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Should I amend s-corp previous years just to fix some
Should I amend s-corp previous years just to fix some numbers on the balance sheet on 1120s? Cleaning up the books and there's stuff like a nonrecourse loan mistakenly listed as a loan from shareholde… read more
PDtax
PDtax
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I'm a single member s-corp and for some reason on my H&R
I'm a single member s-corp and for some reason on my H&R Block software I'm getting the Error...Error: There Must be more than 1 partner entered on the K1....but it's only me!! Ahh! So frustrating and… read more
Dr. Fiona Chen
Dr. Fiona Chen
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We are two members who owe a LLC (50/50). The LLC owes a C
Hi,We are two members who owe a LLC (50/50). The LLC owes a C Corp (100%)how should we file the C Corp tax return? Should we file a separate Form for the Corporation (Form 1120) and disclosue the Corp… read more
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I had an S-corp, paid the quarterly tax in April of last
I had an S-corp, paid the quarterly tax in April of last year and marked it as Final, and closed the business. But I just received a 1099-MISC with the closed business' EIN from one of the clients. Am… read more
Mark D
Mark D
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Background LLC—Owned the real estate and held a significant
Background LLC—Owned the real estate and held a significant portion of the debt to SBA and others. I was the sole member of the LLC S Corp-Operated the business and held some of the SBA debt (leasehol… read more
PDtax
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Can an SBA loan (or any loan that's guaranteed by the owners
Can an SBA loan (or any loan that's guaranteed by the owners of an LLC taxed as an S-Corp) be recorded as Loans from Shareholders on the balance sheet of the 1120S? The loan is in name of the LLC and … read more
Mark Taylor
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2015 is my first year in business. I filed an extension 1065
2015 is my first year in business. I filed an extension for my 1065 but realized it should have been an extension for 1120S since I take wages. It's a short year for 2015 as well - only two months. I … read more
emc011075
emc011075
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When are forms 1065, 1120, and 1120s due? I heard that they
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Lane
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Doctoral Degree
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I made the mistake last year of using a payroll service to
I made the mistake last year of using a payroll service to pay me on payroll and just realized as a single member LLc you are not suppose to do that. This year I am going to file form 8832 to change m… read more
Mark D
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I have a client with an s corp, this company owns 10 van to
I have a client with an s corp, this company owns 10 van to transport clients , the same owner also has another company that is an 1065. She tranfer the vehicle title to the 1065 company i am assuming… read more
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I have a us a company that is being issued a 1042-s how will
I have a us a company that is being issued a 1042-s how will this be filed so the us company can receive their refund… read more
Robin D.
Robin D.
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WE had a business an S corp. The business fell apart and my
WE had a business an S corp. The business fell apart and my sister who was a 40% shareholder walked away leaving me to close down the business. I paid what debt I could and most diapppeared but we sti… read more
Stephen G.
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Megan C
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Last year (2102) my client a 100% owner of s-corp went to bank
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PDtax
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Alrighty, I had a multi-member LLC in the past, issued myself
Alrighty, I had a multi-member LLC in the past, issued myself a K-1 and paid myself as a W2 employee and never had to pay taxes, infact, I always got about $1000 back. I no longer have a business part… read more
Jax Tax
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I am trying to dissolve an s-corp with 1 shareholder that has
I am trying to dissolve an s-corp with 1 shareholder that has not been in business for years. There are no assets and accounts payable and a loan from the shareholder are to be written off. Retained e… read more
PDtax
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If I trade assets in my S-corp for another person to pay off
If I trade assets in my S-corp for another person to pay off a $500K SBA loan, will I be liable for taxes on that SBA retired loan? Basically I am trading a product line and trademark for someone to p… read more
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Senior Tax Attorney
Master's Degree
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My husband and I are they shareholders of our S-Corp. We are
My husband and I are they shareholders of our S-Corp. We are in our second year of an e-commerce business and we are still paying for business loan we took out to buy the websites. Where do we claim t… read more
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