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It Takes Two: Business Partnership Income (Form 1065)

When it comes to business partnerships, successful teamwork and good communication can lead to great things for your company, your employees, and your clients. As we get closer to tax time, it’s important that you file the correct income documentation for your business with the IRS, and the 1065 form is just what you and...Read More

1040 Schedule C: How the IRS Works for Your Small Business

This post was updated in April 2018 So you’ve started a small business: you might be freelancing, selling homemade soap at craft fairs, building state-of-the-art dog houses, or serving up the best grilled cheese sandwiches in the city. Whatever your small business involves, come tax-time you’ll identify as self-employed with the IRS. You’ll need to...Read More

Corporate Tax Returns: Form 1120S

Form 1120S is specifically designed for S corporations. In general, S corporations do not pay any federal income taxes. Instead, the corporation’s income or losses are divided among, and passed through, to its shareholders. The shareholders must then report the income or loss on their own individual income tax returns. Just as a 1040 form is...Read More