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great, thank you
You're fine to incorporate in the middle of the year.
You just have to notify the IRS of your intention to be taxed as an S-Corporation by filing IRS Form 2553 no later than the 15th day of the third month following your date of incorporation
So it's not Jan 31 that you have to file this form
ok. that is good to know. What is a good reference book to read to get familiar with what deductions and how to properly take them to minimize tax implications
JK Lasser's Tax Deductions For Small Businesses
can I lease a car and fully charge it off to my s corp form communitng to the client site?
The car can only be used for business purposes - you can write off the lease charge and other expenses related to the car or you can deduct mileage but not both.
Thank you! That should get us through until we can arrange for a CPA
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