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Article Date:
October 2013

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Avoid These Common Mistakes When Converting to an S Corporation

At first glance, the corporate tax rules for forming an S corporation appear simple.1


They are not.


As a reader of the Tax Reduction Letter, you know that the tax code is full of hidden rules.


The IRS knows these rules. You need to know them, too.


In this article, we do two things: First, we help you avoid the potholes that destroy your S corporation. Image what a shock that is—to find out that what you thought was your S corporation is not an S corporation, but rather a C corporation. Ouch!


Second, we identify some of those rules that work to your advantage when you operate as an S corporation.


Basic Requirements


Here is what your business must look like when it operates ... Log in to view full article.

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