
Anonymous
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Business & farm
I suggest you use a tax pro the first year to prepare the S-Corp return. besides the need to take a salary you would also have to file payroll tax returns and pay in payroll taxes. There's the need to maintain adequate records, possibly have workmen's compensation insurance. Also based on what your business is doing the pro can advise on using an S-Corp or LLC. each has its pros and cons.
‎October 10, 2020
7:33 PM
2,251 Views