anaban
Level 2
06-14-2022
02:46 PM
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Oh I got it. So what you’re saying that because he never did his homework and never made a contribution so his S/C Corporation, never opened a business account and separated himself for the business he has no grounds of showing that he has an actual corporation.
Or rather he will have a 0 1120 for 2021and 2022. And have this period on a schedule C.
And then formally open a bank account now, make a contribution to S Corp and transfer the assets from LLC to S corp. And send 2553 to apply for S Corp.
I don’t think I can do that. Any idea how much an CPA will charge to for the LLC-S Corp transfer?
I will try to persuade to keep the schedule C until he can afford to pay for that. Thanks for the help.