ACC 340 Lecture 2: acc 340 lecture notes (2)
Sole Prop Forms
1040 Schedule C, Schedule SE
Partnership Forms
1065 Schedule K-1, 1040 (personal return) from K-1/SE, Schedule SE
LLC form
Tax election form, can choose to be taxed as Corp, if election is not made than taxed as Sole Prop or
Partnership
S Corp forms
1120 S, Schedule K-1
C Corp form
1120
Payroll Tax Percentage
7.65%
Self-employment Tax Percentage
15.3%
Total Tax for Sole Prop =
Payroll Tax + SE Tax + Income Tax
ADJ BIST =
BIST - Payroll - Payroll Tax
Payroll Tax =
Payroll * .0765
find more resources at oneclass.com
find more resources at oneclass.com
