@user17581251092 wrote:
Can I 'do-it-yourself' tax returns,
I really, really, really advise against it.
You really need to go to a tax professional for AT LEAST the first year of the corporation. AT LEAST.
Actually, you should go NOW, before the end of the year for a consolation to check if you are doing things correctly, including putting yourself on payroll, accountable plans, and much more.
Actually, if you did not do so, you should have gone BEFORE making the S-election. Did you discuss the pros and cons of the S-election with a professional? Despite what clueless people on TikTok say, an S-election may not be in your best interest. Way too many people make the S-election without realizing what is involved and the negative aspects of it, so you will want to be sure that you are familiar with the pros and cons of that election.
