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P health insurance, and meals and lodging furnished for the employer s convenience. A shareholder s liability is limited to the amount invested, plus his or her own malpractice or guarantees. C corporation Form 1120, U.S. Corporation Income Tax Return IRS Pub. 542, Corporations IRC Subchapter C, 301 through 385 Double-entry bookkeeping is required as the tax return requires a balance sheet. No restriction on use of a fiscal year. Exception: A personal service.

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