Common IRS forms you should know for 2022 (Form 1040, Schedule A, B, C and D, Form 1098, Form 1099, and Form 4868)

If you are a citizen of the United States, you should have known that there are about a thousand Forms present to report the income and the expenses with the Internal Revenue Service. Understanding all of them and trying to fill them could be more of a maze work. But not all people have to use all these IRS Forms as there are designated tax Forms to be used by different entities. But it is good to...

LLC vs. S Corporation: What’s the Difference?

Both the LLC and the S corporation are two forms of business structure that the individual can choose to form while framing his business. Forming such business structures is mandatory for the success of the business. The LLC is a type of business entity whereas the S corporation is a tax classification. There are other significant differences between an LLC and an S corporation. A limited liability company and S corporation A limited liability company is a...