LLC S Corporation Election: Complete Step-by-Step Guide

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In this video, I go over the cheapest and fastest way to elect your LLC as an S corporation. I'll explain why you might want to consider this option, especially when it comes to saving on taxes. Plus, I'll guide you through the simple steps to file Form 2553 with the IRS. You'll also learn about using Bizee as an easy way to handle this process if you prefer not to do it yourself.

Fill out IRS Form 2553 today here:
https://www.irs.gov/pub/irs-pdf/f2553...

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Be sure to watch this video all the way through, as I cover tips on setting up your S-corp status, including how to choose a good salary for yourself and what responsibilities come with this election. Understanding these details can help you save money and avoid mistakes that new business owners often make.

Paperwork can often feel overwhelming, especially when it comes to filing important forms like Form 2553. That's why I recommend using Bizee. This tool simplifies the whole process by managing the filing for you, so you can focus on running your business without the stress of dealing with forms and deadlines! Plus, it's a cheap solution that makes sure everything is handled correctly and efficiently.


For more information on LLCs and business formation, check out our other videos:

LLC’s for Beginners: Everything You Need to Know:
   • LLC’s for Beginners: Everything You Need t...  

LLCs vs LLPs: Which One Do You Need? - Pros, Cons, and Which to CHOOSE:
   • LLCs vs LLPs: Which One Do You Need? -  Pr...  

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Thanks for watching, and I hope you have a wonderful rest of your day!

– Kyle

#LLC #Scorp #Business

Timeline:
0:00 - Introduction
0:39 - Why You Might Want to Elect as an S-Corp?
2:53 - Choose a Reasonable Salary
3:38 - Set Up Payroll
4:43 - The Cost Of Filing an Additional Tax Forms
7:29 - Use Bizee as the Solution
8:13 - Conclusion

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In addition, we are not financial advisors. LLC Deals does not provide tax, legal, or accounting advice. The ideas presented in this video are for entertainment purposes only. Please do your due diligence before making any financial decisions.