USA tax accounting - S corp to C corp?

Published by: admin 2009-01-07

We have a small creative business. In 2004 we made a significant profit ($55k before depreciation) We take a very small salary, and the money is used to pay down debt. We have been an S corp and are thinking it might be time to declare as a C corp. We have two weeks till filing. How do we declare as a C corp? What is the deadline for the declaration? Would it be wise since we expect more and more profit, to go ahead and make the change? We are a husband and wife business with no employees.

Four Dumbest S Corporation Setup Mistakes::
A long time ago if you wanted to turn an LLC into an S corporation—before July of 2004 as I recall—you first had to turn it (for tax purposes) into a C
http://ezinearticles.com/?Four-Dumbest-S-Corporation-Setup-Mistakes&id=193623HOME

Freeman & Davis LLP, Certified Public Accountants. New York ::
A regularly taxed corporation (C Corporation) pays federal taxes on its taxable Tax losses incurred by the S Corporation pass through ratably to the
http://www.freemandavis.com/fyi-scorp.htmlHOME

Bringing a Partner From Outside the USA::
Cannot be an S Corp if you have a foreign shareholder; Could be C Corp, could be LLC; May or may not have to pay taxes, depending on the tax treaty that the
http://corporation-llc.legalspring.com/audio/Processes/bringing-a-partner-from-outside-the-usa.aspxHOME