S LLC CorporationTwo papers, not a third company
You have an LLC, and someone may have filed an S election. Steven Palmieri, Tax CFO and the Entrepreneur's CFO, keeps the books under the name those papers support, sets payday up with a provider you run, and prepares the return from a month that already closed.
Name the paper
The certificate names the company. An IRS acceptance is the only proof the election landed.
We sit down with you by video, from whatever state the company is in. The certificate still decides the name. A driveway never rewrote the stamp, and the acceptance letter still has to be in the file before the chart changes words.
Which paper is in hand
You will be talking to the Steven Palmieri practice.
What you say at the bank
The dropdown wants a corporation type. Say the sentence your papers support.
Click to read the bank ›Tap to read the bank ›
The page the state stamped
The state page names the company. The election is a different letter.
Click to see the certificate ›Tap to see the certificate ›
Accepted, or still missing
The letter is the only proof the election landed.
Click to see the answer ›Tap to see the answer ›
If neither paper exists
No acceptance letter means the default already in the law. The mashed label was a wish.
Click to see the default ›Tap to see the default ›
A box checked last spring
Fix the next form while the year is still open.
Click to see the checkbox ›Tap to see the checkbox ›
Do not form another one
A second company means another certificate and another return. A confused dropdown does not require one.
Click to see the pause ›Tap to see the pause ›Six papers, two of them empty
Two boxes stay empty on purpose.
State certificateNames the companyHere
The state created an LLC. That word is what the stamped page says. The S part is not printed there.
IRS acceptanceProof the election landedMissing
This box stays empty until that paper is actually in the file. A copy of what was mailed is not an acceptance. Until the letter arrives, the S part is still a wish.
Last returnThe form already filedHere
The form number on last year's return is the fact. The dropdown on a bank page is not.
The booksWords the ledger usesHere
Member draws and wages are different words. The letter decides which word the chart is allowed to use.
Payday setupA provider you runHere
People get paid by a provider you already chose. We only arrange that setup. If the letter is missing, a wage would be a fiction.
Signed reportLeaves this practiceMissing
This box stays empty until that paper is actually in the file. A signed report on the statements is attest work. It leaves. Preparing the statements, without that signature, can still happen here.
Steven Palmieri, Tax CFO
The shop after close is when the drawer is counted and the day is finally quiet.
Click to meet the practice ›Tap to meet the practice ›Bring the certificate, or say the IRS acceptance is missing. That is enough to start.
Send one paper
You will be talking to the Steven Palmieri practice.
Two papers, and then the work
People type three words because a form mashed them together. Banks do it. Software dropdowns do it. A friend who filed something last spring does it. None of those sources created a new kind of company. There is the company the state formed, and there is an election the IRS did or did not accept.
Once those two facts are named, the rest of the year has a place to stand. We keep the books in the words the papers allow. We reconcile the accounts to the bank before the month is called finished. When the letter says wages belong, a provider you run is where payday is arranged.
If the letter is missing, we do not invent wages to make a dropdown happy. Member draws stay member draws. Forcing a payroll word onto a company that was never elected creates a story the return cannot tell.
On this site the choice waits on two papers. The certificate names the company. The acceptance letter, when the file has one, names the words the chart is allowed to use. Close enough, for an owner who found a mashed label, means close enough to make that choice before the return copies the wrong word.
What a clean month feels like
The relief is plain, and that plainness is why the month matters. Deposits have names. The card accounts match. Owner money is in the right word, draw or wage or distribution, and that word matches the letter. You can see last month without opening a shoebox.
The worry on the other side is a letter from the state or the IRS that uses a name you do not recognize. That letter is easier to answer when the certificate and the election are already on the table. We read it with you. The company you already have stays the company.
October is a kind month for this. The return is not due yet, and the mashed label can still be retired before anyone prints it on line 1. If the acceptance is still missing in October, the chase is short. The certificate, the copy of what was mailed, and a request for the letter.
A kitchen table goes quiet once the notice is face down and the pen is capped. We want that same hush in the books once the certificate and the election agree, and the month can close on the name those papers support.
A picnic can wait until the letter is in the folder. We still ask which paper the company holds, the certificate or the acceptance, before anyone picks a box on a bank form.
A late summer afternoon is when the shop is closed and the form is still on the counter. We would rather fix the next form while the year is still open, before January copies the wrong word.
We enjoy that quiet after close, then ask which paper the shop holds, the certificate or the acceptance letter.
What we will not pretend
We will not say a driveway changes the certificate. We will not say a second formation fee is the fix for a confused dropdown. An attest report is a signature we do not put on the statements. If a lender wants that signature, we say so in the first conversation and point the work to a firm allowed to sign it.
Some calls end in ten minutes because the papers already answer the question. That is a good outcome. You leave with the plain name, and the books can use it next month.