4 жыл бұрын

Glad we could be of service :)

@marketbuy

4 жыл бұрын

Thank you! You have a beautiful voice. Please keep it up! 😁

THANK YOU FOR THIS VIDEO! This is so helpful! The instructions on the IRS website are so hard to understand. This was very easy to digest and I'm so glad you have this video!!

@GetHelpTax

Жыл бұрын

That's true. The IRS instructions aren't always that easy to follow. Good luck with your business.

So very helpful. Thanks for taking time to do this.

@FunderaLedger

4 жыл бұрын

Of course! Glad we could be of assistance :)

Thank you for the video, was amazing. 🤗

This was extremely helpful and easy to follow, thank you so much!

THANK YOU! The information was helpful.

Thank you so much! Very good explanation!

This video was super helpful! Thank you so much!

Thank you soooo much!

Thank you. This was helpful, clear instruction.

Simple explanation, was great help. thank you.

@FunderaLedger

4 жыл бұрын

Glad you found it usefu; :)

THANK YOU .... This was extremely helpful

Great video, thanks for sharing your knowledge

Thanks for this video. It was a prayer answered. I've been trying to get my S-Corp since 2021 but they kept sending me the forms back without a true understanding so this video broke it down for me and sent the forms off today and THEY WERE CORRECT! Thanks!

@GetHelpTax

2 жыл бұрын

Good luck with the business!

So helpful, thank you!!!! Great video!

Hello Priyanka. Wonderful video! Thank you for the step-by-step advice.

@FunderaLedger

4 жыл бұрын

Of course! We appreciate your kind words :)

This was very helpful. Thank you.

Super helpful! Thank you for this!! 💜✨

Thanks for this great video. I’ve watched a lot of youtube videos on filling out this form and your is the best! But there is one detail no one seems to address and that is in the first line, under “Name”. Most people filling out this form may have a home business where their personal address is the same as the business address. If this is the case the instruction ask you to do something different. The instruction sheet says the following; “Name and Address Enter the corporation's true name as stated in the corporate charter or other legal document creating it. If the corporation's mailing address is the same as someone else's, such as a shareholder's, enter "C/O" and this person's name following the name of the corporation. Include the suite, room, or other unit number after the street address. If the Post Office doesn’t deliver to the street address and the corporation has a P.O. box, show the box number instead of the street address. If the corporation changed its name or address after applying for its employer identification number, be sure to check the box in item D of Part I.” I interpret this to mean that on the line labeled “Name” you should have put ABC Bakery LLC C/O Personal Name if the member lives at the same address as his/her business. Do you agree or am I missing something? Thanks :)

Awesome info! Thank you very much!

Thank you for clarifying up part 2!

Thanks so much for this information! ❤

Thank you for the good content

Thank you so much, you just saved me $395 that my accountant wanted to greedy charged me for this simple form. Wishing you all the best for this holidays!

Great explanation!!

So helpful and easy to understand!

@FunderaLedger

4 жыл бұрын

Thanks for the kind words!

Thank you so much! Much appreciated!

great video thanks so much!

This video is AMAZING! Excellent and thorough explanations!! 👏🏾👏🏾

Thank you very much. God bless you. It was easy. This is the first time with my own businesses. I still get confused which one is the difference with LLC?

This is excellent!

Thanks a lot for this video service

So helpful. Thank you so much.

Very helpful! I was stumped by Part II, but you made it very easy to understand. Thank you!

Thank you that was very helpful

Thanks for the video, this was very helpful!

@GetHelpTax

Жыл бұрын

Good luck with your business!

Very Insightful!

Very helpful. Thank you .

Very helpful, thank you!

So helpful, thank you!

Pleasant voice ... beautiful

So helpful! Thanks

Awesome video!

Your great. Thank you!

Thank you so much, do you have videos regarding the two additional forms you mentioned toward the end of the video?

Thank you so much you made it so simple

@FunderaLedger

3 жыл бұрын

You're welcome!

Thank You Very much!

Doing God's work, thank you!

Saved my life!

You are amazing!!!! Indeed!!!!

I’m appalled at how much my accountant tried to charge me for this.

Thanks so much paperwork

Thank you!!!

Thank You!!!

thank you very much.

Great Video!

Thank you so much!

EXTREMELY helpful!! Thank you so much for saving me hours trying to research every single line and figure it out.

@GetHelpTax

Жыл бұрын

S-Corp tax rules can be complex and the tax returns tricky. Good luck with your business!

Thank you.

thank you!

Thank you!!!!!!!!!!!!!

THANK YOU !!!

THANK YOU

Thank you!

So helpful! I am not sure on line G if it's just myself as a shareholder do I check the box?

Thank you - great info - 1 question: Part 1 - section M - you stated to put down shareholders SS# why not the tax id # EIN (say the company incorporated with only 1 person and 1 share - at $1.00 value still SS# or is it ok for EIN - Thanks!

Thank you so much for this video. 1 question, we got out EIN in 08/2020, what date will I put on line E of the form 2553? Again, thank you very much for the video.

Thank you🙌🏿🙌🏿

Hi can you guys any direction on how to actually file? How do I fax it, what should the cover letter say? I filled out the form which watching this video, thank you!

This was helpful if I wanted to go to an S-corp I need to know if I change to from an S corp to a C corp?

A VERY helpful video - Thank you! If we don't need to do part 2-4, should we only fax in the first 2 pages (besides the fax sheet)?

@FunderaLedger

4 жыл бұрын

We would recommend faxing all pages, just to avoid any confusion.

@MarriageKidsandMoney

4 жыл бұрын

@@FunderaLedger Thank you!

Thank you

Hi, Good informational video. I have already formed a corporation so came across your video to file for s corp election. This is the confusion I have. In the state of NY, corporations are required to have a registered agent so when I am filling out form 2553 do I fill in the registered agent's address in the address block or do i fill in my (the incorporator) address on this form? Thanks for your assistance.

The steps to change from an LLC to s-corp is to fill out this form. After I fill out the form, I would send it to the correct IRS (mines in UT since I live in AZ)? Then they'll send a letter confirming or denying? That's a simple process. Most CPA's are charing 200+ for this

Hi Priyanka, Thank you ... very helpful this video I have one another question I opened my company Incorporation (S corp) on 7/29/2019 fill up form SI-COMPLETE 12-26-19 and get new EIN form IRS on 9-3-19 and I forget to file form 2553 now IRS will fine me for this ?