fill a completed 2019 form 1120-S for Engineers Plus, Inc by pencil or pen using the forms required and available at www.irs.gov. You may instead use the fillable PDF forms from the IRS webpage if you prefer. No returns prepared in tax preparation software will be accepted. Please work independently. You will need to prepare the first 5 pages of the return, the required Schedule K-1s, and any other schedules required by the instructions (4562, 4797, additional schedules like pg. 1 other expenses, etc.). You dont need a COGS schedule form 1125-A.

Info: Engineers Plus, Inc. is a 2 shareholder S-Corp that provides civil engineering and consulting services. Their 2019 Income Statement and 2018 and 2019 Balance Sheets are posted in Canvas. Their shareholders are: 60%: Steven Pinniac 2397 Langwood Lane Burlington, VT 23147

SS# 842-98-0706 Steven gets the salary because he works every day for the corporation as one of the engineers. 40% John Roe 48 Capital Lane Burlington, VT 23145 SS# 993-47-6554

Their office is at 16493 Engineer Way in Burlington, VT 23146 and this is their address for the tax return. Their tax ID# is 47-1764747. You will need to look up their business activity code.

They split the shareholder withdrawals and income based on their ownership percentages. The shareholder loan was initially given to Steven to help buy a yacht in 2018. He borrowed an additional $200,000 in 2019 to pay for tuition and expenses for his daughter at Yale and a new Lexus for his Son.

The balance sheet and income statement are accrual, GAAP based statements. They use straight line depreciation for books and MACRS for tax. They would like to Sec. 179 the furniture and equipment purchased in 2019. They had no disposals of any equipment in 2019. MACRS depreciation should be $9,800 excluding the Sec. 179 for the equipment purchased. The Sec. 1231 Gain on Land was from a flow-through entity the S-Corp owns in their Edward jones investment account, not from an asset disposal. Just show the gain as From K-1 and dont include disposal or acquisition dates on Form 4797.

They had actual bad debt write-offs in 2019 of $10,600.

They have no foreign accounts and both shareholders are legal citizens.

They elected S-Status on January 31, 2001

The corporation doesnt own stock in other companies or interests in any other entities other than fractional percentages in their investment account

