LLC Partnership Tax Basis & Basics: Form 1065, Sch K-1, Capital Account, Inside Basis, Outside Basis

This video covers the basics of LLC/Partnership Taxes for form 1065 and the Schedule K-1. I start out explaining the tax forms and how to do partnership accounting records (and show my spreadsheet template). I connect the dots to show simplify understanding the Capital Account (on schedule K-1), Tax Basis, and Outside Basis & Inside Basis, including what the business needs to track and what members need to track on their own.

Download the free business spreadsheet template (for basic accounting, quarterly taxes & end of year tax write-offs), yes for FREE (with a free e-course) here: https://www.amandarussell.mba/gettheb...

Check out the SMALL BUSINESS SCHOOL (which is now individual courses you get buy based on the challenge/topic that you need help with): https://www.bizschool.coach/courses


Other videos that you might like....

HOW DO I PAY MYSELF IN MY BUSINESS [PART 1]:    • How To Pay Myself In My Business (LLC...  
4 TAX SAVINGS STRATEGIES FOR OWNER PAY [HOW DO I PAY MYSELF IN MY BUSINESS PART 2]    • 4 TAX SAVING STRATEGIES--How To Pay Y...  
HOW TO OVERCOME PROCRASTINATION    • Procrastination In Business & Money! ...  
THE EASIEST AND CHEAPEST WAY TO TRACK YOUR ACCOUNTING RECORDS (SOFTWARE VS. APPS VS. BOOKKEEPERS):    • Best Way To DIY Your Accounting Recor...  
S-CORPORATION CALCULATOR — When & How the S-corp Saves You Taxes!    • S-Corporation Tax Calculator [Spreads...  


The Balance Sheet Explained:    • Balance Sheet Explained in Simple Ter...  
What is a Holding Company?    • What is a Holding Company? - Holding ...  
Does the LLC save taxes?    • Tax Benefits of LLC vs. Sole Propriet...  
Sole Proprietor vs. LLC vs. S-corp:    • Sole Proprietor vs. LLC vs. S-corp: W...  
How Businesses are Taxed:    • How To Choose Your Business Structure...  
9 Short Steps to Create Your LLC:    • 9 Steps to Create Your LLC  


DIY Tax Video Series - File Taxes Online For Free

- Choosing free way to file for federal and state:    • Can I Really File My Taxes For Free? ...  
- STEP-BY-STEP TUTORIAL: Filing your taxes for free in any situation    • STEP-BY-STEP Tutorial: File Taxes Onl...  
- STEP-BY-STEP TUTORIAL: How To File a 1099 Online For FREE    • How To File Your Self-employed Busine...  
- STEP-BY-STEP TUTORIAL: Home Office Tax Write-off - Worksheet for tracking    • Home Office Tax Write-off -- How to T...