Basic Corporate Tax Returns Mastered: How to File Your Taxes

Learn Everything From the Fundamentals to Being Able to Complete and File Your Business Tax Returns

4.05 (88 reviews)

Udemy

platform

English

language

Taxes

What you will learn

Gain the knowledge necessary to do your own business tax returns every year.

Understand how profits and losses transfer over to your personal income

Increase general tax return knowledge necessary to minimize tax audits.

Be able to generate a K1 form.

Be able to complete form 1120s for a small business corporation

Be able to complete form 2553 election by a small business corporation

Why take this course?

This course includes video and screen shot explanations of the most common things you will encounter when preparing your business tax returns. Basic Corporate Tax Returns Mastered is organized into four sections:

Basic Corporate Tax Knowledge
Common tax forms you will need to complete like: 1120s, 1120X, K1, 2553
Basic Tax Preparation Example
Closing Commentary

What are the benefits of doing your business tax returns online?

- A lot less expensive than going through an accountant or CPA

- It will take a lot less time

- You have complete control over what you enter and how long it takes

- Reduced chances of being audited

Why don't more people do their business taxes online?

- Uncertainty

- Lack of confidence using tax preparation software

The positives outweigh the negatives

Technology and simple online forms have made tax preparation easier than ever and much less likely to get audited than in the past. There are even online tax assistants that answer questions you have. You will save time and money doing your own business tax returns and will learn how to better run your business through tax knowledge acquired while completing your taxes. It's easier than ever!

What software will you be using?

Turbotax Business is a simple and easy to use software. This course will teach you how to use and maximize this software.

The sooner you start the sooner you'll finish. Get started today!

Your instructor

Joe Correa is the founder and CEO of several businesses and has successfully taught others how to successfully run a business through his courses as well as prepare business tax returns. The first and most important step of the process is to find someone who has already done this many times and can teach you the process in an easy and practical way.

Please contact me if have any questions. Remember this course has a 30 day money back guarantee so their is zero risk on your part. Don't forget that you will receive your certificate of completion when you finish this course.

Content

Introduction

The benefits of doing your own taxes

What documents will I need?

Basic corporate tax knowledge

What is an EIN and where can you get one?

What types of business entities exist?

What is a C Corporation?

What is an S Corporation?

What is an LLC?

What is an LLP?

Common tax forms

What is form 1120s?

What is form 1120X?

What is form K1?

What is form 2553?

Basic tax preparation

Start a New Tax Corporate Tax Return

Business Information

Business Description

Shareholder, Employee, or Contractor Compensation

Vehicle Expenses

Corp Received K1

If You Did Not Use QuickBooks

Corporate Information

Business Tax Year

IRS Business Code

Change of Ownership

Preparing W'2 and 1099's

Qualified Disaster Area

Entities Owned

Assumptions About Your Business

Former C Corp Info

Get Organized

Shareholder Information, Distributions, Loans, and Ownership

Business Income

Business Deductions

Balance Sheet

Tax Credits, Foreign Taxes, Health Insurance, and Election Forms

Filing an Amended Return

Power of Attorney

Life Insurance

Corporate Officer Signs Tax Returns

Audit and Error Check

State Taxes

Filing Tax Returns by Mail

Reviewing and Understanding Form 1120S and Schedule K1

Printing and Saving Your Returns for Your Records

Efiling Your Tax Returns

CLOSING COMMENTARY

Closing Commentary

Screenshots

Basic Corporate Tax Returns Mastered: How to File Your Taxes - Screenshot_01

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Basic Corporate Tax Returns Mastered: How to File Your Taxes - Screenshot_03

Basic Corporate Tax Returns Mastered: How to File Your Taxes - Screenshot_04

Reviews

Delta

September 19, 2022

It explained a lot of things that I wasn't 100% sure about, overall this was really good for a tax professional that have not filed Corp taxes in the past. I feel much more confident now that I have reviewed this training. Thanks

Staci

April 14, 2021

This course should NOT be called how to do your taxes it should be how to fill out turbo tax interview.

Debra

June 22, 2020

This course is explained in a way that is clear and concise. I was apprehensive about preparing corporate taxes for my client but I am confident that I can now prepare them after taking this course!

Joy

May 28, 2020

THIS COURSE TEACHES NOTHING ABOUT HOW TO FILE YOUR TAXES IT ONLY SHOWS WHAT TAXES ARE AND WHAT KIND OF COMPANY YOU MAY HAVE. IT SHOWS FORMS AND EXPLAINS WHAT THEY ARE BUT NO MODULES OR ANYTHING SHOWING HOW ..... WASTE OF MONEY AND TIME CHEAP AND NOT WORTH IT

Garry

April 14, 2020

I would've liked a little more detail on paying employees and purchasing a vehicle. This is a VERY basic overview of filing an 1120s.

Diego

November 5, 2019

nunca pense que esto fuera a ser un Turbo tax return example........ COMPLETAMENTE DESILUSIONADO de este curso, es practicamente un ROBO. Hubiese sido mejor que hubieran cobrado $400 dolares y mostrar como realmente se hacen los taxes corporativos a una empresa..... DESAGRADABLE EXPERIENCIA.

Josquine

June 21, 2019

He just basically tackles how to file it using Turbo Tax. He just reads what's written in the tax return which is too self-explanatory. I thought he will dive into details line by line. I was not expecting this at all.

LORD

May 11, 2019

it was a very good course it is a pity it is good for us market not for 8nited kingdom try to upgrade for the international market kind regards Syed boukhari

Ernesto

August 7, 2018

Very disappoint about this course. This is a ripe off, I was expecting a professional class with deep detail. Instead this course is just basic and show me how to use turbo tax. I don"t use turbo tax. I am a professional tax preparer I use a commercial professional tax software. I hope my money get refund or I will never use Udemy again, because when Udemy is selling this product it doesn't describe exactly what is selling. Good bye

Swan

May 26, 2018

There was no line-by-line explanations of the tax return or any of the tax law. The instructor just taught you how to use TurboTax.

Dorothea

March 26, 2018

Going through the process was an easy way out, because he did not show examples of income being received from the S corp. Also, it would have been better if he could have used numbers to show us at the end an example of the K-1 with the numbers.

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