How to File Form 1120 for 2022 - Lawncare Business Example
For other Form 1120 tutorials, see our playlist below:
• Form 1120 (Corporate T...
How to file Form 1120 for the 2022 tax year. In this video, we cover a simple example with a corporation operating a landscaping business in Florida.
The corporation is taxed as a "C" corporation for federal tax purposes, meaning it did not make an election to be taxed as an "S" corporation by filing Form 2553.
The corporation has two owners, and the corporation is claiming the Work Opportunity Tax Credit (Form 5884) and the Federal Fuel Tax Credit (Form 4136).
For other form tutorials that might be applicable to your return, visit these videos below:
Form 851 Affiliations: • IRS Form 851 - Affilia...
Schedule L: • IRS Form 1120 Schedule...
Schedule B: • Form 1120 Schedule B -...
Schedule C: • Form 1120 Schedule C -...
Schedule G: • Form 1120 Schedule G -...
Schedule N: • Form 1120 Schedule N -...
Deferred Tax Assets & Liabilities: • How to record Deferred...
Form 5452 Nondividend Distributions: • IRS Form 5452 - How to...
Form 1122 Consolidated: • How to Complete IRS Fo...
Deducting Business Gifts: • Can Business Gifts Be ...
Do you have a personal holding company?
• Personal Holding Compa...
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DISCLAIMER: The information provided in this video may contain information about tax, financial, and legal topics. Such materials are for informational purposes only and may not reflect the most current developments. These informational materials are not intended and should not be taken as tax, financial, or legal advice. You should contact an advisor to discuss your specific facts and circumstances. Self-help services may not be permitted in all states or jurisdictions. The use of these materials does not create an attorney-client or confidential relationship. This video does not include information about every topic or issue related to these informational materials.
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Пікірлер: 17
Thank you, so helpful. Please show different business types and scenarios, million thank you!!
Thanks you very much and update my self and it is very helpful for tax
thank you
Hi Jason, a big hug & subscribed your channel for such informative stuff. I live in the UK and own SMDE LLC to operate an Amazon FBA business, but I haven't had any business yet. Where should i mention the reportable transaction (Registered agent & LLC fee etc) on F1120 & 5472? Do i need to file form 1040NR as i don't have ITIN? I'm looking forward to hearing your valuable comments.
Hi Jason, I appreciated for all of your content shown in your channel. Is there any video about startup/organization costs over the 5k tax allowed along with adjustments for M1 Sch on the 1120? Thank you in advance
@trixiamaeroa2707
Жыл бұрын
Same question
Hello, do you have any printable scenarios?
Hi, Jason. I am the sole owner of a C-Corporation. The only income that I received in 2022 was from investments. I received a 1099-Div from the investment company. Box 1a $1,306.96, box 1b $1,306.96, box 3 $5,379.12, and box 7 $66.96. My question is, where on the 1120 do I enter these numbers? Thank you!
Hi Jason, I live in Canada but I incorporated a business in Delaware in March 2022 but I have no income to claim for. And there’s only one owner which is me. Do I just need to put zeros on the specific lines?
Hi Sir, have you made any video on foreign owned llc filing form 5472 re-portable transactions????
@JasonDKnott
Жыл бұрын
Yes! We have a video posted with an example Form 5472 for a foreign owned disregarded entity. You can see the video here: kzread.info/dash/bejne/YmthppWJhMSdctY.html
What software do you use? I like your software. Unlike some transactions, it doesn’t show in my Lacerte unless I have to type in manually…
@JasonDKnott
5 ай бұрын
We use Drake Tax Software to prepare our tax returns.
@gentao2005
5 ай бұрын
@@JasonDKnott Thank you. As for the other SCorp videos of yours (excess distribution over the basis), I have a diagnosis of m2 and Sch L. How can you balance in the return without being effected in k-1?
for Line 12 for officer wages- Is this for officer that has w-2?
@JasonDKnott
Жыл бұрын
Yes! Line 12 represents the W2 wages paid to officers of the corporation.
@hopedeleon8806
Жыл бұрын
@@JasonDKnott Thank you for your input!