Jason D. Knott
Jason D. Knott
  • 664
  • 3 448 448
Texas Form 804 (Periodic Report for Limited Partnerships) - Step-by-Step Guide
Texas generally does not require its entities to file an annual report. Most companies have to file an annual franchise tax return instead.
Annual reports, however, are required for Texas limited liability partnership (LLP). Texas limited partnerships (LP) are not required to file annual reports but may be required to file Form 804 periodic reports once every 4 years. Form 804 and the requisite filing fee must be paid in order to keep the entity in good standing. Failure to file or pay the fees may result in termination of the entity.
For a larger database of tutorials, please visit our website and search for your question:
knottlearning.com/
DISCLAIMER: The information provided in this video may contain information about tax, financial, and legal topics. Such materials are for informational purposes only and may not reflect the most current developments. These informational materials are not intended and should not be taken as tax, financial, or legal advice. You should contact an advisor to discuss your specific facts and circumstances. Self-help services may not be permitted in all states or jurisdictions. The use of these materials does not create an attorney-client or confidential relationship. This video does not include information about every topic or issue related to these informational materials.
#Texas #LimitedPartnership #LP
Переглядів: 217

Відео

Texas Sales Tax Return (Form 01-114) | Step-by-Step Example
Переглядів 3602 місяці тому
Texas sales taxes are assessed on most products and services. Businesses must collect sales taxes on taxable sales, file sales and use tax returns, and remit the taxes to the Texas Comptroller. Businesses are encouraged to file returns and pay taxes electronically using their online system. In some cases, the business can file a paper return. The Texas State sales tax rate is 6.25% on taxable s...
IRS Form W-7 (ITIN Application) - Form 1040-NR with Schedule C (Profit & Loss From Business)
Переглядів 5122 місяці тому
The IRS Form W-7 is submitted by nonresident individuals to apply for a U.S. Individual Taxpayer Identification Number (ITIN). An ITIN is required if a nonresident needs to file a federal income tax return. In this example, we look at a nonresident who opens a single-member disregarded LLC in Florida. The Florida LLC operates a local furniture store, which means the nonresident is engaged in a ...
Georgia Form G-7 (Quarterly Return) - GA State Withholding Taxes from Wages
Переглядів 2102 місяці тому
Georgia employers are generally required to withhold GA state income taxes on compensation paid to employees. Once the taxes are withheld, they are submitted to the Georgia Department of Revenue. Employers are encouraged to submit the filings and taxes electronically. The timing of payments will vary from employer to employer. For small employers with very little state withholding tax, taxes ca...
Form SS-5 (Application for Social Security Card) - Original Application for a Child
Переглядів 1892 місяці тому
The Social Security Administration (SSA) Form SS-5 is used to submit an original application for a Social Security Number (SSN) and SSN Card. It can also be filed for a replacement card or to change/correct information. In this example, we look at two parents who must submit the original application for their newborn child. It's important that the application is submitted as soon as possible be...
IRS Form 8582 (Passive Activity Loss) - Special Allowance for Rental Real Estate Losses
Переглядів 5982 місяці тому
Rental real estate activities are "per se" passive activities. If a taxpayer actively participates in the rental real estate activity, and the activity operates at a net taxable loss for the period, the taxpayer may be able to claim the Special Allowance for Rental Real Estate activities and deduct up to $25,000 of those passive losses against nonpassive income. In this example, we have a taxpa...
Alabama A4 Employee Withholding Certificate - How to Prepare for Single Filer
Переглядів 1782 місяці тому
Employees living and working in Alabama must provide their employers the Alabama A4 Employee Tax Withholding Exemption Certificate and the Federal Form W-4 withholding certificates. The A4 withholding certificate establishes how much Alabama state income tax must be withheld from your state wages based on your filing status, number of dependents, and request to have any additional state tax wit...
IRS Form 941-X (Amended Payroll Tax Return) - Step-by-Step Example
Переглядів 3692 місяці тому
The Form 941-X is filed to correct errors on previously filed Form 941 quarterly payroll tax returns. Form 941-X can be used for either underreported or overreported tax amounts. In this example, we have a single shareholder S corporation that needs to amend its payroll return because it overstated the wages for the quarter. For a larger database of tutorials, please visit our website and searc...
IRS Form 1120-X (Amended Corporate Tax Return) - Step-by-Step Guide
Переглядів 3882 місяці тому
Form 1120-X is filed by a corporation to amend a previously filed Form 1120 corporate income tax return. Corporate returns can also be amended using Form 1139 if the changes relate to NOL carryback, capital loss carryback, unused general business credits, and other adjustments under Section 1341(b)(1). For a larger database of tutorials, please visit our website and search for your question: kn...
IRS Form 941 - S Corporation Example for 4th Quarter
Переглядів 3902 місяці тому
