Archive for the ‘Tax Accounting’ Category
Tuesday, March 9th, 2010
Any practical work experience in that field or something related is valuable. Why? Because you have some working knowledge of the industry and how things work.
And if you have experience in the same job as say an IRS Auditor, then you could pretty easily transfer that to the ...
Posted in Tax Accounting | 1 Comment »
Saturday, March 6th, 2010
I should do the service tax related job. Kindly brief m
Don't know what you mean, so I'll give you some possibilities:
When you pay your peeps, this is what you enter:
wages expense...1000 (dr)
fica tax payable...77 (cr)
fed withholding...100 (cr)
cash in bank.......823 (cr)
payroll tax expense...277 (dr)
futa tax payable...80 (cr)
suta tax payable...120 (cr)
fica tax ...
Posted in Tax Accounting | 3 Comments »
Wednesday, March 3rd, 2010
Is it because you can write off more in your accounts, than technically claim in your company tax return?
Depreciation for accounting purposes is designed to reflect the economic life of an asset and so spread its value over that life. It is based on the principle of matching income with ...
Posted in Tax Accounting | 3 Comments »
Sunday, February 28th, 2010
how to figure out net of tax in accounting
Here's the formula
Description $ %
Gross Sales ...
Posted in Tax Accounting | 1 Comment »
Thursday, February 25th, 2010
I want something catchy, not boring and normal.
In accounting, catchy doesn't fly. Accounting is expected to be boring, staid, conservative and professional. I want to puke every time I see the "cyclops" or "money suit" tax prep ads and the ones with the "green presidents" who don't know ...
Posted in Tax Accounting | 2 Comments »
Monday, February 22nd, 2010
Earlier this year, I began contributing to a Roth 401(K) that my employer offers, and to which I have made previous contributions (pre-tax). However, in viewing my account, the pre-tax (old 401(k) and post-tax (roth 401(k) investments appear to be commingled.
Is this a problem? Would I ever ...
Posted in Tax Accounting | 4 Comments »
Friday, February 19th, 2010
Taxes are technically accounts payable, right? All "payables" are liabilities. So would tax affect the basic accounting equation? (assets=liabilty + owners equity) Or is tax a completely different thing in the world of accounting? This isnt a HW question btw, i would just like to know
Taxes could be a liability ...
Posted in Tax Accounting | 2 Comments »
Tuesday, February 16th, 2010
I'm doing a little research on accounting & consulting fees. I work for a nationwide niche firm that has about 1,500 accounting clients (including tax prep) averaging about 700-800K per year in operating revenue. I believe we are undercharging for our services. Our average accounting fees are about 1% of ...
Posted in Tax Accounting | 1 Comment »
Saturday, February 13th, 2010
I have passed the CPA exam. I do not have tax experience other than doing my own tax returns, but I am very interested in tax and read a lot about taxes in my free time. I would like to apply for a tax job at the ...
Posted in Tax Accounting | 4 Comments »
Sunday, January 31st, 2010
I've decied to start my own business but I was wondering If I needed to charge/remit payments to my state for sales taxes. If so, what would my rate be? I live in Utah.
Services are not taxable. Goods are taxable.
Each state has its own website, on it will be ...
Posted in Tax Accounting | 3 Comments »