TaxConnections


 

Archive for S-Corp

CRA Forms T1134 and T1135 Often Missed by Canadian U.S. Real Estate Investors

The T1134 and T1135 are a sample of Canadian foreign information returns like the U.S. 8938, 5471 or 8865.

A number of Canadians are investing in the U.S. real estate market with a U.S. limited partnership whose limited partners are solely Canadian residents and the general partner is a U.S. C corporation whose shareholders are also Canadian residents.

For those who want limited liability protection, this type of Read more

September 2015 Business Tax Due Dates

September 15 –  Corporations

File a 2014 calendar year income tax return (Form 1120 or 1120-A) and pay any tax, interest, and penalties due. This due date applies only if you timely requested an automatic 6-month extension.

September 15 – S Corporations

File a 2014 calendar year income tax return (Form 1120S) and pay any tax due. This due date applies only if you requested an automatic 6-month extension.

September 15 – Corporations Read more

Partnership, S-Corp and Trust Extensions End September 15

If you have a calendar year 2014 partnership, S-corporation, or trust return on extension, don’t forget the extension for filing those returns ends on September 15, 2015.

Pass-through entities such as Partnerships, S-corporations, and fiduciaries (trusts, estates) pass their income, deductions, credits, etc., through to their investors, partners, or beneficiaries, who in turn report the various items on their individual tax returns. Partnerships file Form 1065, S-corps file Form 1120-S, and Fiduciaries file Form 1041, with each partner, shareholder, or beneficiary receiving a Schedule K-1 from the entity that shows their share of the reportable items.

If all of the aforementioned entities could obtain an automatic extension to file their returns Read more

TaxConnections