- Published: Friday, 10 February 2012 19:08
As tax time draws near, we are all scrambling to get our tax returns together to file with the IRS. Some things to keep in mind when filing are specifically related to what will help reduce your taxes are your other deductions found on the first page of your Corporate 1120S return, if you are elected as an S Corporation. These other deductions come from your expenses, and, if you have a loss, will reduce your gross income on your 1040 form. So take a look at this area more closely when filing.