Tax Law
I am in California. I have four s corps for my four business startups. Since they're all private startups owned and operated by me, you can tell that I'm putting in a lot of money & taking out little to nothing to keep things running. I am paying a lot in tax and accountant fees just for operating four separate entities. At first, I thought of a holding company, but then I realized I would have five separate entities so that it would be worse for my situation. I was looking into QSub. Will the companies remain registered as corporations and maintain their Inc suffix? If yes, do I still need to file the state's SOI and FTB for each or just a master one?
1
Answers
Fractional CTO
First: Get out of California.
Move to Texas or Tennessee or Florida, where taxes are far lower.
This single step will solve many problems.
Next: Work with an attorney to answer your questions.
Also a tax professional.
Cheapest tax professional you can hire is H&R Block Executive Tax Services.
This is a special... fairly unknown part of H&R Block which deals exclusively with complex + multi-jurisdictional entities.
You'll find no better expertise/intelligence any cheaper than H&R Block Executive Tax Services.
Answered almost 4 years ago