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Tax filing update for pass-through entities - WCS - Tax Preparation in Harford County MD
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Tax filing update for pass-through entities - WCS - Tax Preparation in Harford County MD
Do you operate a business as a partnership, a limited liability company (LLC) treated as a partnership for tax purposes or an S corporation? In tax lingo, these are called “pass-through” entities because their taxable income items, tax deductions and tax credits are passed through to their owners and taken into account on the owners’ federal income tax returns. These entities generally don’t owe any federal income tax themselves. Here are some i…
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