CRO Makes it easier.
By filling out the form below, you are completing a profit and loss and you are actually creating the business income vs expenses report needed to complete your business income tax preparations.
(Schedule-C) Small Business (Self-employed)
Self-Employed Profit and Loss.
The IRS says that someone is self–employed if they meet one of these conditions: Someone who carries on a trade or business as a sole proprietor or independent contractor, A member of a partnership that carries on a trade or business, or. Someone who is otherwise in business for themselves, including part-time business …
(1120S) Small Business (S-corps)
1120S Small Business Profit and Loss.
If you own a small business that has been classified as a small corporation you must have first filed form 2553 election by small corporation.
One major advantage of an S corporation is that it provides owners limited liability protection, regardless of its tax status. Limited liability protection means that the owners’ personal assets are shielded from the claims of business creditors—whether the claims arise from contracts or litigation.
(1120) Us Corporate (C-corps) Corporations
1120 Us corporate Profit and Loss.
A C corporation (or C–corp) is a legal structure for a corporation in which the owners, or shareholders, are taxed separately from the entity. C corporations, the most prevalent of corporations, are also subject to corporate income taxation.
(1065) Us Partnership Corporations
1065 Us Partnership Profit and Loss.
IRS Form 1065 is used to declare profits, losses, deductions, and credits of a business partnership for tax filing purposes. This form is filed by LLCs, foreign partnerships with income in the U.S., and nonprofit religious organizations. Partnerships must also submit a completed Schedule K-1.