Tax – Sole-proprietor.
— Complete Schedule C, Form 1040, profit & loss from business (sole proprietorship), including schedule SE, self-employment tax;
— Complete form 4562, depreciation & amortization for a sole.
— Complete form 47097, sales of business property, for proprietorship sales of business fixed assets.
— prepare form 8829, expenses for biz use your home for proprietors entitled to a home office deduction;
— assist business owners in making better financial decisions because you understand the tax implications of the decisions.
C Corp.
— Complete form 1120, corporate tax return including the special dividend deduction for schedule C, charitable contributions, and their limitations;
— reconcile the difference between the book and tax income on M-1;
— Complete form 4797 for sale of business property and associated form 1120;
— compute the corporate tax on schedule J; and
— make substantially better financial decisions for clients/companies because they know the tax implications of each decision.
S Corp.
— Complete form 1129S, the US income tax return for an S Corp, including schedules K and K-1
— reconcile the difference between the book and tax income on the M-1;
— complete form 4797 for sale of business property and schedule d of form 1129s;
— The sourcing rules for S Corp distributions to shareholders and complete schedule M-2, and analysis of AAA and OAA; and
— make substantially better financial decisions for clients/companies because they know the tax implications of each decision.
Partnership
— Complete form 1065 and the US income tax return for a partnership, including schedules K and K1 for partners;
— reconcile the difference between book and tax incomes on the M-1;
— complete form 4797 for sale of Business property and schedule d of form 1065;
— Allocation of income, expenses, and liabilities to partners; and
— make substantially better financial decisions for clients/partners because they know the tax implications of each decision.
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