Monthly Archives: September 2011
Small Business Tax Questions – Do You Need A Balance Sheet on Form 1120S?
If you own an S Corporation, you must file Form 1120S every year to report income and expenses to the IRS. Part of Form 1120S is a balance sheet. Read on to find out whether you have to complete this … Continue reading
Posted in tax questions, tax return preparation
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What Is the Difference Between a W-2 and a 1099-MISC?
If you own a business and are paying people who perform services for you, it is critical that you understand the difference between Form W-2 and Form 1099-MISC. Form W-2 is issued to employees at the end of the year. … Continue reading
Posted in Form 1099-Misc, tax questions
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Small Business Tax Questions: How Are Partners Taxed?
If you are a partner in a partnership, are you wondering how your income from the partnership is taxed? This article will answer that question. By “partner”, I’m referring to someone who is in business with at least one other … Continue reading
Posted in partnerships, tax questions
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Year-End Payroll Forms: What Are W2’s and 1099’s?
Any business that has employees and/or independent contractors must end the year with another small mountain of paperwork to climb. Let’s talk about what forms you must file once the year is over. I call these “payroll information forms” or … Continue reading
Are You Ready For The September 15 Tax Return Deadline?
If you filed an extension for your 2010 corporation, partnership or LLC income tax return, this is a friendly reminder that the September 15 due date is just a few days away. Are you ready? (NOTE: If you need help … Continue reading