What are some of the special rules about reporting losses on Schedule C?
- David Greene
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Schedule C is the most audited of all the tax forms! In order to claim losses based on Schedule C a taxpayer must first prove that the business activity has a clear profit objective. Factors to consider are whether the…
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…