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Posted: 12/7/2018 5:28:04 PM EDT
I'm going to xfer 4 old cans to myself from my NFA corporation over the next year or two and dissolve the corporation as its not needed anymore since theres no cleo sigs.

Anyone know a TX CPA that can help me file the final return and what order to do things that knows what this is so i dont have to explain it from scratch?  My CPA charges $600 for corporate returns and i dont need that kind of service.
Link Posted: 12/8/2018 12:05:42 AM EDT
[#1]
What AO are you in so we know whether we know an accountant near you.

BTW, it sounds like you have made up your mind, but was the CLEO sign off the only reason you went to a corporation? I maintain my trust because there are significant benefits beyond the former CLEO piece. And, there is no doubt you can cut your cost of tax returns down significantly if you want to maintain the other flexibility that the corporate ownership brings.  Just a thought.
Link Posted: 12/8/2018 8:49:47 AM EDT
[#2]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
What AO are you in so we know whether we know an accountant near you.

BTW, it sounds like you have made up your mind, but was the CLEO sign off the only reason you went to a corporation? I maintain my trust because there are significant benefits beyond the former CLEO piece. And, there is no doubt you can cut your cost of tax returns down significantly if you want to maintain the other flexibility that the corporate ownership brings.  Just a thought.
View Quote
I'm in south Texas.

No I don't need the hassle anymore.  I've had it for almost 20 years and tired of filing the tax forms.  I only went with it because I couldnt get signatures for can's a long time ago.
Link Posted: 12/10/2018 5:48:56 PM EDT
[#3]
I have an LLC and it takes 5 minutes or less to file a No Tax Due franchise report online. I've even done it sitting on the throne at work.

CPA for a Corp? Did you use it as a business as well?
Link Posted: 12/10/2018 9:58:20 PM EDT
[#4]
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Quoted:
I have an LLC and it takes 5 minutes or less to file a No Tax Due franchise report online. I've even done it sitting on the throne at work.

CPA for a Corp? Did you use it as a business as well?
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I complete the franchise tax forms easy. But as a C corp I'm required to file a tax return with the IRS.  Still not difficult, however I'm tired of doing it even though the forms are the same year to year.

The business is investment holding, which are the can's. So yes its a business.

Nobody has someone off hand they can recommend?
Link Posted: 12/10/2018 11:12:48 PM EDT
[#5]
Do it yourself?

But I'm not sure if you really need someone to do it for you. I went with LLC as there's less headache than a Corp.
If your Corp was only for those 4 can...eh...I wouldn't really call it a business and thus it should be pretty straight forward.

Id do it after you transfer the NFA though.

SoS has always been very helpful and very friendly with me when I call.
Link Posted: 12/11/2018 7:18:25 AM EDT
[#6]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Do it yourself?

But I'm not sure if you really need someone to do it for you. I went with LLC as there's less headache than a Corp.
If your Corp was only for those 4 can...eh...I wouldn't really call it a business and thus it should be pretty straight forward.

Id do it after you transfer the NFA though.

SoS has always been very helpful and very friendly with me when I call.
View Quote
Its not that I need someone to do it for me, its that I need to know how and what order to do things and how to show the assets as they drop off the corporation.  There are different tax rules for S and C entities.   I dont mind at all writing a check for 100$ for a CPA to file the final return.

Its called CYA.
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