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SCHEDULE C Part of Individual Tax return   C–CORPORATION FORM 1120 For tax purposes, this type of organization pays corporate income taxes and generally issues dividends to the shareholders. This type of structure has double taxation in that the entity pays corporate tax, and when property is distributed to the shareholders, it is taxed again at the individual level.   S-CORPORATION FORM 1120-S For tax purposes, this type of organization allows for a pass through of profits to the shareholders thereby eliminating double taxation. Generally, this type of structure allows for “reasonable salaries” to be paid to shareholders actively participating in the entity. The remaining property is distributed to the shareholders as dividends and taxed at the individual level.   PARTNERSHIP FORM 1065 For tax purposes, this type of organization allows for a pass through of profits to the members thereby eliminating double taxation.   TAX ORGANIZER We put together a checklist to help you get all of your info in line before the filing begins!