This Step-by-Step instruction on completing Form 941 (Quarterly Payroll Tax Return) for an S corporation with one shareholder employee. Employers file Form 941 to report company payroll, which includes wages, social security taxes, Medicare taxes, federal income tax withholding, and any available payroll tax credits and payments. In this example, we look at a Form 941 filing for the 4th quarter...
Georgia Sales Tax Return - Form ST-3 (Sales and Use Tax Return) Step-by-Step Example
Переглядів 5612 місяці тому
Georgia requires businesses to collect sales taxes on taxable sales. Georgia has a statewide tax rate of 4%, and most counties will have a local sales tax rate ranging between 3-5%. The sales tax return (Form ST-3) can be submitted and paid electronically or, in some cases, paper filed for smaller taxpayers. In this example, we look at a new food truck operating in Georgia that needs to collect...
Arizona Form A-4 Employee Withholding Certificate | Step-by-Step Guide for AZ Residents
Переглядів 3132 місяці тому
Arizona charges a flat state income tax of 2.5% on AZ taxable income. Employees living and working in AZ are subject to state income tax withholding on their gross taxable wages. AZ Form A-4 allows the employee to select various withholding tax rates. It is recommended that an employee estimate their Arizona state income tax liability and choose the appropriate withholding percentage to match t...
IRS Form 941 - S Corporation Example for 3rd Quarter
Переглядів 4262 місяці тому
This Step-by-Step instruction on completing Form 941 (Quarterly Payroll Tax Return) for an S corporation with one shareholder employee. Employers file Form 941 to report company payroll, which includes wages, social security taxes, Medicare taxes, federal income tax withholding, and any available payroll tax credits and payments. In this example, we look at a Form 941 filing for the third quart...
IRS Form 1040-X | How to File an Amended Tax Return - Change of Filing Status Example
Переглядів 1 тис.2 місяці тому
For additional Form 1040-X Tutorials: Form 1040-X for Child Tax Credit: ua-cam.com/video/rXKtfRn7740/v-deo.html Form 1040-X for IRA Contributions: ua-cam.com/video/pEu0aZw72uk/v-deo.html Form 1040-X for Capital Gains: ua-cam.com/video/FU3sto0NNAg/v-deo.html Form 1040-X for Foreign Tax Credits: ua-cam.com/video/Ki7rYZL4tYQ/v-deo.html Form 1040-X for Passive Activity Loss: ua-cam.com/video/5gBZv5...
IRS Form 944 (Annual Payroll Tax Return) - Sample Return with Step-by-Step Instructions
Переглядів 2682 місяці тому
IRS Form 944 is an annual federal payroll tax return used to report employee wages, federal income tax withheld, and social security and Medicare taxes. Form 944 is filed annually, while Form 941 payroll returns are filed quarterly. Form 944 is generally only permitted if you expect your annual federal payroll tax liability to be less than $1,000. To file Form 944, the IRS must notify you of yo...
Form 1040 Schedule A (Itemized Deductions) - Mortgage Interest Deduction and Limitations
Переглядів 7702 місяці тому
Form 1040 Schedule A (Itemized Deductions) - Mortgage Interest Deduction and Limitations
IRS Form 1040-X | How to File Amended Form 1040 - Passive Activity Losses and Form 8582
Переглядів 3993 місяці тому
IRS Form 1040-X | How to File Amended Form 1040 - Passive Activity Losses and Form 8582
How to File BOI Report with FinCEN - Sample Filing for S Corporation
Переглядів 6943 місяці тому
How to File BOI Report with FinCEN - Sample Filing for S Corporation
IRS Form 8582 (Passive Activity Loss) - How to Record Publicly Traded Partnership (PTP) Investments
Переглядів 6903 місяці тому
IRS Form 8582 (Passive Activity Loss) - How to Record Publicly Traded Partnership (PTP) Investments
IRS Form 3520 - Reporting Gifts from Foreign Corporations
Переглядів 4833 місяці тому
IRS Form 3520 - Reporting Gifts from Foreign Corporations
IRS Schedule A (Itemized Deductions) - Deducting Real Property Taxes
Переглядів 4333 місяці тому
IRS Schedule A (Itemized Deductions) - Deducting Real Property Taxes
Over $1 Billion of Tax Refunds Left Unclaimed from 2020 - File Your Tax Returns ASAP!
Переглядів 2083 місяці тому
Over $1 Billion of Tax Refunds Left Unclaimed from 2020 - File Your Tax Returns ASAP!
IRS Form 8582 (Passive Activity Loss) - Sale of Passive Activities with Suspended Losses
Переглядів 5113 місяці тому
IRS Form 8582 (Passive Activity Loss) - Sale of Passive Activities with Suspended Losses
IRS Form 8582 (Passive Activity Loss) - Special Allowance Limits for Rental Real Estate
Переглядів 1,1 тис.3 місяці тому
IRS Form 8582 (Passive Activity Loss) - Special Allowance Limits for Rental Real Estate
IRS Form 3520 - Gifts from Non-U.S. Individuals
Переглядів 1,7 тис.3 місяці тому
IRS Form 3520 - Gifts from Non-U.S. Individuals
IRS Form 709 (Gift Tax Return) - Tutorial on Prior Period Gift Reconciliations
Переглядів 1,2 тис.3 місяці тому
IRS Form 709 (Gift Tax Return) - Tutorial on Prior Period Gift Reconciliations
IRS Form 709 (Gift Tax Return) - How to Split Gifts for Married Couple
Переглядів 3 тис.3 місяці тому
IRS Form 709 (Gift Tax Return) - How to Split Gifts for Married Couple
Form 1065 E-File Changes - No Longer Using "FOREIGNUS" for Nonresident Partners
Переглядів 4373 місяці тому
Form 1065 E-File Changes - No Longer Using "FOREIGNUS" for Nonresident Partners
IRS Form W-7 (ITIN Application) - Filing Form 1040-NR for Refund Claim 1042-S
Переглядів 7073 місяці тому
IRS Form W-7 (ITIN Application) - Filing Form 1040-NR for Refund Claim 1042-S
IRS Form 709 (Gift Tax Return) Example Reporting for Charitable Contributions - Step-by-Step Guide
Переглядів 1,6 тис.3 місяці тому
IRS Form 709 (Gift Tax Return) Example Reporting for Charitable Contributions - Step-by-Step Guide

