Counting Down to Tax Day: Business Tax Completion Checklist

Be sure you are using the correct return for your type of business:

• If you are a sole proprietor or a single-member LLC, you will use Schedule C of your personal tax return (1040) to report your business taxes.
  
• If you are a partnership or a multi-member LLC, you will file a Partnership return (1065) and report partner/member share of profits/losses on Schedule K-1.
  
• If you are a Sub-chapter S Corporation, you will file corporate taxes on Form 1120-S.

• First, Have You Used the Correct Tax Return for Your Business?
• Have You Checked for Last-minute Tax Changes?
• Are You Taking All Possible Deductions and Credits?
• Do You Know How to File Online?
• Finally, Check Your Return for Errors