They have never been a C Corp and have 1 class of voting stock

Engineers Plus, Inc. Income Statement For the Year Ended December 31, 2019 Income: Sales COGS - Staff Hours Gross Profit 5,487,700 (3,238,700) 2,249,000 7.250 4,950 210,000 26,400 2.497,600 Other Income: Interest Income Municipal Bond Interest Life Insurance Proceeds Sec. 1231 Gain - Land Total Income Expenses I Advertising and Promotion Automobile Expense Bad Debt Expense Computer and Internet Expense Depreciation Expense Insurance Expense Meals Expense Office Supplies Payroll Taxes Professional Fees Rent Expense Repairs and Maintenance Shareholder Salary Telephone Expense Travel Expense 37,500 24,400 22,550 30,200 14,300 46,800 12,100 71,000 232,060 7,200 108,000 22,800 79,000 32,900 27,800 Total Expenses 768,610 Net Income 1,728,990 Engineers Plus, Inc. Income Statement For the Year Ended December 31, 2019 Income: Sales COGS - Staff Hours Gross Profit 5,487,700 (3,238,700) 2,249,000 7.250 4,950 210,000 26,400 2.497,600 Other Income: Interest Income Municipal Bond Interest Life Insurance Proceeds Sec. 1231 Gain - Land Total Income Expenses I Advertising and Promotion Automobile Expense Bad Debt Expense Computer and Internet Expense Depreciation Expense Insurance Expense Meals Expense Office Supplies Payroll Taxes Professional Fees Rent Expense Repairs and Maintenance Shareholder Salary Telephone Expense Travel Expense 37,500 24,400 22,550 30,200 14,300 46,800 12,100 71,000 232,060 7,200 108,000 22,800 79,000 32,900 27,800 Total Expenses 768,610 Net Income 1,728,990 NASA Nebraska Space Grant Engineers Plus, Inc Balance Sheet As of December 31, 2019 Dec. 31 19 Dec 31 18 Assets Current Assets Cash Accounts Receivable Allowance for Uncoll Accts Total Current Assets 748 900 339,000 (603 1.027,550 503,754 276.187 148.400) B31,541 Long-Term Assets Furniture and Equipment Accumulated Depreciation Loan Costs Accumulated Amortization Investments - CDs Investments - Edward Jones Shareholder Loans Long-Term Asstes 462,999 (45,4661 14,000 14,000) 429,000 590,300 630,300 2,067,133 297,999 (31,166) 14,000 (14,000) 306,983 616,900 430,300 1,621,016 Total Assets 3.094,683 2,452,557 Liabilities Current Liabilities Accounts Payable Line of Credit Total Current Liabilities 343,407 29.000 372,407 56,571 62.700 119,271 202,000 574,407 Long-Term Liabilities Loan Payable-Bank of Nevada Total Liabilities Shareholders' Equity Retained Earnings Shareholder Distributions 222,000 341.271 3,840.276 (1.320,000) 2.520276 3.191.286 (1.080.000 2,111,286 Total Equity Total Liabilities and Equity 3,094,683 2,452.557 Engineers Plus, Inc. Income Statement For the Year Ended December 31, 2019 Income: Sales COGS - Staff Hours Gross Profit 5,487,700 (3,238,700) 2,249,000 7.250 4,950 210,000 26,400 2.497,600 Other Income: Interest Income Municipal Bond Interest Life Insurance Proceeds Sec. 1231 Gain - Land Total Income Expenses I Advertising and Promotion Automobile Expense Bad Debt Expense Computer and Internet Expense Depreciation Expense Insurance Expense Meals Expense Office Supplies Payroll Taxes Professional Fees Rent Expense Repairs and Maintenance Shareholder Salary Telephone Expense Travel Expense 37,500 24,400 22,550 30,200 14,300 46,800 12,100 71,000 232,060 7,200 108,000 22,800 79,000 32,900 27,800 Total Expenses 768,610 Net Income 1,728,990 Engineers Plus, Inc. Income Statement For the Year Ended December 31, 2019 Income: Sales COGS - Staff Hours Gross Profit 5,487,700 (3,238,700) 2,249,000 7.250 4,950 210,000 26,400 2.497,600 Other Income: Interest Income Municipal Bond Interest Life Insurance Proceeds Sec. 1231 Gain - Land Total Income Expenses I Advertising and Promotion Automobile Expense Bad Debt Expense Computer and Internet Expense Depreciation Expense Insurance Expense Meals Expense Office Supplies Payroll Taxes Professional Fees Rent Expense Repairs and Maintenance Shareholder Salary Telephone Expense Travel Expense 37,500 24,400 22,550 30,200 14,300 46,800 12,100 71,000 232,060 7,200 108,000 22,800 79,000 32,900 27,800 Total Expenses 768,610 Net Income 1,728,990 NASA Nebraska Space Grant Engineers Plus, Inc Balance Sheet As of December 31, 2019 Dec. 31 19 Dec 31 18 Assets Current Assets Cash Accounts Receivable Allowance for Uncoll Accts Total Current Assets 748 900 339,000 (603 1.027,550 503,754 276.187 148.400) B31,541 Long-Term Assets Furniture and Equipment Accumulated Depreciation Loan Costs Accumulated Amortization Investments - CDs Investments - Edward Jones Shareholder Loans Long-Term Asstes 462,999 (45,4661 14,000 14,000) 429,000 590,300 630,300 2,067,133 297,999 (31,166) 14,000 (14,000) 306,983 616,900 430,300 1,621,016 Total Assets 3.094,683 2,452,557 Liabilities Current Liabilities Accounts Payable Line of Credit Total Current Liabilities 343,407 29.000 372,407 56,571 62.700 119,271 202,000 574,407 Long-Term Liabilities Loan Payable-Bank of Nevada Total Liabilities Shareholders' Equity Retained Earnings Shareholder Distributions 222,000 341.271 3,840.276 (1.320,000) 2.520276 3.191.286 (1.080.000 2,111,286 Total Equity Total Liabilities and Equity 3,094,683 2,452.557