Got a new gig as a contractor, and I am considering forming an S-Corp for various reasons.
I have seen a few references to the deadline for electing S-Corp status being March 15th. One example:
If your business is a corporation, you’re already aware that March 15th is the most critical tax deadline of the year. But March 15th is an important deadline for another reason…it’s the deadline for electing S Corporation status.
What I don't understand is, what does this mean? Since that date is past for 2013, I must operate as a sole proprietor until next year?