S-Corp and annual filings

[Dan Roma]

I am in the process of setting up my first S-corp. I have read information on my state regarding minutes and bylaws. I've done all that so I believe I have everything I need to get started. However, what is required on an annual basis? Is a CPA recommended?

[Basit Siddiqi]

@Dan Roma

A CPA is recommended but not required.

A couple of talking points - You need to apply for a corporation to have S-Corp status.
S-corps tax returns are due 3/15 with the possibility of it being extended to 9/15.

You may want to look into creating an LLC that is taxed as an S-corp. This may potentially require less administrative items like minutes/bylaws. However, you should read the rules to see what is required or speak with an attorney.