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15h

Can dues and subscriptions expenses be deducted 100% to calculate taxable income in an LLC company?

I'm using Quickbooks Online, "Dues & Subscriptions" is one of the expense accounts we have. I would like to know if this expense can be deducted 100% for calculating my taxable income. Our... more

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Accounting Tax Accounting United States

1d

How should I account for Social Security contributions?

I'm currently tracking all my finances with GNUCash, and splitting the various paycheck deductions into expenses. It's pretty nice to be able to correctly predict what will be on my W2, and it's... more

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Accounting Tax Accounting Taxes

1d

What are some factors I should consider when choosing between a CPA and tax software?

Its my first time filing taxes on my own and I need to decide between using some tax software like TurboTax or hiring an accountant. What are some factors I should consider when making this... more

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Accounting Tax Accounting United States

1d

What tax year does my income get assigned to if my client sends the payment in December but I receive it in January?

Suppose I did some contracting in December, my client puts a check in the mail in December, and I receive it and cash it in January. Does my income count for December or January?

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Accounting Tax Accounting Managerial Accounting

1d

What are the three basic rules of accounting?

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Accounting Sales Tax Tax Accounting

1d

Is there a dollar amount that, when adding Massachusetts Sales Tax, precisely equals $200?

I am confused about calculating Massachusetts Sales Tax (6.25%). Is there such an amount, that when added to its sales tax, equals $200? The reason I ask is because my business has been charging... more

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Accounting Tax Accounting Expenses

1d

Am I being fair to my partner, or will she lose money?

My partner and I both have good degrees, and should be able to figure out simple arithmetic, ***but*** ... We work through our own company, which we share equally. I purchased an item which I... more

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Accounting Tax Accounting Taxes

1d

FAFSA implications of filing jointly?

Recently our accountant filed a tax return as **married** for my partner and me (we live together). She is applying for FAFSA and is not sure whether she should be reflecting her marital status... more

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Accounting Tax Accounting Taxes

1d

What does "write-off" mean?

I've heard this term throughout my life but I've never been entirely sure exactly what it means or why you would want to write something off.

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Accounting Tax Accounting Taxes

1d

U.S. Taxes: Can you deduct or depreciate equipment that was both bought and sold in the same year?

Assume there is equipment used for a for profit endeavor that will be deducted from earnings. That equipment is also sold in the same year, for less than or equal to the purchase price. How does... more

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Accounting Tax Accounting International

1d

Do I need to pay US tax if my father puts half of his company (in the Dominican Republic) in my name?

I am a permanent resident of the USA (a green card holder) eligible to apply for citizenship, but I do not know how convenient this might be in my situation. My father has a company in the... more

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Accounting Tax Accounting Taxes

1d

Can a IT Ltd company gamble and claim the losses as an expense?

As a UK Ltd company is it legally expected that an IT company might bet the companies money and then claim the losses as an expense against that tax year?

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Accounting Tax Accounting Taxes

1d

Does a company in the UK have to pay taxes on betting winnings?

Betting in the UK is taxed on the company level so the bettor doesn't have to pay taxes on his winnings. I have a company in the UK whose only objective is to trade on sports betting. Will I have... more

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Accounting Tax Accounting Taxes

1d

Are in-kind donations from my S-Corp tax-deductible in any way?

I have an S Corp that each year, sponsors a film festival by creating their website for free. In return, they print our logo in their program guide. Last year, I gave them 80 hours of work ... more

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Accounting Tax Accounting E Commerce

1d

Correct way to calculate prices including tax in foreign currencies?

I'm trying to upgrade an application so that I can sell to multiple countries. I store all of my prices in the database in GBP excluding tax up to 4dp and I need to calculate the prices in the... more

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Business Tax Accounting Business business

15d

Business calculations

Christina has recently been hired as an account assistant. Which form will Christina’s employer require her to complete in order to have the appropriate amount of federal taxes withheld from her... more

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Tax Accounting

02/15/19

What is pension tax? Is it a bad or good thing if pension tax is cut by 30-40 percent?

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Tax Accounting Chartered Accountants Foreign Payments

01/23/19

Form 15 CB for Foreign Payments

Whether TRC (Tax Residency Certificate) for issuing Form 15CB required for the period of Invoice or For the period of Payment?

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Accounting Tax Accounting

12/06/18

Which are the journal entries that summarizes Apple’s Income Tax Expense for 2017

In the report there is:Provision for income tax expense =15738Cash paid for income taxes = 11591By seing this i would assume 15738 as a tax expense (debit), i would credit 11591 as cash and... more

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Accounting Finance Tax Accounting

11/24/18

What does Income taxes mean in accounting policies and how they impact financial statements?

Income taxes expense comprises current and deferred taxes. Current income taxes and deferred income taxes are recognized in net income for the period, except for items recognized directly in equity... more

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Tax Preparation Tax Accounting

11/19/18

Filing status exemptions and eitc?

Karla is 25, unmarried and was a full-time student from January through June. Karla worked part time but did not provide more than 50% support for herself or her son Sam, who is 1. Karla and Sam... more

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Tax Preparation Tax Accounting

09/17/18

Tax preparation

Elise worked for 30 years for her employer. She has decided to retire. Elise is 60 years old. She contributed $15,000 pre-tax to her qualified employee pension plan. Elise will receive from the... more

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Tax Accounting Corporate Taxation

05/07/18

tax macrs question

. Review of Ace’s financial reports and information revealed the following:Sales 2.4 millionOpening inventory 650,000Purchase 1.1millionClosing inventory 585,000Heat, light utilities... more

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Tax Accounting

01/17/18

Form _______ reports the total amount received during the tax year from a pension, annuity, retirement or profit sharing plan, IRA or insurance contract.

a. 1099R b. 1099B c. W-2 d. 1098B

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Tax Accounting Earnings And Profits

12/03/17

Corporate Distributions E+P Tax Need Help

Need some help with steps on this, trying to save money on review and that comes with no solutions sometimes :( I appreciate those who help me so far and gave me great results when I get that... more

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Tax Accounting

Can dues and subscriptions expenses be deducted 100% to calculate taxable income in an LLC company?

How should I account for Social Security contributions?

What are some factors I should consider when choosing between a CPA and tax software?

What tax year does my income get assigned to if my client sends the payment in December but I receive it in January?

What are the three basic rules of accounting?

Is there a dollar amount that, when adding Massachusetts Sales Tax, precisely equals $200?

Am I being fair to my partner, or will she lose money?

FAFSA implications of filing jointly?

What does "write-off" mean?

U.S. Taxes: Can you deduct or depreciate equipment that was both bought and sold in the same year?

Do I need to pay US tax if my father puts half of his company (in the Dominican Republic) in my name?

Can a IT Ltd company gamble and claim the losses as an expense?

Does a company in the UK have to pay taxes on betting winnings?

Are in-kind donations from my S-Corp tax-deductible in any way?

Correct way to calculate prices including tax in foreign currencies?

Business calculations

What is pension tax? Is it a bad or good thing if pension tax is cut by 30-40 percent?

Form 15 CB for Foreign Payments

Which are the journal entries that summarizes Apple’s Income Tax Expense for 2017

What does Income taxes mean in accounting policies and how they impact financial statements?

Filing status exemptions and eitc?

Tax preparation

tax macrs question

Form _______ reports the total amount received during the tax year from a pension, annuity, retirement or profit sharing plan, IRA or insurance contract.

Corporate Distributions E+P Tax Need Help

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