Small business owners can be overwhelmed by the many types of tax forms that should be submitted and when. It is typically based on the business’ operational conditions such as business structure (1065 vs 1120), employee classification (1099 vs W-2), unemployment reporting (940), and living costs (8829), to name a few. Things to consider when filing are deductions, exemptions, and credits applicable to the business. Due dates are very crucial when filing and this article contains important information about the various tax forms and deadlines.
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