Business Tax Return

IRS Form 1120-S is the tax form S corporations use to file a federal income tax return. This tax form informs the IRS of your taxable earnings in a tax year. It's used to determine an S corporation's business income, gains, losses, tax credits, and deductions.

IRS Form 1120 is a special document for American corporations to report their credits, deductions, losses, gains, and income. It also helps you determine how much income tax your business needs to pay, as per the IRS. Companies getting taxed as C corporations must file their tax returns with IRS Form 1120.

IRS Form 1065 is used to declare profits, losses, deductions, and credits of a business partnership for tax filing purposes. Form 1065 is filed by domestic partnerships, foreign partnerships with income in the U.S., and nonprofit religious organizations.

Schedule C: Profit or Loss from Business (Sole Proprietorship) is used to report how much money you made or lost in a business you operated by yourself. The form reports how much of the income from your business is subject to tax or whether you have a loss for tax purposes.

What Is IRS Form 706? IRS Form 706 is used to calculate the taxes owed for two situations – estate taxes and generation-skipping transfers. Both situations can trigger tax liability and the form must be submitted separately from your tax returns.

We are always available to spend time with you, so you fully understand how to interpret and utilize the financial information we provide. Please feel free to call us whenever you have a question or concern.