Hi guys, Welcome to the Advanced Video Search Engine, and you are watching How to Complete IRS Form 1120S and K-1 with no Revenue for your LLC Taxed as an S Corporation. That video is uploaded by Liberman Consulting L.L.C. at 2022-02-17T06:28:59-08:00. We are promoting this video only for entertainment and educational purpose only. So, I hope you like & enjoy it. [t6EodSYZGmo]
| Name | How to Complete IRS Form 1120S and K-1 with no Revenue for your LLC Taxed as an S Corporation |
| Video Uploader | Video From Liberman Consulting L.L.C. |
| Upload Date | This Video Uploaded At 17-02-2022 14:28:59 |
| Video Discription | If you have not sold any goods during the year, you should still file your business tax return. The gross receipts line would remain blank. Depreciation Spreadsheet-DSS22821: https://liberdownload.com/downloads/depreciation-summary-spreadsheet-dss22821/ “https://ninasoap.com/membership-join/ (We welcome you to join us. Email List) “Our contents are about different ways to save money, different ways to make money to reach your financial independence where you don’t worry about money.” care@ninasoap.com (contact info for any questions you may have) https://ninasoap.com (blog), https://liberdownload.com (digital products), https://ninassoap.com (natural products), https://liberlabel.com (custom apparel), https://liberoutlet.com (resale store), https://www.youtube.com/c/LibermanConsultingLLC (YouTube Channel)”. How to complete form 1125-A Cost of goods Sold? You would complete Form 1125-A cost of goods sold information including Cost of inventory at the beginning of the year. The first year in business, the beginning inventory would be 0. Therefore, you line that line blank. Cost of Purchases or raw materials during the year Cost of goods sold Cost of inventory at the end of the year How do you treat goods taken out of inventory for personal use? If you are an LLC or S corporation, you would show the cost of goods pulled out of inventory for personal use on Schedule K line--- as distribution to partners and on Schedule K-1 as well for the partners that used them. Reduce purchases by the cost of goods used by shareholders. Read instructions at the bottom of form 1125-A for details needed to understand the entry lines. How to complete IRS Form 1120S? If you have an S corporation or LLC taxed as an S Corporation, you would file IRS Form 1120S for your business. Line 14 Depreciation. Do not include Section 179 on this line. It would go on Schedule K and Schedule K-1. If you placed assets in service during the tax year you are filing for, and would depreciate them, you need to complete Form 4562 Depreciation and Amortization. Full article: https://ninasoap.com/2022/02/how-to-complete-irs-form-1120s-and-k-1-with-no-revenue-for-your-llc-taxed-as-an-s-corporation/ #HowtoCompleteForm1120SSCorpTaxReturn Playlist: How to Complete Form 1120S S Corp Tax Return Videos: 1-How to complete 2021 IRS Form 1120S and Schedule K-1 For your LLC taxed as an S Corporation: https://youtu.be/8eyNiyPOwUk 2-How to Complete 2021 IRS Form 1120S for your LLC Taxed as an S Corporation: https://youtu.be/6XJalMGjzFQ 3-How to Complete Schedule K-1 Form 1120S for 2021: https://youtu.be/s4yP5JzjTIY How to Complete IRS Form 1120S and K-1 with no Revenue for your LLC Taxed as an S Corporation: https://youtu.be/t6EodSYZGmo @LibermanConsultingLLC Disclaimer: “I am not an attorney to practice law. I am not allowed to draft legal documents, give advice on legal matters including immigration, or charge a fee for these activities.” Our contents are informative and based on our knowledge and experience. Use them at your own discretion. Affiliate links Disclaimer: Our Videos contain affiliate links. When you click on them and make a purchase, we will receive a commission. We thank you very much for your support! Free Download Check the Free Download section in the side bar of our blog for budget spreadsheet, budget planner PDF, tax forms, motivational quotes, checklists…. No need to subscribe or login to download them. https://ninasoap.com/free-downloads/ Our Objectives At Nina’s Soap (Liberman Consulting L.L.C.), you would find information to live a quality life within budget and increase your net worth. Topics covered include personal finance, investment, business management, cooking from scratch and growing some vegetables and fruit to save money and eat healthy. Welcome to Our Financial Success Group! To learn more tips on how to live below your income without sacrificing the quality of your life and start building wealth, please join our community for FREE by subscribing here: https://ninasoap.com/membership-join/ Welcome to Nina’s Soap Online Stores https://ninassoap.com/ Natural Soap Bars -- no additives, no fragrance. Cooking Towels and Cloth Napkins made from natural fibers. https://liberlabel.com Custom design apparel, and stationery with motivational quotes to lift your mood every day. https://liberoutlet.com Resale of Business supplies, office supplies, toys, household products, books, electronics and more. https://liberdownload.com Budget and Monthly Expense Tracker, Checklist to create your online store, Inventory and Sales Excel Template…tools you need to manage your money, start, and run your business successfully, and reach your financial success. Affiliate Links: Bluehost: We use Bluehost to host our websites and like their service. They take the time over the phone to help solve website issues. https://www.bluehost.com/track/ninasoap/ #LibermanConsultingL.L.C. t6EodSYZGmo |
| Category | Howto & Style |
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