May 23, 2022 – Online 2553 is delighted to announce the official launch of its new website, developed with the primary goal of assisting small businesses with properly filing Form 2553.
The company’s new online platform was specifically designed to allow small business owners, as well as other eligible individuals, to seamlessly complete and file the required documents for transforming themselves into S Corporations.
According to the Federal Tax Code, a corporation will continue to be treated as a C Corporation, unless its owners take the necessary steps to transform it into an S-Corp, which begins by filing the IRS Form 2553.
Among the many benefits that come with an S-Corp status, the most significant is perhaps the fact that an S-Corp’s net income is only taxed once, whereas C Corporations can potentially be taxed twice, both at the corporate and shareholder levels when dividends are eventually paid.
In addition to being able to write off start-up losses, an S Corporation can also save a fortune in taxes, by shifting the burden of paying its taxable income unto its shareholders. The income from the business is reflected in the shareholders’ personal returns and taxed at the same rate as their personal tax.
While the process of electing to become an S-Corp gives businesses the ability to lower their employment taxes, the law is however very specific on the kinds of businesses that are eligible for such transformation, and often rejects applications not filed on time.
With its new platform, Online 2553 has taken away the headache of filing, by allowing business owners to complete the otherwise tedious process in only a few minutes. Founded by a CPA, the firm possesses years of experience in the sector and works directly with the IRS to help businesses file Form 2553 accurately and on time.
For further information on the firm’s new filing process, and to learn more about Online 2553’s services, please visit www.online2553.com.
Media Contact
Company Name: Online 2553
Contact Person: Phil Jenkins
Email: Send Email
Country: United States
Website: https://online2553.com/