If you have a side business that is still young and generate a small revenue, it is a good idea you do a lot of your own administrative work at the beginning. By the time your business grows and you need to hire employees or outsource some tasks, you would know how to run your business from the ground up and all aspect of it. You would have manuals available to train and help your employees perform day to day tasks in your business freeing most of your time. Your business would continue to run even if you travel.
Below are some forms you might need to file some of your business taxes.
I uploaded some IRS instructions to the forms to help you file your forms. I read and highlighted some of the instructions to bring your attention to some key information. However, if you have time I would suggest you read all the instructions that is related to a form.
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2019 Federal Tax Forms and Instructions
Instructions for Form 1065-2019
Form 1065 and Other Forms related
Form 1125A: https://www.irs.gov/forms-pubs-search?search=form+1125A
Link for 1065 and related Forms: https://www.irs.gov/forms-pubs-search?search=form+1065+
· Form 1065 U.S. Return of Partnership Income
· Instructions for Form 1065, U.S. Return of Partnership Income
· Schedule B-1 Information on Partners Owning 50% or More of the Partnership
· Schedule C (Form 1065) is used to provide answers to additional questions for filers of Form 1065 Schedule M-3.
· Instructions for Schedule C (Form 1065), Additional Information for Schedule M-3 Filers
· Schedule K-1: Partner’s Share of Income, Deductions, Credits, etc.
· Instructions for Schedule K-1 (Form 1065), Partner’s Share of Income, Deductions, Credits, etc.
· Capital Gains and Losses
Principal Business Activity Code
Codes for Principal Business Activity
Most documents that might help file form 1120S U.S. Income Tax Return for an S Corporation:
Form 1120S U.S. Income Tax Return for an S Corporation: Form1120S-2019
Instruction for Form 1120S: Instructions Form1120S-2019
At-Risk Rules Limitaion for Form 1120S on pages 7 and 8 of Instruction for Form 1120S: 1120-S-2019-Instructions1
https://www.irs.gov/forms-pubs-search?search=1120s+instructions
Schedule K-1 (Form 1120S): Form1120S SchK-1-2019
Compensation of Officers: Form1125-E-2019
Instructions Form 1125-E: Instructions Form1125-E-2019
The Worksheet for Figuring a Shareholder’s Stock and Debt Basis Part I- Shareholder Stock Basis can be found in the instructions for Schedule K-1 (Form 1120S) page 4
Part III-Allowable Loss and Deduction Items is on page 7 of Instructions for Schedule K-1 (Form 1120S)
Form 1125 A-Cost of Goods Sold: https://www.irs.gov/pub/irs-pdf/f1125a.pdf
Most documents that might help file 1065 U.S. Return of Partnership Income:
Form 1065 U.S. Return of Partnership Income: Form1065-2019
Schedule K-1 (Form 1065): Form1065 Sch K-1-2019
Instructions for Schedule K-1 (Form 1065): 2019 Instructions1065 SchK-1
The Worksheet for Adjusting the Basis of a Partner’s Interest in the Partnership can be found in the Partner’s Instructions for Schedule K-1 (Form 1065) page 2
Instruction to 2019 From 940_FUTA
Instruction to 2019 Form 944_FICA
2019 Form 940-Employer’s Annual Federal Unemployment Tax Return
2019 Form 944-Employer’s Annual Federal Tax Return
Employer W-2 Filling with Social Security Online: https://www.ssa.gov/employer/