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mukesh.capricorn

Question

My balance sheet is showing negative and need to be corrected for turbo tax business - balance sheet

Forum|Forum|3 years ago
March 15, 2023
2 replies
0 views

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TurboTax Online

Can you clarify, what item(s) in your balance sheet are negative?

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hope you filed an extension for the business return. they're due today. not 4/18. for partnerships or S-corps the penalty is about $200/shareholder or partner for each month, or fraction thereof, that it is late. Businesses can request first-time penalty be abatement. frankly, sometimes we can't help because the bookkeeping is so bad.

you may want to spend the money on a pro to go over bookkeeping with you and advise on any other important matters that were handled incorrectly or cause tax issues.