Small business folks, remember that now is the time to discuss filing an S-election with your accountant. Eligible entities may elect S-Corporation status for 2023 until March 15th (although late elections are common).
Electing S-Corporation status can be very advantageous for operating businesses.
Note that your entity does not necessarily need to be a state law corporation to qualify. LLCs are generally eligible to elect S-Corporation status.
Contact Us today with any questions about s-corp elections or formations.