Love your channel man. I’m currently in my first tax internship, and despite being very proficient in financial accounting, tax definitely posed some new challenges. I’ll be watching a lot of your videos for sure! I love how you throw in little details that encompass more of what you need to know in order to prepare the return correctly, such as the safe harbor, section 179, M-1 and M-2 adjustments, etc. It’s good to have somebody actually slow down and explain what they are!
Really great teaching of 1065, I just want to ask if you have hand out here, I mean the the material of example. I want to file it on my own after watching your video. Thanks!
I have a doubt Jason, In Schedule M-2, Line 3 Net Income (Loss) you should enter the Net income (Loss) as per Tax Return which is nothing but Schedule M-1 Line 9($36,611) but, you entered the Net Income (Loss) as per Books which is Schedule M-1, Line 1($12,209). Please clarify 😃
Thank you so much! Can you please teach a class about from LLC single member to multi members 1065 and S Corp? How do we allocate the income and liability when entities restructured in the middle of the year? Thank you thank you!
Thanks very much! My two cents: the distribution numbers you choose (see 29:13) implies that John and Jane had to took distributions in 75:25 because their ownership is 75:25. That's misleading because each partner can choose to get any arbitrary amount of distribution as long as their own capital account balance allows, and the company's financial situation allows. In next year's video, you may want to let John take out 4k and Jane take out 3.5k, just to show it's arbitrary.
Your videos are very helpful. I am confused about where to report deductions for operating costs (office supplies, postage, etc.). On what form should that information be reported?
Jason, thanks for your videos. They help a lot. One question please: I’m trying to e-file Form 1065 using TaxAct but they don’t have Schedules K-2 and K-3 yet and they don’t know when they will have them available. Do you know of other providers similar to TaxAct where Form 1065 is complete with all the schedules and could be e-filed to IRS? Thanks for your help.
Love your channel man. I’m currently in my first tax internship, and despite being very proficient in financial accounting, tax definitely posed some new challenges. I’ll be watching a lot of your videos for sure! I love how you throw in little details that encompass more of what you need to know in order to prepare the return correctly, such as the safe harbor, section 179, M-1 and M-2 adjustments, etc. It’s good to have somebody actually slow down and explain what they are!
Glad to hear they are helpful. Best of luck with that first tax internship!
@@JasonDKnott A client took 2 loans for his business. How do you manage thess 2 loans in the forms 1065 and K-1 : 30K loan for 2021 and 49K for 2022.
Jason I love the way you explained the concepts of 1065
Amazing video. Thank you for explaining 1065 in detail.
Doing a Great job !!!! This Video is Very helpful for me. I am an EA Student ... Watching from INDIA
It is not covered QBI part. Hopefully it can be found in your other videos. Great video many thanks!
Thank you for making these videos!
Glad you like them!
Really great teaching of 1065, I just want to ask if you have hand out here, I mean the the material of example. I want to file it on my own after watching your video. Thanks!
I have a doubt Jason, In Schedule M-2, Line 3 Net Income (Loss) you should enter the Net income (Loss) as per Tax Return which is nothing but Schedule M-1 Line 9($36,611) but, you entered the Net Income (Loss) as per Books which is Schedule M-1, Line 1($12,209). Please clarify 😃
Great job ... Thank you so much for your time. I have a question, let's say Resturant total sales record include . where to enter & in 1065 ?
Thank you so much! Can you please teach a class about from LLC single member to multi members 1065 and S Corp? How do we allocate the income and liability when entities restructured in the middle of the year? Thank you thank you!
Appreciate your work. Thanks a lot!!!
You're welcome!
Thank you! Very helpful
Glad it was helpful!
Thanks very much! My two cents: the distribution numbers you choose (see 29:13) implies that John and Jane had to took distributions in 75:25 because their ownership is 75:25. That's misleading because each partner can choose to get any arbitrary amount of distribution as long as their own capital account balance allows, and the company's financial situation allows. In next year's video, you may want to let John take out 4k and Jane take out 3.5k, just to show it's arbitrary.
🙏🙏🙏👍
Your videos are very helpful. I am confused about where to report deductions for operating costs (office supplies, postage, etc.). On what form should that information be reported?
Jason, thanks for your videos. They help a lot. One question please: I’m trying to e-file Form 1065 using TaxAct but they don’t have Schedules K-2 and K-3 yet and they don’t know when they will have them available. Do you know of other providers similar to TaxAct where Form 1065 is complete with all the schedules and could be e-filed to IRS? Thanks for your help.
I was told that limited partners are silent partners only, yet you put them as limited active partners. Would you clarify?
Are they two general partners? why choose 2b limited partners on page 6, analysis of net income per return instead of 2a, general partners?
Hello Jason, thank you very much for your videos!!! Do you offer private consultations?
Hello, my question is after fill out 1065 form how i can submit to IRS?
Can you please assist about Partnership Private Equity
very helpful!
I have learn from your channel
Glad the videos are helpful. Thanks for watching!