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2553 filed out by a PTIN

gurusimple
Level 1

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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5 Comments 5
Terry53029
Level 14
Level 14

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.

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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.
Terry53029
Level 14
Level 14

@sjrcpa You mean my barber has it wrong 😁