Can Dentist Elect To Be An S Corporation

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What type of entity should a dentist consider selecting and why?

    https://newdentistblog.ada.org/what-type-of-entity-should-a-dentist-consider-selecting-and-why/
    This means that a dentist who forms their entity as a PLLC with an S-Corp election gets the benefit of lower administrative legal hassles, with the self-employment tax savings of a corporation. As such, this has become the default …

Which entity is right for your practice? | Dental Economics

    https://www.dentaleconomics.com/money/article/16387956/which-entity-is-right-for-your-practice
    S corporations must pay reasonable compensation to the doctor/shareholder for services provided, which is subject to payroll taxes. Doctors can …

S Corporations | Internal Revenue Service - IRS

    https://www.irs.gov/businesses/small-businesses-self-employed/s-corporations
    Not be an ineligible corporation (i.e. certain financial institutions, insurance companies, and domestic international sales corporations). In order to become an S …

About Form 2553, Election by a Small Business Corporation

    https://www.irs.gov/forms-pubs/about-form-2553
    Form 2553 is used by qualifying small business corporations and limited liability companies to make the election prescribed by Sec. 1362. A corporation or other entity eligible to …

Survey Says: 9 Out of 10 Dentists Prefer the S-Corp or the LLC

    https://www.dentistryiq.com/practice-management/article/16363559/survey-says-9-out-of-10-dentists-prefer-the-scorp-or-the-llc
    Two entities are used the most often for dental practices: 1) The professional corporation that elects to be taxed as an “S” corporation (an “S Corp”), and. 2) The …

Electing S status by an LLC - The Tax Adviser

    https://www.thetaxadviser.com/issues/2020/apr/electing-s-status-llc.html
    An entity that makes the deemed election to be taxed as a corporation by filing the S election, Form 2553, will be classified as a corporation on the date the S …

The S Corporation Trap | Dental Economics

    https://www.dentaleconomics.com/science-tech/article/16387279/the-s-corporation-trap
    To avoid the Trap, we promote a rule of thumb dictating that dentist-clients should not use an S Corporation form if the following issues are present: 1) the dental …

Can a Professional Corporation Be an S Corp | UpCounsel 2023

    https://www.upcounsel.com/can-a-professional-corporation-be-an-s-corp
    Requirements for your professional corporation to qualify for S taxation status are as follows: The corporation must have fewer than 100 shareholders …

Should I Make A S-Corporation Election? - Forbes

    https://www.forbes.com/sites/brianthompson1/2021/03/11/should-i-make-an-s-corporation-election/
    As a single member LLC or a partnership, you can elect to be taxed as an S-Corp, as long as the election is made no more than two months and 15 days (3/15) after …

How To Change An LLC To An S-Corp (2023 Guide) - Forbes

    https://www.forbes.com/advisor/business/how-change-llc-to-s-corp/
    No, you do not need to change the name of your business to change to S-corp tax election. A business can remain an LLC and keep its business name while …