Tag Archives: Small Business Owners

S-Corporations- Overview, Filing Mandates, Pros & Cons and Termination/Revocation

Q: What is an S-Corporation? Why choose S-Corporation Status? First of all, S-Corporation is not an entity type. Its an election that needs to be made on Form 2553, Election by a Small Business Corporation. An LLC or a sole proprietorship can elect to file as an S-Corporation. Q. When to make the S-Corporation election? […]