![]() ![]() The rest of this page is written for the small business owner who is beyond the sole proprietorship or disregarded single-member LLC, and needs a partnership (Form 1065) or corporate (Forms 1120 or 1120S) tax return. Therefore a corporation tax return is filed. ![]() Rather an underlying entity, such as an LLC or C Corp, elects to be taxed as an S Corp. The Revenue Code is clear on this, yet most tax professionals and attorneys mess it up. You might already know all this stuff but there are others who don’t so please bear with us as we run through some small business tax preparation scenarios- EntityĬommunity Property State– Schedule C, Jointly Filed Individual Tax Return.Ĭommon Law State– Partnership Tax Return. Basic Types of Small Business Tax Returnsīefore we get too far along, there are some basics to get out of the way.
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