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    Question

    Should I close out my S corp?

    I sold my business in the beginning of 2013. I have not been doing any sales since that time. Should I close out my S Corp before December 15th for better tax purposes?
    a few seconds ago 2 Answers

    Best Answer

    Chosen by Asker
    Yes, you can file a "final" tax return for the Scorp. However, if you are receiving payments from the buyer they are technically the Scorps assets that were sold, so you may want to leave it open so these payments can flow through it and onto your K-1. When all payments are complete, then you can close the Corp.
    a few seconds ago

    Other Answers

    • I would

      by Tricia - 16 minutes ago

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