LLC S & C Corp & Partnership Tax
LLC Partnership, S or C Corp Business Tax Prep Match Books?
Find out if your Partnership or Corporate tax return matches your books by taking your LLC Partnership, S or C Corp Business Tax Return & turn to the Balance Sheet, Scheule L, usually page 4 of your return.
Do Total Assets & Total Liabilities match your Bookkeeping Balance Sheet for the same period?
Look at your LLC Partnership, S or Corp Business Tax Return, Balance Sheet, Schedule M-1, usually page 5 of your return.
Does Line 1, Net Income(loss) "Per Books" on your tax return, Schedule M-1, match your Partnership or Corporate Bookkeeping Net Income(loss) for the same period?
If you answered no to either of the above questions, then either your tax return or your bookkeeping...or both...are incorrect.
Whether you have a Partnership, S Corp, or C Corp...the basic accounting & bookkeeping concepts are the same.
Your business tax prep has to match your bookkeeping!
For Complex Business Tax Prep of Partnership LLCs & S & C Corp Click the Link Below