These days for each entrepreneur federal and state taxes are more complex and it is difficult for the entrepreneur to file the taxes properly. So here I am to help you in resolving the complexity of Taxes.
Not all small businesses are alike, and neither are their taxes. For S corporations, the reporting of certain taxable activity is “passed through” to the company’s shareholders. But that doesn’t mean the IRS doesn’t need a record of it. So, where is all that information captured? The answer is Form 1120-S.