LLC vs S-Corp & Entity Choice
“I missed the strict deadline to file Form 2553 for an S-Corp, can I request late relief to get the tax benefits for this current year?”
Missing the Form 2553 filing window does not always end the discussion, because late S corporation election relief can sometimes be available depending on how the entity has been filing, when the election was intended to take effect, and whether the business and its owners have acted consistently with S corporation treatment. The details of the company’s formation date, prior tax filings, and ownership structure often matter, along with whether there is a reasonable explanation for the late filing. In many cases, the main issue is whether the election can be treated as effective for the current year or only for a later period. A short conversation with a CPA can sort out what applies to your specific numbers.
In your 60-minute session, the KGOB advisor handling it will:
- Read your exact situation and tell you, in plain English, what’s actually going on.
- Lay out your options and the trade-offs — no jargon, no judgment.
- Give you a clear next step you can act on, whether that’s with us or on your own.
“I formed a single-member LLC but forgot to get an EIN, can I just use my Social Security number on my Schedule C without issues?”
“I am transitioning my W-2 income into a consulting business, does electing S-Corp status actually lower my self-employment tax?”
“My solo business is making about the same as my old salary, should I switch from a sole proprietorship to an S-Corp?”
“I have a profitable side hustle on top of my day job, is it worth the administrative cost to form an LLC just for that income?”
This page is a prompt to start a conversation, not tax or legal advice, and states no tax-law specifics as fact. A consult session does not by itself create an ongoing engagement. We do not promise specific outcomes or savings. Kohari Gonzalez Oneyear & Brown PLLC — Charlotte, NC.
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