Businesses and professional practices are formed under various legal entities including S corporation, partnership, liability partnership, limited liability corporation, and C corporation. ![]() Similar to the personal tax returns, in order to develop an understanding of the business’ reported income and trends, generally three to five years of the income tax returns should be obtained. Thus, the goal of this Practice Point is to provide you with an overview of the following business tax returns, so that you can (a) understand the forms (b) identify pertinent financial information and (c) enable you to ask targeted questions and prepare a proper, detailed information request: Form 1120S, Form 1065, and Form 1120. This article is continuation of my June 2017 article “ Best Practices for Reading Personal Tax Returns.” As with personal tax returns, business tax returns can be challenging for an attorney to understand and navigate in the context of family court litigation.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |