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Making the Election to be an S Corporation [Video]

Making the Election to be an S Corporation

To make a valid election to be an S corporation, a corporation must meet the requirements for being an S corporation and file Form 2553 with the IRS. Once a valid election is in place, the election remains in force until revoked or terminated.

As for the timing, the election to be an S corporation must be filed on or before the fifteen day of the third month of the tax year in which the S corporation status would begin. Thus, a C corporation that is a calendar year taxpayer and wishes to become an S corporation starting on January 1, 2024 would need file Form 2553 on or before March 15, 2024 (can file anytime during 2023). For newly-formed corporations, the two-and-a-half-month deadline begins at the earliest occurrence of these events:
– The corporation has shareholders
– The corporation acquires assets
– The corporation commences business operations
The IRS may accept late filings for reasonable causes (you need to explain this in Form 2553).

Also, to make a valid election, all shareholders must consent to the election in writing (they need to sign Form 2553). A consent extension may be granted in certain circumstances.

0:00 Introduction
0:10 Filing Form 2553
0:45 Timing of the election
2:02 Timing exception (new corporations)
3:23 Shareholder consent
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All about Stock halt- Easy Explaination- Part 1 [Video]

In this video, you will learn about stock halt, its rules, and how it is triggered.#stockhalt #stockmarket #wallstreetmojo #stockexchange #regulatorChapters:00:00 – Introduction00:35 – What is the stock halt?01:29 – Rules02:17 – Triggers of stock halt02:48 – ConclusionWhat is the stock halt?A stock halt is a scenario where the exchange halts trading in a particular stock for some time.It may be done when a regulatory action is imposed, important news is being anticipated, or a particular stock is just being bought or sold excessively.(Explained in detail in the video)RulesWhen a stock is halted for trading, it is coded with an identification number like T1, T2, T5, H10, etc.When the situation arises for halting trading in a particular stock, the exchange announces a halt to all brokers.Triggers of stock haltIf the stock price fluctuates up and down due to high volatility, then the exchange will either halt the trading, or the circuit breakers will be activated.Trading halts have been put into place so that a select group of individuals with significant capital does not manipulate prices to their whims and fancies.This will be all for this video. Subscribe to the channel, like the video, and share it with others.==========================================================================Subscribe to Our Channel –Youtube https://www.youtube.com/channel/UChlNXSK2tC9SJ2Fhhb2kOUw?sub_confirmation=1LinkedIn https://www.linkedin.com/company/wallstreetmojo/Facebook https://www.facebook.com/wallstreetmojoInstagram https://www.instagram.com/wallstreetmojoofficial/Twitter https://twitter.com/wallstreetmojo

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Accountant or Bookkeeper? Which Role Is Right for You [Video]
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Accountant or Bookkeeper? Which Role Is Right for You [Video]

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