Hi John McGuire with the McGuire Law Firm. In this video, I'm going to talk briefly about Form 1120S. Form 1120S is the corporate income tax return for an S corporation. The S corporation will state its items of income and expenses on this tax return and come up with their net income. This net income is then passed through to the shareholders because an S corporation is a pass-through entity. These items will be reported on a K-1 for each shareholder. If you have any questions regarding this type of return or how items may be passed through to shareholders, please feel free to give our law firm a call. We work with a lot of small businesses that have elected to be taxed as an S corporation and would be more than happy to meet with you. Thank you very much.
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Video instructions and help with filling out and completing Who Form 1120 C Firms
