Closing S-Corp - Lost with final filing(s). Hello, first, please excuse my ignorance. Went on my own away from my regular accountant in the middle of 2017.
I?ve seen other old questions on this subject and I?m a slight bit lost. Feeling like I?m in for a bigger headache than I first imagined.
I?m closing my S-Corporation. Marked the 4th quarter 941 return for 2017 as the final one.
At year end had a $1500 balance in the bank. Plus a debt of roughly $1300 for camera equipment purchased in 2017. Paid off $1000 in early 2018 along with a few other items that were due.
Soooo, I?m still working on the final return?but will this really be my final? Or will I be worrying about accounting for that activity in January and February?... and instead, will i end up doing a regular year end return and then a true final return thereafter? (yep, I'm lost).
As for possessions,
Aside from all the intangibles (Websites, software and such) the only thing of ?real? value would be the camera equipment purchased, which I?m sure hasn?t depreciated much at all, along with OLD computers and items which I?m sure have depreciated geatly.
Thus, I?m lost in as far as distributing these items to myself (forms?) and putting this horse out of its misery (procedures?) (filing?)
Any and all direction would truly be appreciated. Thanks in advance. |