I am a CPA in New York State, and I am a bit embarassed asking this since as a CPA I should probably know this. I have decided to form a professional services corporation for the side tax work that I do (I am currently filing Schedule C since I am not incorporated, I also do work for a CPA firm
3-4 days a week but I am a salaried employee receiving a W-2 from that firm) While I have opened C-Corps/S-Corps for clients, I have never opened a professional services corporation. I have searched the IRS website and other search engines. I do know that form DOS-1523 is what I would use for the New York Certificate of Incorporation. What I don't know is what needs to be done after that (besides filing form SS-4 to get an EIN). Some of the information that I have read online seems to say that a professional services corporation can be a C-Corp/S-Corp or LLC. I am also confused as sometimes when I do searches for professional service corporation, I get information for personal service corporations. What I am looking for is what if any is the difference between a professional service corporation and a personal service corporation. Also, is it true that a professional service corporation can be set up as an S-Corp (which is what I would prefer if possible). If not, then what forms need to be filed besides the DOS-1523 and SS-4? If anyone has a better suggestion for opening a professional services corporation for my situation other than as an S-Corp, please let me know. Thanks in advance for any help on this!
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