Services

Corporate Tax ReturnsLess
Corporate Tax Returns

1040


If you are a LLC or you hired yourself as an employee of your corporation and gave yourself a salary, that personal income must be listed on your 1040. The 1040 is your personal income tax return. Some corporations are considered "pass-through" entities in which profit and loss "pass through" the business and to the member or owner of the company. The member or owners of the company are then required to list the income, profit and losses on their personal income tax return.


Schedule C

Schedule C lists deductions, dividends and any profit or losses the business incurred. Schedule C usually allows you to list expenses that were required to run your business. For example, the mileage to and from business meetings and lunches can be written off as an expense. You need an employer identification number for your schedule C for your corporation, which you should have received from the IRS. Schedule C is not a stand-alone document and is usually accompanied by your 1040 or 1120.


Form 1120

Form 1120 if your annual corporate tax return. Form 1120 also includes Schedule C. Form 1140 requires basic information about the corporation, such as the employer Identification number, a list of any deductions and compensation to your officers or board of directors. Form 1120 also includes lists of other schedules that may or may not apply to your business. For example, Schedule A includes the cost of goods sold, and Schedule K lists information about your corporation, such as your accounting and business type.


Form 1065

If you're in a partnership; for example, a limited liability partnership, you may need to fill out Form 1065 for the related income. Partnerships, according to the IRS, do not pay taxes on their income. However, the profit and loss passes through to the partners' individual tax returns.


Other Forms and Taxes

If you have employees or independent contractors, you need other forms to submit as well. For example, W-2 and W-3 forms must be sent to the Social Security Administration if you withheld Social Security and Medicare from your employees. You must electronically file IRS Form 944 for federal unemployment taxes as well. For each independent contractor you pay more than $600 for services or work completed, you must include Form 1099-misc. If you paid more than $10 in royalties or broker payments you may need to issue Form 1099-misc, also. Some forms have different deadlines. Speak with your attorney or certified public accountant to determine the dates and deadlines for paying various corporate taxes.

1040


If you are a LLC or you hired yourself as an employee of your corporation and gave yourself a salary, that personal income must be listed on your 1040. The 1040 is your personal income tax return. Some corporations are considered "pass-through" entities in which profit and loss "pass through" the business and to the member or owner of the company. The member or owners of the company are then required to list the income, profit and losses on their personal income tax return.


Schedule C

Schedule C lists deductions, dividends and any profit or losses the business incurred. Schedule C usually allows you to list expenses that were required to run your business. For example, the mileage to and from business meetings and lunches can be written off as an expense. You need an employer identification number for your schedule C for your corporation, which you should have received from the IRS. Schedule C is not a stand-alone document and is usually accompanied by your 1040 or 1120.


Form 1120

Form 1120 if your annual corporate tax return. Form 1120 also includes Schedule C. Form 1140 requires basic information about the corporation, such as the employer Identification number, a list of any deductions and compensation to your officers or board of directors. Form 1120 also includes lists of other schedules that may or may not apply to your business. For example, Schedule A includes the cost of goods sold, and Schedule K lists information about your corporation, such as your accounting and business type.


Form 1065

If you're in a partnership; for example, a limited liability partnership, you may need to fill out Form 1065 for the related income. Partnerships, according to the IRS, do not pay taxes on their income. However, the profit and loss passes through to the partners' individual tax returns.


Other Forms and Taxes

If you have employees or independent contractors, you need other forms to submit as well. For example, W-2 and W-3 forms must be sent to the Social Security Administration if you withheld Social Security and Medicare from your employees. You must electronically file IRS Form 944 for federal unemployment taxes as well. For each independent contractor you pay more than $600 for services or work completed, you must include Form 1099-misc. If you paid more than $10 in royalties or broker payments you may need to issue Form 1099-misc, also. Some forms have different deadlines. Speak with your attorney or certified public accountant to determine the dates and deadlines for paying various corporate taxes.

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BookkeepingLess
Bookkeeping

Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business.[1] Transactions include purchases, sales, receipts, and payments by an individual person or an organization/corporation. There are several standard methods of bookkeeping, such as the single-entry bookkeeping system and the double-entry bookkeeping system, but, while they may be thought of as "real" bookkeeping, any process that involves the recording of financial transactions is a bookkeeping process.

Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business.[1] Transactions include purchases, sales, receipts, and payments by an individual person or an organization/corporation. There are several standard methods of bookkeeping, such as the single-entry bookkeeping system and the double-entry bookkeeping system, but, while they may be thought of as "real" bookkeeping, any process that involves the recording of financial transactions is a bookkeeping process.

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Individual Tax ReturnsLess
Individual Tax Returns

If you already filed your federal tax return and are due a refund, you have several options to check on your refund.


When to Check Refund Status If you e-file, you can get refund information 72 hours after the IRS acknowledges receipt of your return. If you file a paper return, refund information will generally be available three to four weeks after mailing your return.

If you already filed your federal tax return and are due a refund, you have several options to check on your refund.


When to Check Refund Status If you e-file, you can get refund information 72 hours after the IRS acknowledges receipt of your return. If you file a paper return, refund information will generally be available three to four weeks after mailing your return.

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PayrollLess
Payroll

A payroll is a company's list of its employees, but the term is commonly used to refer to:


The total amount of money that a company pays to its employees

a company's records of its employees' salaries and wages, bonuses, and withheld taxes

the company's department that calculates and pays these.

Payroll in the sense of "money paid to employees" plays a major role in a company for several reasons.


From an accounting perspective, payroll is crucial because payroll and payroll taxes considerably affect the net income of most companies and because they are subject to laws and regulations (e.g. in the US, payroll is subject to federal, state, and local regulations).

A payroll is a company's list of its employees, but the term is commonly used to refer to:


The total amount of money that a company pays to its employees

a company's records of its employees' salaries and wages, bonuses, and withheld taxes

the company's department that calculates and pays these.

Payroll in the sense of "money paid to employees" plays a major role in a company for several reasons.


From an accounting perspective, payroll is crucial because payroll and payroll taxes considerably affect the net income of most companies and because they are subject to laws and regulations (e.g. in the US, payroll is subject to federal, state, and local regulations).

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Omni Tax Service
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Omni Tax Service

2711 N. Andrews Ave.,

Wilton Manors, FL 33311

Phone. 954-615-0800

Email. info@omnitax.net

2711 N. Andrews Ave.,

Wilton Manors, FL 33311

Phone. 954-615-0800

Email. info@omnitax.net

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