Comments for Tax Accounting Services

Comment on What is the best position to work in an Accounting Firm, at the Start, is it "Tax" or "Audit"? by Bob the Boat

Bob the Boat — Wed, 24 Mar 2010 16:51:59 +0000

There are many branches of accountancy, but between taxation and auditing, I would look at what exactly you will be responsible for.

Giving good taxation advice is lucrative, but if you are just checking numbers, it will become boring.

Equally although auditing accounts and putting your name to them would be more satisfying, it will not pay as much.
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Comment on Compare and contrast GAAP and tax accounting? by swordfish

swordfish — Sun, 21 Mar 2010 16:22:59 +0000

GAAP applies to tax accounting in practice.It is the set of conventions and practises that are standard and need to be followed by companies while they are auditing their accounts.
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Comment on Compare and contrast GAAP and tax accounting? by gailforce_wind

gailforce_wind — Sun, 21 Mar 2010 15:53:59 +0000

GAAP applies to tax accounting in practice.
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Comment on Reccommend a book on UK tax/accounting for newly self-employed? by Josh S

Josh S — Thu, 18 Mar 2010 17:21:59 +0000

Just read this book and its very simple and easy to follow.I have had a small business for many years (now closed ) so it was good to learn the basics again.

It is ACCOUNTS DE MYSTIFIED by Anthony Price .

Should be able to get it from your local library.The ISBN is 9780273714927 if that helps

Good luck

josh
References :
Personal

Comment on Reccommend a book on UK tax/accounting for newly self-employed? by JustCurious

JustCurious — Thu, 18 Mar 2010 16:35:59 +0000

Try the following books for the tax aspects:

Which Tax Handbook 2008/9:

http://www.amazon.co.uk/Handbook-2008-Which-Essential-Guides/dp/1844900452/ref=pd_sim_b_3

or the Daily Mail Tax Guide 2008/9:

http://www.amazon.co.uk/Daily-Mail-Tax-Guide-2008/dp/1846680891/ref=pd_bxgy_b_img_a

For general advice on various aspects of being self-employed and sample forms try:

http://www.lawpack.co.uk/Business/Self-Employment/product797.asp

Hope that helps.

One way to approach this is to use an accountant to set things up in the first year and then use that as an example to do it yourself in subsequent years.
References :
I am an accountant

Comment on Reccommend a book on UK tax/accounting for newly self-employed? by cole

cole — Thu, 18 Mar 2010 16:26:59 +0000

I would recommend an accountant to do your yearly accounts.
References :
self employed for 26 years.

Comment on Reccommend a book on UK tax/accounting for newly self-employed? by Ello Guv

Ello Guv — Thu, 18 Mar 2010 16:14:59 +0000

I'll be honest and say hire a local accountant. I work with self employed people everyday and most inform me that after a few hours with an accountant, they are actually saved money. The accountant saves them more in deductibles than it cost to pay they're hourly rate.
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Comment on I want to become more knowledgable on tax law. Should I study law or accounting? by Ty M

Ty M — Mon, 15 Mar 2010 19:15:59 +0000

Attend a school that offers a JDMBT. The masters in business taxation along with your JD will be the most comprehensive program on tax law that you can find.
References :
Professor Gardner, UCLA

Comment on I want to become more knowledgable on tax law. Should I study law or accounting? by Vanesa G

Vanesa G — Mon, 15 Mar 2010 19:03:59 +0000

accounting is mostly about tax laws go for that!
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Comment on Accounting journal entry for estimated tax payments? by avataz_99

avataz_99 — Fri, 12 Mar 2010 19:27:59 +0000

DR Prepaid Taxes (Other Current Asset)
CR Cash

This is basically it
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Public Accountant