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Im using Turbo Tax Business This a first time

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Hi Im using Turbo Tax...
Hi Im using Turbo Tax For Small Business This a first time file for our new business.We are a S-corp. I have entered all the information as asked for but when I get to the balance sheet it doesn't balance. I can not figure what I am doing wrong. I have tried over and over again with the same result.
Submitted: 2 years ago.Category: Tax
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Answered in 9 minutes by:
2/14/2016
Tax Professional: emc011075, Tax adviser replied 2 years ago
emc011075
emc011075, Tax adviser
Category: Tax
Satisfied Customers: 3,776
Experience: IRS licensed Enrolled Agent and tax instructor
Verified
Hi. My name is ***** ***** I will be happy to help you. If you are required to file Schedule L - the balance sheet you often need to do book to return reconciliation, the schedule M1. Not all business expenses are also deductible for tax purposes. Things like depreciation or travel and entertainment expenses often need to be adjusted.
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Customer reply replied 2 years ago

Aready Have done all that

Tax Professional: Stephen G., Sr Income Tax Expert replied 2 years ago
Stephen G.
Stephen G., Sr Income Tax Expert
Category: Tax
Satisfied Customers: 7,468
Experience: Extensive Experience with Tax, Financial & Estate Issues
Verified
Another expert here................Are you an accountant or bookkeeper?What is the difference between your total assets vs the total of your liabilities + equity?
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Tax Professional: Stephen G., Sr Income Tax Expert replied 2 years ago
Can you attach a copy of the Out-of-Balance Balance Sheet plus your 1120S, page 1?
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Tax Professional: Stephen G., Sr Income Tax Expert replied 2 years ago
Are you still looking for our assistance or have you solved your problems?Steve G.
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