Article Date:
April 2019


Word Count:
1171

 

 

TCJA Planning: Terminating Your S Corporation Election


If you’re reconsidering your business’s choice of entity due to tax reform, then the C corporation, partnership, or even sole proprietorship may be on your list.

 

If you are an S corporation currently, then you’ll have to terminate your S corporation election to switch to another business type.

 

With the switch, you need to consider:

 

·

How do I terminate the S corporation election correctly?

·

What are the tax consequences to me?

 

We’ll give you a detailed explanation of both.

 

And we’ll tell you a little-known way you can undo your S corporation with absolutely no tax consequence to you. (Yes, really!) ... Log in to view full article.

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