
Anonymous
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Business & farm
you really need to see a tax pro to get educated on all the ins and outs of an S-Corp. things like the need to take a salary, loss limitations due to either at risk or basis limitations, possible state tax filings, how to handle health insurance, need for workmen's compensation insurance. section 179 vs bonus depreciation. hopefully, this is for 2020 because if you are asking about a 2019 S-Corp return it's late by about 9 months which would result in the IRS sending you a penalty notice for almost $2,000
‎November 20, 2020
11:25 PM