" I started an S-Corp in November and made a lot of business purchases from my personal account, before the business account was setup. Due to low initial profitability, I wasn't able to reimburse myself until the following year. I understand Accountable Plan Reimbursals, but since the reimbursement funds didn't actually leave the S-Corp until the next tax year, on which 1120S would I actually make the expense claim - the first short year, or the following profitable year?
The itemized receipts are all for the prior year, however, the actual "loss" to the S-Corp doesn't technically happen until the subsequent year. Just trying to stay legal and above suspicion. Thanks."
