Updated over 9 years ago on . Most recent reply
C-corp vs. S-corp
So my tax accountant filed my 2015 real estate LLC tax return as a C-corp rather than with the S-corp election. This has brought any new bank loans for refinancing or acquistion to a screeching halt. Looking for information on how to proceed from here and want to know how badly I'm bleeding from this mistake!
Most Popular Reply
I want to know how you didn't notice that none of the income or loss passed to you? You have to have thorough conversations with your accountant NOT JUST at tax season.
I just pray to God you don't have any rentals. If you'd like to shoot me a message I'm happy to PM you some information on how to correct this issue so you can get your returns amended.