If you claimed depreciation on your prior tax returns, you should have also filed Form 4562. This form is used to report depreciation deducted for the year, and...
You may have to recapture depreciation if you took any Sec. 179 depreciation, Sec. 168(k) bonus depreciation, or if you used MACRS for your depreciation method....
Yes, commission is an allowable business expense. Your freelancers will pick up the commission as income on their tax return. Note, if you pay any of your freel...
You are correct. The 1099-MISC is only for reporting payments related to a trade or business. See page 1 of the instructions:"Trade or business reporting only. ...
Are you saying that the S-corp has a loss carryover? If so, it should not. All income and loss items flow-through to the shareholders. They are then responsible...