КОМЕНТАРІ

  • @RishavJain
    @RishavJain 3 години тому

    Is there a penalty for late filing?

  • @ajbp6706
    @ajbp6706 20 годин тому

    Good information, but what happens if the first three letters are missing in another scenario?

  • @LA2JERSEY
    @LA2JERSEY 3 дні тому

    Is 8949 needed with basis? Thank you!

  • @carrie4579
    @carrie4579 3 дні тому

    Once 709 form is filed for its first year, does it mean that this type of return have to file each year in the future?

  • @user-ug2tx5ex6r
    @user-ug2tx5ex6r 3 дні тому

    I just got my grandson, Sarah my daughter died. They went back for years three years is all they did and I still don’t have a check and we need it because our car got wrecked now what? How long will it take about to lose house waiting?

  • @ladyr1708
    @ladyr1708 3 дні тому

    Thank you! This was very helpful in helping my mom fill this out.

  • @Mastercrazyhorse
    @Mastercrazyhorse 4 дні тому

    Thank you very I have useful information but I need to know is the form 8812 revised and added to the 1040 X when sent to the IRS.

    • @JasonDKnott
      @JasonDKnott 4 дні тому

      Yes! You should attach any schedules or forms that were added or revised as part of the amended return.

  • @MaahlerYT
    @MaahlerYT 4 дні тому

    Excellent video. Very informative! How to fill out 1116 and 1040 if my W-2 and 1099-Div income is being taxed by a foreign county? I am a US citizen working remote for a US employer living in a foreign county. Since all income has already been included in the 1040, what do I put in box 1b at the top of form 1116?

