US Taxation

Filing Form 1065 for Real Estate Investment Partnerships

Real estate investment partnerships (REIPs) can be an effective way to pool resources and invest in property, but they come…

2 months ago

Filing as an S Corporation vs Sole Proprietor: Which Saves More in Taxes?

When it comes to choosing the right structure for your business, understanding the tax implications is critical. Many small business…

2 months ago

Filing 1120S with Multiple Shareholders: Allocation and Basis Tracking

Filing Form 1120S for an S Corporation with multiple shareholders presents unique challenges, especially when it comes to allocating income,…

2 months ago

Filing 1040 as a Dependent: What You Can and Can’t Claim

Filing a tax return as a dependent can be a bit tricky, especially when you're unsure of what deductions and…

2 months ago

FAQs on Late Filing Penalties and Extensions for 1120

Filing corporate taxes accurately and on time is essential for avoiding penalties, interest, and other complications. However, due to various…

2 months ago

FAQs for Filing 1120S with Zero Revenue or Net Loss

Filing taxes can be a complex process, especially for businesses operating as an S Corporation (1120S) that report zero revenue…

2 months ago

FAQs: Filing Form 1065 with No Activity or Dormant Partnerships

For partnerships in the U.S., filing Form 1065 is a crucial part of the annual tax filing process. Form 1065,…

2 months ago

Exemption Certificates: What They Are and How to Use Them

Exemption certificates are powerful tools used by businesses to claim exemptions from sales tax, use tax, and other specific tax…

2 months ago

End-of-Year Tax Planning Tips to Lower Your Tax Bill

As the year draws to a close, many taxpayers look for ways to reduce their tax liabilities and maximize savings…

2 months ago

Employment Tax Mistakes That Trigger IRS Penalties

Employment taxes are a critical part of a business's tax obligations. When employers fail to properly calculate, report, or remit…

2 months ago

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