We’re excited to now support tax forms for S-Corps and C-Corps in order to speed up the tax preparation process for more businesses. Here’s how it works:
Throughout the year, categorize business income and expenses in Found using our transaction categories, which largely map to the income and deduction categories with the IRS.
Learn more: How should I categorize my business expenses?
During tax time, Found will auto-generate a Form 1120 for C-Corps or a Form 1120-S for S-Corps based on this categorized transaction data—no need to fill the form out manually or export this data to another app.
Tip: If you’re taxed as a sole proprietorship, Found will generate a Schedule C form instead.
After reviewing your tax forms, you can then export them as a PDF to use as you file your taxes.
If you work with an accountant or another person for tax prep, you can easily share access to your Found account* through our Accountant Access feature. They will get access to these tax forms, along with your account activity feed and business reports.
Tip: If you plan to e-file your taxes instead, you may be eligible for a discount through our partnership with e-filing software TurboTax*.
Make sure to also check out Found’s other tax tools, such as auto-saving for estimated taxes with the Taxes Pocket and keeping track of 1099 contractor tax forms in our contractor management section.
Disclaimer: The information on this website is not intended to provide, and should not be relied on, for tax advice.
*Found partners with Column Tax and TurboTax, and is not a filing service. Restrictions may apply, see TurboTax terms.
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Accounting and Taxes*Found is a financial technology company, not a bank. Banking services are provided by Lead Bank, Member FDIC. The funds in your account are FDIC-insured up to $250,000 per depositor for each account ownership category.
¹The Found Mastercard Business debit card is issued by Lead Bank pursuant to a license from Mastercard Inc.
The information on this website is not intended to provide, and should not be relied on for, tax or legal advice.
**Direct deposit funds may be available for use for up to two days before the scheduled payment date. Early availability is not guaranteed.
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