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Schedule C is an IRS tax form used by sole proprietors, freelancers, and self-employed individuals to report business income and expenses on their personal tax return. It helps calculate net profit or loss from a business, including deductions for expenses such as office supplies, travel, marketing, and home office costs. Filing Schedule C accurately is essential for tax compliance, reducing taxable income, and managing self-employment taxes. This guide explains who should file Schedule C, important deductions, filing requirements, and tips to simplify sole proprietorship tax reporting.

Form 7004 is an IRS tax extension form used by businesses, partnerships, corporations, and LLCs to request additional time for filing tax returns. Filing this form helps businesses avoid late filing penalties while giving extra time to organize financial records and complete accurate tax reporting. This guide explains who should file Form 7004, important filing deadlines, step-by-step instructions, and how to properly submit an extension request to stay compliant with IRS regulations and business tax requirements.

Form 1065 is an important IRS tax form used by partnerships and multi-member LLCs to report business income, deductions, gains, losses, and credits. Since partnerships are pass-through entities, profits and losses are distributed to partners through Schedule K-1 instead of being taxed at the business level. Understanding Form 1065 helps businesses stay compliant with IRS regulations, avoid penalties, and maintain accurate financial reporting. This guide covers filing requirements, deadlines, Schedule K-1 details, and essential tips for partnership tax return preparation.

Form 1120-S is an essential tax document for S corporations used to report income, deductions, credits, and shareholder distributions to the IRS. It helps businesses maintain tax compliance while ensuring profits and losses are accurately passed through to shareholders. Proper filing of Form 1120-S can simplify tax reporting, avoid penalties, and support smooth financial management for growing businesses. This guide explains the importance of Form 1120-S, filing requirements, deadlines, and the key documents needed for successful S corporation tax preparation.

This guide explains Form 1120-S and its importance for S corporations, covering income reporting, deductions, shareholder distributions, and compliance requirements. It highlights how accurate filing ensures proper tax reporting and helps businesses avoid penalties while maintaining financial transparency.

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