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Printable Form Instructions 2553 New Hampshire: What You Should Know
Form 2553, Election by a Small Business Corporation — S Corporations 7 days ago — Our easy instructions for IRS Form 2553 guide covers how to complete Federal income tax form Federal, Kentucky, Maryland, New Hampshire, Maryland, Form 2553 Tax Filing Instructions | State of Maryland 7 days ago — S corporation ownership tax return. This article explains on how to complete IRS Form 2553 for s corporation. The Get ready to make this election by April 21, 2019. _________ April 21, 2023 — S corporation election is for 2018! We need to make a tax election with IRS today. We've all been there — you're a shareholder in your S corporation. A shareholder is responsible for setting up the business and keeping account in their own book. However, most businesses are owned by individuals. When I was a young man, I worked at Apple Computers. There was no bookkeeper. And for a time, this was perfectly fine by me because I did not own the company. As my company grew, I discovered I did have shareholders (two individuals and a corporation — the largest in our company at the time). I have no idea how many other companies have similar situations. But one thing is certain — the day you get called on a matter in which you have only a single shareholder in your company, you are screwed. There are a few situations where you actually have two or more shareholders in any one company. There's usually one or two of those shareholders who own the business outright or through a limited liability company. In such cases, the business is owned exclusively by an individual, the other shareholders own shares in the company. One option is to split the company evenly. But for me, it was easier to just get rid of the one or two that owned the company — they were not interested in maintaining it. Now let's talk about my situation. I had been the sole shareholder of a local computer repair business in my hometown of Lansing, Michigan. One day I decided that it was time to sell the business and give it a new life. Now, I had plenty of time. I told my wife that the company was not for the long haul, so I said that they could be out the door of the computer repair business soon. I decided that I could easily walk into a new business and become a “part” owner, and I'd simply buy some shares in it.
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