  • @Team8LA
    @Team8LA 4 дні тому

    How do we record the cost sagragation items on tax forms? Do we just add it to the excel then record it on 8949? Thanks!!

  • @jeannettekelbaugh3216
    @jeannettekelbaugh3216 4 дні тому

    thank you for your tutorial. Very helpful. Do you have a tutorial for shared household plans?

  • @jeannettekelbaugh3216
    @jeannettekelbaugh3216 4 дні тому

    Do you have an example if the 1095-A is shared by multiple households (i.e., child is no longer dependent on taxes, but on insurance)? or completing part IV.

  • @isma4440
    @isma4440 5 днів тому

    Thanks , it is valuable content

    • @JasonDKnott
      @JasonDKnott 5 днів тому

      Thanks! Glad to hear it was helpful.

  • @LA2JERSEY
    @LA2JERSEY 5 днів тому

    Hi Jason, can you please teach how and where to record the increase of basis? If a person remodeled a rental home, but not selling yet, how do I increase the basis and take the higher depreciation? Or depreciate it as different asset? I am confused increased basis with financial accounting. Thank you!

  • @TazioBaker
    @TazioBaker 5 днів тому

    Where can I find the Federal Supporting Statements sheets?

  • @LA2JERSEY
    @LA2JERSEY 5 днів тому

    Can you please teach how to record the home improvements like how to increase and depreciate the new basis, and exactly what forms we have to file. Thank you so much! Assumed property not sold yet.

  • @1980jmc876
    @1980jmc876 6 днів тому

    Thank you very much for this! I had this exact scenario where I moved to FL mid-year and got confused because my NY W-2 showed my full year income. I really appreciate the step by step detail on this.

  • @treasurerieta5942
    @treasurerieta5942 6 днів тому

    So for 2024 tax, can we deduct 2023's $300 federal income tax paid which is directly connected to production of the $1,000 taxable interest earned (at 1120-H's 30% rate)? Although the deduction would be 1 year behind when the income was earned.

  • @tseringlama5356
    @tseringlama5356 6 днів тому

    How long does it take after filing form 3911 to receive the refund.

  • @saikiranbeethoju
    @saikiranbeethoju 6 днів тому

    Hi Jason, please make video on 1031 like kind exchange. Thank you soo much.

  • @vashishthashivani53
    @vashishthashivani53 6 днів тому

    Can you please make a video for 4797 of C corp in detail? Like explaining all the parts and components.

  • @user-rv4un6th6u
    @user-rv4un6th6u 7 днів тому

    I Don’t think so. Wrong information ‼️‼️

  • @dickydesai7609
    @dickydesai7609 8 днів тому

    thanks for the video. Would you be able to help me fill out Form 709 for gifts I am about to make to my family. Based on on your individual advise, I would make the further decision

  • @uy4807
    @uy4807 8 днів тому

    Great video, so valuable! I have a question: as a non resident alien, why can’t I just join a relative (non resident alien as well) as a second LLC member (like give him 1%) and then provide Amazon with a W9? Won’t that help?

  • @EngineerX___
    @EngineerX___ 8 днів тому

    Can u please do a video where husband and wife gift property to there child, both own 50/50 =100%, gift splitting how to fill it out properly. 709

  • @maneeshkumar-dg6zd
    @maneeshkumar-dg6zd 8 днів тому

    how did you got 1,120,492 (EOY balance) can you explain ?

  • @Crispntoasty
    @Crispntoasty 9 днів тому

    Thank you! This was appreciated! 🧀🥪

  • @proudgardenista116
    @proudgardenista116 9 днів тому

  • @proudgardenista116
    @proudgardenista116 9 днів тому

    Thank you! These videos are gold.

  • @edogawaboy1
    @edogawaboy1 10 днів тому

    Line 1

  • @edogawaboy1
    @edogawaboy1 10 днів тому

    Hi- much easier to see and hear, than to read IRS bureaucratic talk. However, your example leaves out income tax on the $23,676 net income. So does line include income tax, or ignore?

  • @thefrenchexpedition
    @thefrenchexpedition 10 днів тому

    how do you submit this to turbo tax after you already filed?

  • @Team8LA
    @Team8LA 10 днів тому

    I also have question about different filing status for Fed and community state. Like asset allocation and married couple prefer to file separately to not mix income. Pls teach more about it? Thanks!

