In this video, I'm going to show you how to complete the form to file for the S Corp election. You can make this election if you are an LLC or a corporation. If you are unsure about what the S corporation election is or why you would want it, please refer back to the Small Business University video about choosing the right business entity. We go into depth about why you would want to be an S corporation. The S corporation form is a simple form. I will fill it out and show you how to answer each of the sections. Once you're done, you will need to fax it to the IRS. Without further delay, let's jump into the form and take a look. Here is the 2553 form. You can find it by going to [insert website]. You can fill out the PDF online or print out a blank form and handwrite it. Just make sure it's legible and contains all the required information. When you get the form online, the first page provides information about faxing if you choose to fax it to the Cincinnati office. Scroll past that and you will find the first page of the 2553 form. The form consists of multiple pages, but we will only need to fill out the first two pages unless you have a special situation. Page three and four are typically not required. It's important to note that the form needs to be signed twice. The officer of the corporation must sign at the bottom of the first page. Additionally, all shareholders or owners of the corporation must sign the second page to consent to becoming an S corporation. If it's just you or you and another partner, each of you will need to sign. Now let's go through how to...
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Video instructions and help with filling out and completing Are Form 1120 C Elect
