Sample Form 1120S for the 2023 Tax Year - Lawn Care and Landscaping Business

📝The video provides a comprehensive overview of a sample Form 1120S for a lawn care and landscaping business.

💼The video covers key sections of the form, including the financial statements, K1s, cost of goods sold, and depreciation schedule.

📊The video explains how to reconcile book and tax income and includes a book tax reconciliation schedule.

💡The video highlights important considerations, such as separately stated items, non-deductible expenses, and business gifts.

⏰The video provides timestamps for easy navigation to specific sections of the form, allowing viewers to quickly find the information they need.

What are the key pages of Form 1120S covered in the video?

—The video covers key pages of Form 1120S, including the financial statements, K1s, cost of goods sold, depreciation schedule, and more.

What are some important considerations mentioned in the video?

—The video highlights important considerations such as separately stated items, non-deductible expenses, and business gifts.

Does the video provide timestamps for easy navigation?

—Yes, the video provides timestamps for easy navigation to specific sections of the form, allowing viewers to quickly find the information they need.

Is there a book tax reconciliation schedule included in the video?

—Yes, the video explains how to reconcile book and tax income and includes a book tax reconciliation schedule.

What type of business is used as an example in the video?

—The video uses a lawn care and landscaping business as an example for the sample Form 1120S.

00:01Introduction to the video and the purpose of going through a sample Form 1120S for a lawn care and landscaping business in the 2023 tax year.

01:15Overview of the key pages of Form 1120S, including the financial statements, K1s, cost of goods sold, and depreciation schedule.

03:30Explanation of how to reconcile book and tax income, including a book tax reconciliation schedule.

05:00Discussion of important considerations, such as separately stated items, non-deductible expenses, and business gifts.

07:30Providing timestamps for easy navigation to specific sections of the form, allowing viewers to quickly find the information they need.