When forming a corporation in California, you might want to consider becoming an S Corporation. However, there are particular qualifications and steps to become one. In this article, we ask what is an S election? What are the qualifications and what is the S Election Form 2553?
An S Election Must be Approved by the IRS
A Small Business Election, or S Election is not valid until approved by the IRS. Many people believe if they set up a corporation and say it's an S corporation, that is all they…
Making law simple
You have decided to form a new business and have your plans in place. The next important step is to form a corporation, but what are your options? You could go to a business formation lawyer, but the fees are typically over $1500.00. This is going to place significant pressure on your start-up funds.
Alternatively, you could go to an online paralegal to file your business legal documents but this can still be costly. You could have to pay $500 to $1000 for online legal services which is only a …