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2553 filed out by a PTIN

gurusimple
Level 1

I am a PTIN and my client needs to turn her LLC into a S-Corp. Can I do this as a PTIN or does a lawyer need to advise her? Thank you. 

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5 Replies 5
Terry53029
Level 11
Level 11

I would think if you are asking, maybe you should suggest to your client to see either an EA, or CPA

IRonMaN
Level 15

My words of advice - stick to what you do well and let someone else do the things that you don't have the proper experience with.

I'm keeping this job. But I am selling surplus anvils on the side. If you are interested please call 867-5309
qbteachmt
Level 15

"needs to turn her LLC into a S-Corp."

"Needs" to, meaning, someone is already giving her advice, and that isn't you? That election has been a common mistake seen here.

I recommend a CPA, not a lawyer, because the lawyer will do what you ask. The CPA should give you guidance, first.

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sjrcpa
Level 15

If, after obtaining appropriate tax and/or legal advice, the client does wish to elect S Corporation status for her LLC, anyone can fill out the form.

As hinted at by the others, I can't think of any situation where an LLC needs to be an S Corp. I have seen many situations where an S election was made and should not have been.


ex-AllStar
Terry53029
Level 11
Level 11

@sjrcpa You mean my barber has it wrong 😁