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All Forum Posts by: Joseph Almeida

Joseph Almeida has started 1 posts and replied 2 times.

Tax, SDIRAs & Cost Segregation

Post: LLC bank account while being recognized as a S-Corp

Joseph AlmeidaPosted
  • Posts 2
  • Votes 1

As far as I know in ny state you have to actually form a new entity to file as an Scorpio? Which gives me a new tax I'd # and since my bank account was opened with the LLC tax number I'm supposedly stuck filing as LLC? Even though I'm recognized as an scorp?

1 Vote
Long Island, New York
Tax, SDIRAs & Cost Segregation

Post: LLC bank account while being recognized as a S-Corp

Joseph AlmeidaPosted
  • Posts 2
  • Votes 1

I formed my business as a LLC in November 2022 my accountant then formed an S-Corp with the same business name in march 2023 NY state back dated my S-Corp to November 2022 I didn't know I needed to open a new bank account with my new S-Corp tax ID #. I used the LLC bank account all 2023 and now my accountant is saying I need to file under the LLC which the difference in what I will owe is $9600.00 filing as an LLC as apposed to filing as a S-Corp which i would owe $2000.00.

Is there anyway to file as an S-Corp or am I stuck?

Thanks in advanced.

0 Votes
Long Island, New York