Tax Relief with Logan Allec, CPA

Logan Allec

Do you owe back taxes to the IRS or your state government or have unfiled tax returns? Then this is the podcast for you! Every Monday, Wednesday, and Friday, Logan Allec, CPA — owner of A+ BBB-accredited tax resolution firm Choice Tax Relief — explains exactly how to get tax relief for your back tax debt. Would you like a FREE tax relief consultation with Logan's company, Choice Tax Relief? Schedule your consultation now by calling 866-8000-TAX!

  1. Sep 1

    Considering an S Corp Election as a Married Person in a Community Property State? Watch This!

    My Gusto Link: https://loganallec.com/gusto/ Imagine filing Form 1120-S for years believing your S corporation election was valid—only to have the IRS come back and say your business was actually a C corporation the whole time. In this video, I walk through a real-world Form 2553 mistake that can create a massive tax mess, especially for married business owners in community property states. 📞 *Need help with an IRS problem? Call Choice Tax Relief at 866-8000-TAX* 📅 *Book a free tax relief consultation:* https://choicetaxrelief.com/free-tax-... I explain what went wrong with this taxpayer’s S corporation election, why simply filing Form 1120-S does not necessarily mean the IRS accepted your S election, and the Form 2553 shareholder-consent rule business owners in community property states need to pay close attention to. Getting this wrong can potentially mean C corporation taxation for the business and dividend treatment for money distributed to the owner—so this is one detail you do not want to overlook when making an S election. I also discuss the reasonable-compensation requirement for S corporation owners and why I’ve used Gusto to run payroll for my own businesses for years. If you sign up and qualify through my referral link, you may receive a promotional bonus, and I may receive a referral bonus as well. *Topics covered:* • IRS Form 2553 • S corporation election rejected • Form 2553 shareholder consent • Community property states and S corporations • Married S corporation owners • S corp vs. C corp taxation • Reasonable compensation • S corporation payroll

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About

Do you owe back taxes to the IRS or your state government or have unfiled tax returns? Then this is the podcast for you! Every Monday, Wednesday, and Friday, Logan Allec, CPA — owner of A+ BBB-accredited tax resolution firm Choice Tax Relief — explains exactly how to get tax relief for your back tax debt. Would you like a FREE tax relief consultation with Logan's company, Choice Tax Relief? Schedule your consultation now by calling 866-8000-TAX!