Looking to start an S Corp - Lawyer or Accountant?

[Angel Sanchez]

I need help with filing for an S Corp. I'm all about saving some money where I can, but I've heard that if something is wrong on the filing it may delay or prolong the process and getting in contact with the IRS or state reps can be difficult.

My brother and I purchased a property 50/50. We've been remodeling since November but I've been thinking of filing for an S Corp for tax purposes.

Should I contact a lawyer or accountant? 

Does anyone have any recommendations for SC Upstate?

Also, can we file what we've already spent on remodeling for tax year 2018? I've been keeping the books using Wave apps accounting and have reports showing our share of contributions.

[Daniel Hyman]

@Angel Sanchez

An S-corp can be a valuable tax saving entity, but it is not for everyone. All too often, we see investors create entities that they don't need which ends up: 

A) Costing them more money in accounting and tax fees than necessary and 

B) More time dealing with admin headaches. 

Speak to a knowledgeable tax advisor about YOUR specific situation. Most will provide a complimentary consultation. But don't wait too long. Tax season is already here.