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How to fill out a Form 1120 S for an S-Corporation | Tax Status [Video]

How to fill out a Form 1120 S for an S-Corporation | Tax Status

An S corporation files its tax return on Form 1120-S. Each shareholder receives a Form K-1 from the S corporation. K-1s report each shareholder’s allocation of income, losses, and other financial information from the business. The shareholder includes Form K-1 information on their individual tax return.

Watch the full video for all details.
At Fusion CPA we strive to help owners of S-Corporations follow IRS and GAAP guidelines for determining and reporting wages. Our CPAs and financial advisers offer outsourced accounting services, including bookkeeping, payroll, financial planning, and tax preparation.

Get in touch to schedule a Discovery Call with our Team- https://www.fusiontaxes.com/contact-us/

Keep reading:
https://www.fusiontaxes.com/thought-leadership/blog/everything-you-need-to-know-about-tax-for-s-corps/

https://www.fusiontaxes.com/services/taxes/

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Disclaimer: This video is not intended to be the rendering of legal, accounting, tax advice, or other professional services. Info is based on current or proposed tax rules at the time published, and older posts are not updated for tax rule changes. We expressly disclaim all liability in regard to actions taken or not taken based on the contents of this video as well as the use or interpretation of this information. Information provided on this channel is not all-inclusive and such information should not be relied upon as being all-inclusive.

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