Convert LLC to S corp

[Duane Anderson]

I obtained a new client and they have been operating for some 8 years as a LLC and reporting as a sole proprietor. At this time, can I convert them to a S corporation and what forms do I need to complete to do that...Thanks,,Duane Anderson

[TaxGuyBill]

First ... have you determined the being taxed as an S-corporation is the best option for this business? And does the client fully understand the extra paperwork and expenses involved, including being on payroll and paying YOU for payroll returns and the corporate tax return?

If so, Form 2553 is the form to use to have the LLC be taxed as a corporation. It can be made effect for January 1st, 2021 (assuming it is a calendar year business).