7 Keys to Deducting it All » Prepared

Q&A: What information does a CPA need prepared, to allow them to file your small business taxes?

Sat, 09 Jul 2011 09:44:17 +0000

Question by charlemagne8410: What information does a CPA need prepared, to allow them to file your small business taxes? Best answer: Answer by JudyYour business records of the business revenue and expense, along with all the info they’ll need to … Continue reading →

Q&A: what is the average cost for having a small business taxes prepared?

Sun, 05 Jun 2011 19:16:17 +0000

Question by Deanna C: what is the average cost for having a small business taxes prepared?
Small business 6 employees, L.L.C. wondering what the average cost of having my small business taxes prepared by a professional would be

Best answer:

Answer by tro
6 employees? you have someone in house do the payroll and all or is this part of what you need done?
how are you operating, a corp, a partnership or sole proprietor?
the corp is a 1120, the partnership is 1065 and the relevant state tax forms, sole proprietor is easiest, Sch C with a 1040
plan on plenty

What do you think? Answer below!

Prepared individual taxes two weeks ago, but I need to do my small business tax now, is it ok to file seperate

Sat, 04 Jun 2011 05:51:49 +0000

Question by Javier D: Prepared individual taxes two weeks ago, but I need to do my small business tax now, is it ok to file seperate
Hello, an agent prepared my taxes two weeks ago. They dont do small business taxes. So i went and purchased turbotax home and business. Filled in my schedule C, but I needed to do my regular 1099, i guess it’s protocol. Anyhow, sales for 06 for my business was only $ 254, is this usually how filing business taxes work, a 1099 with a schedule C seperate from the regular W2 type tax for your job. Is it ok how I filed it?
Hello, an agent prepared my taxes two weeks ago. They dont do small business taxes. So i went and purchased turbotax home and business. Filled in my schedule C, but I needed to do my regular 1099, i guess it’s protocol. Anyhow, sales for 06 for my business was only $ 254, is this usually how filing business taxes work, a 1099 with a schedule C seperate from the regular W2 type tax for your job. Is it ok how I filed it?

So my agent already e filed my personal taxes. I’m going to e file my business taxes, but won’t another 1099or1040 go with it? I’m I missing something? Do I print and mail in just the Schedule C. I could go to a cpa, but I had a negative profit as it is already, I’d hate for him/her to charge me an arm and a leg for such a small income.

Best answer:

Answer by the Boss
You use a schedule C, but it’s part of your regular return. You have a 1040 and a schedule C. Your 1099 only shows your income, you don’t need to file it.

You should really do an amended return. You should have included the schedule C with your 1040. If you got a 1099 for the $ 254 then that got reported to the IRS, so they will expect that to be on your return.

LOOK UP THE PROCEDURE FOR AMENDED RETURN

(It’s part of your personal taxes. You can’t do a separate return for it).

Know better? Leave your own answer in the comments!

Prepared individual taxes two weeks ago, but I need to do my small business tax now, is it ok to file seperate

Sat, 04 Jun 2011 05:51:49 +0000

Best answer:

Answer by the Boss
You use a schedule C, but it’s part of your regular return. You have a 1040 and a schedule C. Your 1099 only shows your income, you don’t need to file it.

LOOK UP THE PROCEDURE FOR AMENDED RETURN

(It’s part of your personal taxes. You can’t do a separate return for it).

What do you think? Answer below!