Entity Formation (FAQ)

There are many differences between an LLC and a corporation, both large and small. One of the most significant differences is the ownership structure. An LLC is owned by one or more individuals, while a corporation is owned by shareholders.

SmartCloud Tax offers our LLC formation service at no cost; however, your Washington State will charge a tax-deductible fee, which varies by license type. Our fees apply only to value-added business services, available at different price points based on your selected package.

We generally recommend forming an LLC due to its numerous advantages for small business entrepreneurs. After forming an LLC, you have 75 days to consider choosing a different business structure, such as an S corporation.

Most states process business registrations within 14 business days, although this timeframe can vary based on their current workload.

Once your filing has been submitted, your SmartCloud team will notify you through the message center with an update.

Once approval is received from the state, we apply for the EIN number, and we will deliver all of your documents in your SmartCloud Tax Client Portal. Approval is normally completed within 3 business days.

With the documents we provide you will be able to open a business bank account as long as you have the state correspondence, EIN letter and Operating Agreement (available as an add-on purchase).

Please note that SmartCloud Tax & Accounting is not involved in licensing and permits associated with business registration. To continue with those it would be best to contact your state’s Secretary of State or ask your SmartCloud Team for more information.

We will supply you with a pre-filled IRS Form 2553, containing all your necessary details. Just print, sign, and send the form to the IRS to elect S corporation tax status.

Send messages to your team directly through the message center in your SmartCloud Tax Client Portal. This is your go-to place for all inquiries and communications.

Your accounting team will send you a message in the client portal with a copy of the extension forms and confirmation that your extension has been submitted and filed.

Login to your SmartCloud Client Portal, and navigate to the task section. From there, fill out and submit a questionnaire and upload important tax documents.

• Started Means you have started answering the questionnaire but haven’t submitted it.

• Info Submitted Means you have submitted the questionnaire.

• Additional Info Needed Means we sent you a message in the message center for additional information we need to complete your return. Please respond back to the message.

• Preparation Means we are working on your tax return.

• Internal Review Means your tax return has been completed by the accountant, and a manager is reviewing it.

• Client Review Means we have sent you the tax return to review and approve.

• E-File Means we have electronically filed the return on your behalf with the IRS.

• Completed Means the IRS has accepted the tax return and you are all set!

Login to your SmartCloud Client Portal, and navigate to the mmessages section. Please upload the tax notice to the respective tax year folder, and schedule an appointment with your tax advisor.

Login to your SmartCloud Tax Client Portal and navigate to the messages center in the left navigation. Start a new message, select a recipient, write your message, and select ‘Send’.

First payment Due dateApril 15, 2024. SmartCloud Deadline DateApril 8, 2024.

Second payment Due dateJune 17, 2024. SmartCloud Deadline DateJune 10, 2024.

Third payment Due dateSeptember 16, 2024. SmartCloud Deadline DateSeptember 9, 2024.

Fourth payment Due dateJanuary 15, 2025. SmartCloud Deadline DateJanuary 8, 2025.

Your password is the last six digits of your Social Security number for your personal return and the last six digits of your business EIN for your business return.

Login to your SmartCloud Client Portal and navigate to the Documents section in the left navigation. From there, select either Business or Personal Tax Information depending on the nature of the tax document, and click ‘Upload Documents’.

You can also utilize the upload documents button from the main dashboard’s widget for the current tax year’s tax return status.

Login to your SmartCloud Client Portal, and select messages on the left side navigation. Click on icon to link attachments, and select ‘Upload Documents’ on the page and click "Send"

Login to your SmartCloud Tax Client Portal, and select messages in the left navigation. From there, send your message requesting more information about your return.