Starting a business is exciting, but it comes with all kinds of decisions to make. On the tax front, many entrepreneurs have never heard of Form 2553, but this IRS form can end up giving you one ...

In an S-Corporation the profits and losses are reported on a Schedule K-1 to the shareholders who would then report the information on their personal income tax return (s). An S-Corporation must first ...

Planning Point: In order to qualify as an S corporation, an election must be filed in order to be treated as such. These elections are made on IRS Form 2553, and must be made within two months and ...