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Too late to form s-corp for 1099 work

Home Tax Reduction Too late to form s-corp for 1099 work

  • Avatar DAK 
    Participant
    Status: Other Professional
    Posts: 23
    Joined: 11/30/2016
    Earnest refinancing bonus

    Thanks for the answer, that is really helpful.  I’m pretty sure I could get the company formed before payment is received and I am using cash-basis.  However, the original contract was between myself personally and the client.  Although I have the right to assign the contract to a S-corp, I think it is just neater to pay the “stupid tax” of higher payroll taxes on this via Sch C, and form a S-corp for legal contracting purposes and for payments prior to the next batch of work that I do with this or another customer.

    Cheers!

    #221342 Reply

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