What is the tax implications of each of the business formslisted below:Sole proprietorship: Schedule...What...

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Accounting

What is the tax implications of each of the business formslisted below:
Sole proprietorship: Schedule C of Form 1040.
Partnership: Form 1065.
Corporation: Form 1120.
S corporation: Form 1120S.

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Sole proprietorship Schedule C of Form 1040 This would imply the person is running his own business All the expenses and income of the busienss are entered in it Also known as calculation sheet of profit and loss from business In this form all the income shown in See Answer

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In: AccountingWhat is the tax implications of each of the business formslisted below:Sole proprietorship: Schedule...What is the tax implications of each of the business formslisted below:Sole proprietorship: Schedule C of Form 1040.Partnership: Form 1065.Corporation: Form 1120.S corporation: Form 1120S.