Tips and useful advices for first time tax preparers. What are main advantages and disadvantages of being a tax preparer?
Options to pay taxes if you do not have the whole amount of money when the time is due.
How to calculate taxable income and tax liability. Income tax calculation formula. What is included in adjustments for AGI and from AGI. Standard deductions vs. Itemized deductions.
Which taxes the self-employed individual should pay? What the self-employment tax consist of. Examples of calculation a self-employment tax.
Main advantages and disadvantages of calculation taxes yourself vs hire a tax professional.
Tax evasion vs tax avoidance. Common examples of tax evasion and tax avoidance. Tax preparers due diligence, penalties for not compliance.
Cost of sales for a retail company. How to calculate cost of sales. Cost of good sold vs. cost of sales.
Who are third-party payers for healthcare organizations? Third-party payments. Third-party payers influence our health care system.
Cost of goods sold for a manufacturing company. Ties between three inventory accounts to find cost of goods sold for a manufacturing company. Where does cost of goods sold appear on financial statement?
Depreciation definition. Accounting methods used to calculated depreciation. Where depreciation is reported?
Depletion - definition, calculation methods. Computation of the depletion cost per unit - the depletion rate.
Amortization definition. What are intangible assets? Accounting methods to calculate amortization. Accounting entries to record an intangible asset’s amortization.