![]() ![]() Don't do your taxes™ – Let us do them for you. If you need tax help, Rocket Lawyer can now match you with a tax pro for affordable and convenient tax filing services. Talk to your tax professional, if you have questions about which form to file. And if the LLC is classified as a C-Corporation you will use a 1120, U.S.If the LLC is classified as an S-Corporation you will use a 1120-S, U.S.Individual Income Tax Return and Schedule C (Form 1040), Profit or Loss from Business. If the LLC is classified as part of the business owner's own tax return you will use a 1040, U.S.If the LLC is classified as a partnership you will use a 1065, U.S.S-Corporation Income Tax Returnĭepending on elections made by the LLC and the number of members, the IRS will treat an LLC as either a C-Corporation, S-Corporation, partnership, or as part of the LLC's owner's tax return. Schedule C (Form 1040), Profit or Loss from Business.The forms you might need for your small business vary based on the structure of your business. Selecting the right form or forms for your business can be confusing. If your tax professional spots a claim or deduction you did not make in the previous year that you likely qualified for based on your current taxes, they can help you amend a prior year’s taxes to get that money back. It can also lead to more money in your pocket. It can help ensure you have not forgotten to mention or provide information about a credit or deduction you previously made. These can often be helpful for tax professionals to see when preparing more complex returns. It can also be helpful to locate a copy of your completed tax return from the previous year. All expenses, including insurance, loan interest, office supplies, and professional fees.Business checking and savings account interest.Sales records, including returns and allowances.Tax forms sent or received, such as W-2, 1098, or 1099 forms.It might be a good idea to ask your tax professional what additional documents are necessary, but in the meantime, you can start by collecting your documentation that shows the following: ☐ Gather needed documentsīefore filling out any tax form to report your business income, gather all your records that report your business earnings and expenses. If you have a business that runs or is taxed as an S-Corporation or Partnership, the usual deadline for tax filings is March 15th. The IRS has also provided an extension for tax filers in certain areas impacted by natural disasters and severe weather. Since our traditional Tax Day, April 15th falls on a Saturday and is followed by a local holiday in Washington DC, you'll have a few extra days to file your taxes this year. If your business runs or is taxed as a sole proprietorship, single-member LLC or C-Corporation, the tax deadline for filing your 2022 tax return is April 18, 2023. Depending on your business structure, your tax due dates will vary. ![]()
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