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What are the forms need to be filed quarterly and at the end of the year ?

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  • What are the forms need to be filed quarterly and at the end of the year ?


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Answer #1 | 19/12 2013 19:07
Hire an accountant asap, you do not want to mess your taxes up. It's a hard rut to get out of. Quarterly forms can be the 941, 940, and your state unemployment and withholding forms. W2's are for year end, they are what your "employees" use to file their own taxes. It's a summary of their wages. 1120 S - is your businesses corporation tax return, yes file this, because there's like an $1,800 penalty for not filing on time, by March 15 plus whatever else you owe them. 1040 - This is an individual return, any income/loss your business makes will flow through to your individual return.
Answer #2 | 19/12 2013 19:58
Spend some time and money to talk to a professional. Penalties for not filing what and when you are supposed to can be substantial. good luck.
Answer #3 | 20/12 2013 05:28
MD is probably quarterly, but they would have let him know what his schedule was. A lot depends on how is business is set up.
Answer #4 | 20/12 2013 09:13
if he has employees he would have applied for an EIN and he would have filed quarterly reports of those wages, also paying the withheld taxes as well as his obligations, this would apply to the federal and state and yes these would involve the forms 940, 941, W-2 and W-3, in some cases he might also need to file a 1099 and 1096 if he is incorporated he would have the EIN(and another for the state) and he would file for 1120 on his business, it he choose to be treated as an S Corporation, yes that form is 1120 S and yes, you definitely need professional help

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