New Corporation - Too late to elect S status for 2008? I incorporated in August 2008. Other than the incorporating fees and a few office supplies, I had no other expense and also no income. I would like to use this losses to offset my profits on my sole proprietorship business.
I'll be filing my first tax return now in 2009, so I was wondering, if I apply for S status until march, 15th 2009, will I be able to file taxes for 2008 as an S corp or I'll have to file 2008 as C corp and only next year I'll be able to file as S corp for 2009? |