• Post category:StudyBullet-13
  • Reading time:7 mins read


Learn Everything From the Fundamentals to Being Able to Complete and File Your Business Tax Returns

What you will learn

Gain the knowledge necessary to do your own business tax returns every year.

Understand how profits and losses transfer over to your personal income

Increase general tax return knowledge necessary to minimize tax audits.

Be able to generate a K1 form.

Be able to complete form 1120s for a small business corporation

Be able to complete form 2553 election by a small business corporation

Description

This course includes video and screen shot explanations of the most common things you will encounter when preparing your business tax returns. Basic Corporate Tax Returns Mastered is organized into four sections:

  • Basic Corporate Tax Knowledge
  • Common tax forms you will need to complete like: 1120s, 1120X, K1, 2553
  • Basic Tax Preparation Example
  • Closing Commentary

What are the benefits of doing your business tax returns online?

– A lot less expensive than going through an accountant or CPA

– It will take a lot less time

– You have complete control over what you enter and how long it takes

Reduced chances of being audited

Why don’t more people do their business taxes online?

– Uncertainty

– Lack of confidence using tax preparation software


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The positives outweigh the negatives

Technology and simple online forms have made tax preparation easier than ever and much less likely to get audited than in the past. There are even online tax assistants that answer questions you have. You will save time and money doing your own business tax returns and will learn how to better run your business through tax knowledge acquired while completing your taxes. It’s easier than ever!

What software will you be using?

Turbotax Business is a simple and easy to use software. This course will teach you how to use and maximize this software.

The sooner you start the sooner you’ll finish. Get started today!

Your instructor

Joe Correa is the founder and CEO of several businesses and has successfully taught others how to successfully run a business through his courses as well as prepare business tax returns. The first and most important step of the process is to find someone who has already done this many times and can teach you the process in an easy and practical way.

Please contact me if have any questions. Remember this course has a 30 day money back guarantee so their is zero risk on your part. Don’t forget that you will receive your certificate of completion when you finish this course.

English
language

Content

Introduction

Introduction
The benefits of doing your own taxes
What documents will I need?

Basic corporate tax knowledge

What is an EIN and where can you get one?
What types of business entities exist?
What is a C Corporation?
What is an S Corporation?
What is an LLC?
What is an LLP?

Common tax forms

What is form 1120s?
What is form 1120X?
What is form K1?
What is form 2553?

Basic tax preparation

Start a New Tax Corporate Tax Return
Business Information
Business Description
Shareholder, Employee, or Contractor Compensation
Vehicle Expenses
Corp Received K1
If You Did Not Use QuickBooks
Corporate Information
Business Tax Year
IRS Business Code
Change of Ownership
Preparing W’2 and 1099’s
Qualified Disaster Area
Entities Owned
Assumptions About Your Business
Former C Corp Info
Get Organized
Shareholder Information, Distributions, Loans, and Ownership
Business Income
Business Deductions
Balance Sheet
Tax Credits, Foreign Taxes, Health Insurance, and Election Forms
Filing an Amended Return
Power of Attorney
Life Insurance
Corporate Officer Signs Tax Returns
Audit and Error Check
State Taxes
Filing Tax Returns by Mail
Reviewing and Understanding Form 1120S and Schedule K1
Printing and Saving Your Returns for Your Records
Efiling Your Tax Returns

CLOSING COMMENTARY

Closing Commentary