What kind of return does an LLC file?
- David Greene
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An LLC can file its taxes in one of two ways. When the LLC is formed, the members choose how the LLC is to be taxed. It can be taxed either as an S-Corporation or as a Partnership. In the…
Are small business entities being audited more frequently by the IRS?
- David Greene
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It is still true that an S-corporation or partnership is less likely to be audited than a sole proprietorship. However, the IRS has recently increased pass-through entity audits and decreased audits of large C corporations. From 2014 to 2015 S-corporation…
What are common mistakes made in S-Corporation tax returns?
- David Greene
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Although many Form 1120 S-Corporation tax returns are prepared by paid tax preparers, many also run into audit trouble. Many preparers make mistakes from time to time for various reasons. In fact the IRS just released a study that found…