Business Taxes – 1120S, 1120, 1065

Business Pass-Through Entity Tax The term "Pass-Through" is confusing. What it means is that most small businesses entities don't pay income taxes. Any profit or loss is reported on the owner's personal 1040 tax returns. This includes Limited Liability Companies (LLCs), S Corporations, Partnerships, and Sole Proprietors. Instead, income generated by the business is reported [...]