2553 filed out by a PTIN

Forum|Forum|5 years ago
February 8, 2021
5 replies
7 views

I am a PTIN and my client needs to turn her LLC into a S-Corp. Can I do this as a PTIN or does a lawyer need to advise her? Thank you.

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Terry53029

Intuit Community Champion

I would think if you are asking, maybe you should suggest to your client to see either an EA, or CPA

IRonMaN

Level 15

My words of advice - stick to what you do well and let someone else do the things that you don't have the proper experience with.

Slava Ukraini!

qbteachmt

Level 15

"needs to turn her LLC into a S-Corp."

"Needs" to, meaning, someone is already giving her advice, and that isn't you? That election has been a common mistake seen here.

I recommend a CPA, not a lawyer, because the lawyer will do what you ask. The CPA should give you guidance, first.

Don't yell at us; we're volunteers

sjrcpa

Level 15

If, after obtaining appropriate tax and/or legal advice, the client does wish to elect S Corporation status for her LLC, anyone can fill out the form.

As hinted at by the others, I can't think of any situation where an LLC needs to be an S Corp. I have seen many situations where an S election was made and should not have been.

The more I know the more I don’t know.

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Terry53029

Intuit Community Champion

@sjrcpa You mean my barber has it wrong 😁

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