Recap of S Corp Downsides
Posted November 23, 2018
There are several issues where an S Corporation election does not make sense. Be wary of all the accountants and other business owners who automatically check the Yes box when asked about making the election. Attorneys screw this up was too often as well. As you can see in this chapter, it is not for everyone or every situation.
As always, the Watson CPA Group charges $150 for 40 minutes of consultation where we will ask questions to ensure the fit is correct and that it makes sense. If you decide to engage us for future services, we credit back the $150.
Three options exist from the consult-
- A solid Yes, or
- A solid No, or
- Another appointment to dig deeper into the facts and your objectives to ensure the fit is right.
This is our core competency. We suggest taking advantage of it (Yes, more shameless self-promotion but in our heart of hearts we just want to help you avoid a mistake or a series of mistakes).
Taxpayer’s Comprehensive Guide to LLCs and S Corps : 2019 Edition
This KB article is an excerpt from our book which is available in paperback from Amazon, as an eBook for Kindle and as a PDF from ClickBank. We used to publish with iTunes and Nook, but keeping up with two different formats was brutal. You can cruise through these KB articles, click on the fancy buttons below or visit our webpage which provides more information at-