What Are the Common Tax Forms Entrepreneurs Should Be Aware Of?
Several IRS forms are commonly used by entrepreneurs:
Form 1040: Used by sole proprietors to report personal income and business profits. Form 941: Employers use this form to report quarterly federal payroll taxes. Form 1065: Partnerships use this form to report income, deductions, and credits. Form 1120: Corporations use this form to report income, gains, losses, deductions, and credits. Form W-9: Used to request a taxpayer identification number and certification from contractors.