Re:Tell HN: Submit comments on IRS guidance to SEC 174 expenses
by chatmasta on Saturday November 04, 2023 @03:50PM
(#38144500)
You don't need to decide whether to file as an S-Corp or LLC or C-Corp until tax time. Don't hesitate to open an LLC if you're worried about getting it wrong. It's worth opening an LLC immediately just so you can get a business bank account. You don't need to worry about the tax implications until you actually file them and have to decide which elections to make.
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Re:Tell HN: Submit comments on IRS guidance to SEC 174 expenses
by candiddevmike on Saturday November 04, 2023 @05:10PM
(#38145143)
That's not true... There is a brief window for switching your LLC to a different tax classification, typically at the beginning of the year. It does not change the previous year.