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I just finished paying franchise taxes, annual report fees, and spending several hours making sure my 1120 is perfect.
I have two little minor details that I'm still confused on:
#1. When do I say my calendar/tax year ended at the top?
Officially, we're a single member LLC taxed as a C-Corporation.
We formed in December, 2018. Unofficially, our Fiscal Year End is September 30th, 2019. This would make our Federal Tax Return due on 1/15/2020.
Do I include the 4 months in between the Fiscal Year End Date and the date the Federal Tax Return is due as part of the Fiscal Year for purposes of this return?
***Hopefully, I am correct that this should be the final return.
#2. I've seen example 1120 returns where #1, #2, etc... are written in the margins on the right:
Is it necessary that I write #1 in the rightmost margin of line 26 (other deductions) to indicate my attached statement?
Would it be okay to do so with a pen (black ink)?
Is it unnecessary that I attach statements for every expense (advertising, etc...) or just where the 1120 indicates me to "attach statement?"
Any help would be greatly appreciated. Thanks in advance.
I have two little minor details that I'm still confused on:
#1. When do I say my calendar/tax year ended at the top?
Officially, we're a single member LLC taxed as a C-Corporation.
We formed in December, 2018. Unofficially, our Fiscal Year End is September 30th, 2019. This would make our Federal Tax Return due on 1/15/2020.
Do I include the 4 months in between the Fiscal Year End Date and the date the Federal Tax Return is due as part of the Fiscal Year for purposes of this return?
***Hopefully, I am correct that this should be the final return.
#2. I've seen example 1120 returns where #1, #2, etc... are written in the margins on the right:
Is it necessary that I write #1 in the rightmost margin of line 26 (other deductions) to indicate my attached statement?
Would it be okay to do so with a pen (black ink)?
Is it unnecessary that I attach statements for every expense (advertising, etc...) or just where the 1120 indicates me to "attach statement?"
Any help would be greatly appreciated. Thanks in advance.
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