Making the Leap from Schedule C to S-Corp

This session will demystify the transition for those who want to move from sole proprietorship to an S corporation (a move tax professionals are often asked to evaluate), including strategies for addressing compliance requirements and timing.

Objectives

Upon completion of this session, you will be able to:

• Identify key tax differences between Schedule C and S-corp entities
• Evaluate when an S election is beneficial based on client facts
• Navigate late S elections and avoid common pitfalls
• Apply reasonable compensation standards and payroll setup

CPE