You're an S-Corp, Now What? | Steps to Take After Becoming an S Corporation

How to Successfully Maintain Your S Corporation

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So you followed everyone's advice and converted to an S Corporation... but now what?

Did you know there are certain rules and forms you must follow in order to maintain your s corp status?

And if you don't, the IRS will revoke your S corp status, and take away those tax benefits that come with S corporations.

In this video, I breakdown the requirements in order to successfully maintain your S Corporation and the forms that you need to file.

Watch to learn more.

Outline:
Intro: (0:00)
Recap of reasons to be an S Corp: (0:53)
Reasonable compensation: (1:47)
Quarterly payroll reports: (2:58)
Annual payroll reports: (3:38)
Forms W-2/W-3: (4:27)
Annual tax return: (5:31)
Bookkeeping: (6:07)
Bank account: (6:34)
Annual state fees: (7:08)

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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).