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Q: USA tax accounting - S corp to C corp? ( No Answer, 0 Comments )

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Subject: USA tax accounting - S corp to C corp?
Category: Business and Money > Accounting
Asked by: orkjr-ga
List Price: $25.00

Posted: 01 Mar 2005 17:55 PST
Expires: 03 Mar 2005 10:49 PST
Question ID: 483216

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.

Clarification of Question by orkjr-ga on 01 Mar 2005 17:57 PST
We have Turbo Tax and work with Quick Books Pro

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