Good checklist for forming a S corp?

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I’m managing the books for my wife’s business. She’s had some success:

Year 1 - revenue $5k (tax expenses $10k)

Year 2- revenue $9.7 k (tax expenses $10k

This year revenue $35k (tax expenses $12k)

Next year is on track to be $100k revenue ( tax expenses $22k)

So…

Time to form an S corp?

I’m trying to form a checklist of things to do

1.) form LLC 2.) Turn LLC into S Corp 3.) get taxpayer ID for S corp 4.) open bank accounts in business name 5.) figure reasonable salary for her to pay herself 6.) set up payroll (I need a separate list for this

7.) what else?????

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zenfrog80

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Posted: 1 year ago
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