How to Fill out IRS Form 2553 | S Corp Election | Complete Instructions
In this video I show you how to prepare and file Form 2553 with the IRS to have your LLC or Corporation taxed as an S Corporation. I'll walk you through the form step by step and give you some insights on things to keep in mind so you don't make mistakes and have the form rejected.
As a preview of what you can expect to see and learn, I’m going to show you:
- Where to find the instructions
- Where to find the form
- How to complete the form, and while doing this, what things people often miss or where they make mistakes when completing this on their own.
- How to complete the form if you live in a community property state - very important. Most people including CPAs and tax attorneys miss this.
- Where to file and what method to use to send it to the IRS
- How long it takes the IRS to process the form and what to do with your S Corp acceptance letter
- What to do if you don’t receive the S Corp acceptance Letter
📺 How to file LATE S Corp election video: • How to file a LATE S C...
IRS Form 2553: www.irs.gov/pub/irs-pdf/f2553...
IRS Form 2553 Instructions: www.irs.gov/instructions/i2553
🔗Useful Links:
🌐 Website: navimarajcpa.com/
📋 Enroll In My Course - Small Business Taxes: From Knowing Nothing to Savings Thousands: navimarajcpa.com/learn/
📁 Setup your LLC or Corporation for FREE:
FileYourBusiness.com: www.fileyourbusiness.com/
Inc Authority: bit.ly/incauthoritycoupon
IncFile: bit.ly/incfilecoupon
ZenBusiness: bit.ly/zenbusinesscoupon
If you learned something from this video, please like and subscribe and follow me on my various social media handles below. If you would like to contact me with a specific question, please visit my website or leave me a comment.
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This video was created for informational purposes and it is not to be construed as legal and tax advice specific to your unique situation. Some of the links above are affiliate links which means that if you purchase a product or service with the provided link, I may receive a commission with no additional cost to you.
© Navi Maraj CPA PLLC. All rights reserved.
#form2553 #scorp #entrepreneur
Пікірлер: 221
📺 How to file LATE S Corp election video: kzread.info/dash/bejne/qnVsk9WPhtfNoJs.html
I am screaming THANK YOU from the bottom of my heart!!! You are truly a life saver. I am changing my LLC to S Corp and had no idea what I was doing! Thank you for explaining this in such detail.
You're a life saver! you've got a new subscriber
Hi, just found your Channel after my husband & I were searching for info on switching our small trucking company's status from an LLC to an S corp, as recommended by our H&R Block tax preparer. You did an excellent job explaining step by step how to fill out form 2553. You provided detailed instructions and we actually filled out our form as we followed along with the video. I am now subscribed to your channel & will also check out your website. Thank you so much!
@SRTGrizz
Жыл бұрын
I needed to see this, im making the right choice. im doing the same as well
Thank you so much for taking the time to make this video!
I really like how you explain everything in detail! Thank you😊
Do you understand how much of a help you are?!! I needed this. Thanks a lot. It’s a must I subscribe.
This was really great! Thank you! WIll follow you from now on!
SUPER HELPFUL VIDEO. Crisp, clean, not too longwinded. Thank you!
This video was super helpful! We started a new corporation so this was a pretty straight forward situation but your video confirmed I was completing it correctly. Thanks! I look forward to listening to more of your content.
This is such a professional and in-depth video! Thank you
you are such a great presentor, you explained it quite easy way
Thank God you exist, you saved me a ton of researching.
THANK YOU! Very informative. SUPER, CRISP & CLEAR instructions!
Thank you for the line for line instruction. I got stuck initially when I was filling out the form and you helped me out tremendously! The directions can be tricky and this content was perfect. New subscriber here! 🙋🏽♀️
AWSOME video. Very helpful to keep on track. Thanks
Thank you Navi!! Great job!
It's an amazing professional. Thank you for all videos from this channel.
Hi Navi, I really learn much in your videos. Thank You for sharing!!!
Very clear and helpful! Thank you, Navi!
Thanks so much , help me a lot
I appreciate your content a lot!! Very clear,informative and helpful!! You deserve a lot more subs!
Extremely helpful! Thank you!
THANK YOU so much! This was amazing and appreciated.
Thank you for your videos.
AMAZING video, thank you so much!!
Thank you very much! This was extremely helpful!
Thank you! I had everything filled out correctly, but this helped verify! Will be watching more of your videos, very concise and thorough
Thank you so much, this helped me out a lot!
Thank you so much! Your video was very informative and simple to follow!
I am an EA and I learned a lot from this video
Thank you soooo much for this video - amazing content and can't wait to watch more of your videos. I'm learning a lot so far.
I just subscribed! I was today years old when I learned all of this information. Thank you!
