Saturday November 21, 2009

smSmallBiz.com - SmartMoney's Small Business Site

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S Corp Status Snafu
I mistakenly filed my taxes as a sole proprietorship rather than an S corp this year. Does this filing change my corporate status?
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Rich, Business Advisor, SCORE Montco, PA Posted: 12:03 PM On July 7, 2009
May I recommend the FREE mentoring services of SCORE, a resource partner of US Small Business Administration with 400 chapters nationally. These dedicated volunteers and professional business men and women can assist you in any facet of your business. You can either go to my chapter's website www.score513.org or national's at www.score.org for a plethora of information and instruction. We also offer free and low cost seminars for individuals such as yourself to start and growth your business. Please contact me directly (rdefalco@score513.org) for a free 32 page booklet 'How to Really Start Your Own Business'.
As recommended previously don't dissolve the S corp. Actually there are tax advantages and asset protection of the corp. vs. sole proprietor.
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