Hello,
I started a business this past year, and I originally filed with my state as a sole proprietor. I want to transfer over to an S Corp because I would like to have my business taxes and personal tax separate from one another.
I haven't made any money yet in my business, but I will have a small income once I transfer over to the S Corp (launching membership features).
That being said, when I file my taxes at the end of the year, would I include my business deductions (Jan-Oct) from when I was a sole proprietor on my personal taxes, and then income/expenses from my business (Nov-Dec) separately? Or could I put all of the years expenses onto the S-corp taxes?
Thanks for your help!