Thank you so very much for this video. It was easy to follow along and I appreciate it. 😊
@NaviMarajCPA
Жыл бұрын
You are so welcome!
Very very helpful! Thank you!
Awesome content, helpful, insightful, thanks!
VERY HELPFUL. THANK YOU!
Very clear and thorough instructions. Excellent video.
@NaviMarajCPA
Жыл бұрын
Thanks so much for the feedback! 👍🏼
This was so helpful! Thank you .
Thank you so much. This was really good.
Excellent..! Thank you. Exactly what I need it. 😊
Great video, thanks for your insights
Thank you so much. This really helped me. I ve never done this before. You are this very easy.
Thank you for sharing your knowledge
Super helpful. Thanks for sharing the knowledge. Like the very detailed instructions.
Very informative video, it gave me the answers to my questions. thank you!
Thank you! Very clear instructions.
Nice and clear. Thank you for the video.
Very detail & helpful. I followed along and filled out this form for my llc business. Thx!
@NaviMarajCPA
Жыл бұрын
Glad it was helpful for you @1212Innovations
Great video! Thank you
Thank you for the video. YOU ARE AWESOME.
THANK YOU for helping out !!!!
I filled out the form. Thank you!!
You explained very well and makes it easier for us. thank you!
Thank you so much. Soooo helpful.
Great video. It helped me. I missed inputting info on all the top lines. Thanks a ton.
Thank you thank you! This was SO helpful!!
@NaviMarajCPA
Жыл бұрын
You’re welcome Bianca!
VERY GOOD CONTENT.. I GOT AN UNDERSTANDING ON CALENDAR YEAR! I WAS ALSO TOLD $3,7OO TO FILE THE S-CORP SO HEARING WHAT MIGHT BE AVERAGE WAS BEYOND HELPFUL!
Thank you for a very detailed video. I was able to easily follow your instructions and fill-out the form. I have an LLC and will be transitioning to be taxed as an S-Corp. You clarified several areas that I couldn't figure out and couldn't find answers anywhere. I also appreciate the information to add name and EIN on each page and title of primary shareholder.
Very clear, thanks
This video was extremely helpful, been getting the run around with some tax people and wasn't sure of what to select for some of these question. But you broke it down made it super simple. Thank you I love how you even explained the what happens after the form is submitted so Im not left in confusion. I am certainly considering purchasing your course I know it will be very beneficial! You're very clear, detail oriented and straight to the point. Thanks again I will be faxing and mailing this form off on Monday!
@NaviMarajCPA
Жыл бұрын
Thanks so much Karen for your wonderful comment - truly appreciate it! Hope to see you in the course soon. 🙂
Great info! Thank you!!!
This is SO helpful. Thank you!
Thanks 🙏🏻 helping out a friend with this and came across the video
The best explanation
Great helpful video that helps me filling the form step by step... Thank you
Very helpful!
Thank you soooo much!! You explain things clearly and thoroughly. I am NOT a business person, but I am able to really understand the information you share. Thank you. :)
Thank you this was very helpful
Very Helpful! Thanks
Thanks so much!
Thanks for the info.
Very clear instructions thank you Navi
@NaviMarajCPA
Жыл бұрын
My pleasure 😊
Great videos! Love your content, super helpful. Also, you have the same voice as Sanjay Gupta lol
Thank you very helpful and informative
Very helful, thank you.
Thank you! This was helpful. :)
@NaviMarajCPA
Жыл бұрын
You’re welcome!
I like how clear and easy to follow you are. Something that would have helped me watching your content is having time markers in the description with a table of contents. If I ever have to reference a video it would make picking out a piece of info easier and I already have the form so I'm listening to info I could skip. Nice channel though, subscribed.
Great video
Excellent!! thank you.
Thank you. Well done.
Thank you so much very helpful
Thank you for this!
@NaviMarajCPA
Жыл бұрын
You’re welcome!
Thank you!
very helpful, thank you!
Thank you for your answer
Helpful!
Excellent explanation
Thanks man
Very helpful
Thank you
thank you ! Super helpful !! I would have made a lot of mistakes!
thank you
Very helpful 👍
@NaviMarajCPA
Жыл бұрын
That’s great to hear. Thanks for the feedback!
Thank you.
Great information
@NaviMarajCPA
Жыл бұрын
Thanks - glad it was helpful to you!
Super helpful! Great information! Question, do I have to include “LLC” in my name when filling out any forms for my business? Such as opening accounts, credit cards & online store
NEW SUBSCRIBER EXCELLENT JOB
@NavidMaraj Thak you for this great video, it really help me understand and helped me fell this form properly. Liked and subscribed to your channel!
AMAZING THNK YOU
@NaviMarajCPA
Жыл бұрын
Welcome 😊