  • @Team8LA
    @Team8LA 10 днів тому

    How do we know if standard mileage depreciation is more beneficial? If I use Macre to begin with, can I use different method to depreciate car differently every year or not? Thanks!

  • @Csharpflat5
    @Csharpflat5 10 днів тому

    Great explanation thanks I am gifting my brother 200k over 2 years….

    • @JasonDKnott
      @JasonDKnott 10 днів тому

      Glad to hear it was helpful. Thanks for watching!

  • @alltheabovedesigns
    @alltheabovedesigns 11 днів тому

    Can you make a video with no employees

    • @JasonDKnott
      @JasonDKnott 10 днів тому

      Yes! If a company has no employees, it is still beneficial to file a "zero" return to confirm with the IRS that the company has yet to hire any employees. We will upload a video for this scenario.

  • @suathao9215
    @suathao9215 11 днів тому

    Thank you for the help!!!

    • @JasonDKnott
      @JasonDKnott 11 днів тому

      You're welcome! Glad to hear the video was helpful.

  • @StephenAgbayi
    @StephenAgbayi 11 днів тому

    Thank you for the information, was very help and informative to guide my steps.

  • @chetankumarpavuluri6807
    @chetankumarpavuluri6807 12 днів тому

    Thank you for the wonderful video, but I have 1 Question. You said that charitable deductions & Interest Income will not go in page 1 of 1065, but those were in Book of accounts (Income Statement). So while reconciliation to tax from books of accounts (M-1) (Video Time at 19:00) charitable deductions & interest income should also be included in M-1 right? Because we are not considering them in the ordinary business Income & Expense.

  • @maricarrillo79
    @maricarrillo79 12 днів тому

    Please more videos related to business tax return 1120 - construction business

  • @reneecruz2495
    @reneecruz2495 12 днів тому

    Great short and simplified tutorial. Thank you

  • @summerfield858
    @summerfield858 13 днів тому

    You saved my sanity! Thank you. Been struggling with this since the owner of the company decided we were going to do payroll manually to cut costs, and I got stuck with it. I am by no means an accountant. We kept getting notices after filing, that we were short. Every time! The instructions did not explain that excess wages were the numbers above $7000. Now, because of you, I know how to do it; thanks again. Why do they, not clearly state this in the instructions? I guess If I was an accountant I would have known this. The more employers try to cut costs, the more employees have to take on more responsibilities, and naturally, they do not pay you more for it, but they expect you to learn it quickly and deal with it.

    • @JasonDKnott
      @JasonDKnott 12 днів тому

      I'm glad to hear the video was helpful. Thanks for watching!

  • @Sophia_lazy
    @Sophia_lazy 13 днів тому

    What happen if you win a big jackpot one time and the same night you lost half of it how can you prove those losses if it was that one time only

  • @user-xs8io5pk8s
    @user-xs8io5pk8s 13 днів тому

    That was very helpful. Thank you so much for making this video

    • @JasonDKnott
      @JasonDKnott 12 днів тому

      Glad to hear it was helpful! Thanks for watching

  • @LA2JERSEY
    @LA2JERSEY 13 днів тому

    Is retrofitting expenses reported as capital improvement then depreciated like other improvement? Do we need to have an appraisal done for increased value? Thank you thank you!

  • @LA2JERSEY
    @LA2JERSEY 13 днів тому

    Hi Jason, can you please share some information about how to divide assets in community states? Also NY and CA tax more, seems more complicated... thanks!

  • @killerkett
    @killerkett 14 днів тому

    useless video

  • @ralber01000
    @ralber01000 14 днів тому

    A sincere thank you !! You saved my Father's Day. It would have taken me all day to figure out

  • @minaelisa
    @minaelisa 14 днів тому

    Hi Jason, I have been looking for all sorts of credit limit worksheets but can find one similar to yours. Can you tell me where to get them?

    • @cinnamons10
      @cinnamons10 4 дні тому

      I am having the same problem. I can't find it online.

  • @Team8LA
    @Team8LA 15 днів тому

    Thank you Jason. Can you pls teach how to applied the passive suspended loss when property is sold? Also, how is passive loss different from NOL? How to file 8582-CR?

  • @AmesAsylum
    @AmesAsylum 15 днів тому

    Does it get filled out differently if the gift is split?