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Video instructions and help with filling out and completing form 2553 instructions 2018

Howdy everybody Justin here chapter one of what I hope to be many many many more chapters on educational content around the tax and financial function of your business and today is the beginning stages of that and I'm going to share as much information as I know about forming a corporation getting an identification number and filling out what's called an S election form for that corporation to be treated as a flow-through entity and that's form 2553 look I'm gonna keep this short I'm going to keep this sweet and I'm going to keep this as laymen as possible I'm assuming nothing however the things I will assume you all live in the state of New York because that's where I'm licensed I'm going to assume you do and you know nothing and my only goal here today for this video is to give you the confidence to do this on your own without having to spend a shitload of money in legal fees accounting fees etc you can do it for less than $200 using my video as a tutorial using the images and maybe a couple of q and A's with myself but I'm pretty confident you can do it down below in the comments as a link a direct link to the state of New York division of corporations on how to form a corporation yes this might not be your state but let's just assume it is click on the link it's how you fill it out all you need is a name of your corporation it's gonna tell you right then in there if it's available and some basic information on your business address social security number etc so the next couple of seconds are including some official approved documentation that supports a core perform a ssin you can essentially use this as cheat sheet it's exactly the way it is filled out online and I didn't do mine online it was actually approved manually but the next four pages just basically show what that looks like screengrab it bookmark it whatever you need to do that should be your cheat sheet and your benchmark to do it on your own you the very next step is to get an identification number it's called a federal employer identification number FBI and the second comment I listed below is a direct link to the IRS website to fill it out don't be fooled do not pay for this it is free on the IRS website once you're done with the application online they give you a PDF with your ein right then and there you don't want to do it online I also put in there a link for the SS full application which is a PDF if you want to fill it out good luck so this next image that's gonna be up for a few seconds is my ion that's the letter I got after I filled out the application online