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Updated almost 8 years ago on . Most recent reply

Shawn Choplin's profile image
Shawn Choplin's profile image
Shawn Choplin
  • from East Bend, North Carolina
  • Member since Jan 27, 2017
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Shawn Choplin's profile image
Shawn Choplin's profile image
Shawn Choplin
  • from East Bend, North Carolina
  • Member since Jan 27, 2017
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Shawn Choplin
  • East Bend, NC
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Tax, SDIRAs & Cost Segregation

When to file to be taxed as S Corp?

Shawn Choplin
  • East Bend, NC
Posted

Just created an LLC to do fix and flips through and was strongly considering being taxed as an S Corp to avoid, not evade:), paying the 14 or 15% self employment tax on the dividends above what I'll pay myself as a reasonable salary. I tried looking at other forums for my answer but couldn't find it.

When exactly do I need to declare that I'm wanting to be taxed as an S Corp?  Now or next tax season?  

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