I own an insurance agency. I have a seperate checking account for insurance premium funds. When we collect a insurance premium payment from a customer, the funds are deposited into this account and then we send our agency check to the insurance company. How are these funds treated on form 1120S?
2007-02-06 10:36:32 · 1 answers · asked by jtesta46 1 in Business & Finance ➔ Taxes ➔ Other - Taxes
This is not an insurance company, it is an insurance agency.
2007-02-06 13:52:24 · update #1
Insurance companies file 1120L (life insurance) or 1120PC (property casualty) not 1120S.
2007-02-06 13:40:25 · answer #1 · answered by LuvDylan 5 · 0⤊ 0⤋
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RE Insurance Agency Tax Help 1120S?
I own an insurance agency. I have a seperate checking account for insurance premium funds. When we collect a insurance premium payment from a customer, the funds are deposited into this account and then we send our agency check to the insurance company. How are these funds treated on form 1120S?
2014-10-06 08:39:45 · answer #2 · answered by ? 1 · 0⤊ 1⤋
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RE Insurance Agency Tax Help 1120S?
I own an insurance agency. I have a seperate checking account for insurance premium funds. When we collect a insurance premium payment from a customer, the funds are deposited into ...show more
2014-09-12 04:52:55 · answer #3 · answered by Daphne 1 · 0⤊ 1⤋