how can you change the type of tax return selected for a company in the prep...
how can you change the type of tax return selected for a company in the prep for taxes tool in QuickBooks
Homework Answers
Select the menu of the company
Click My Company (or, it might show as Info of Company as the wordings keep changing the wording)
On the top right is a Pencil Tip = Edit.
Alter the tax mapping here for the type of Tax Entity.
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how can you change the type of tax return selected for
a company in the prep...
Which 3 are reasons a bookkeeper might use the Prep for taxes tool to ready their...
Which 3 are reasons a bookkeeper might use the Prep for taxes tool to ready their client’s books for the tax return?(Select all that apply) Ensure that all Balance Sheet accounts have been reconciled to a supporting document Make notes to remind them of important details of an account balance To create a period copy of their data Make and approve adjusting journal entries to record accruals or depreciation To migrate their data to QuickBooks Desktop
Discuss sales tax and how QuickBooks makes the process easier. Explain how tax is set up...
Discuss sales tax and how QuickBooks makes the process easier. Explain how tax is set up in QuickBooks (hint: a sales tax "item:"). Can multiple items for sales tax be set up? If so, why would a company want to do so? Demonstrate how to create a sales tax group.
Instead, Julie's Tax Prep
Instead, Julie’s Tax Prep only paid six months’ worth of office rent ($1,000/month * 6 months = $6,000) in Dec. 2020. The rent covers Dec. 1, 2020 through May 31, 2021. How much of the $6,000 rent can Julie’s deduct in 2020?
provide an example how can government tax cuts change a beta of a company. (beta=1.5)
provide an example how can government tax cuts change a beta of a company. (beta=1.5)
Can anyone help me with this tax return/memo assignment? REQUIRED: Please prepare a tax return for...
Can anyone help me with this tax return/memo assignment? REQUIRED: Please prepare a tax return for Garcias for 2018 as married filing jointly. You can retrieve a blank copy of the Tax return from IRS.gov. Please prepare and file all relevant schedules, sign and date the return as a paid preparer. Also write a brief memo to Garcias about their tax situations and advise them for future years. Ignore any state tax implications. Joe and his wife, Emily Garcia have...
Tax Prep 1 (Tax course 101 Final) Back . < $250 000 d. None of these...
Tax Prep 1 (Tax course 101 Final) Back . < $250 000 d. None of these Marks 1 John is a single taxpayer His taxable income on Form 1040, line 10 is $21,810 John will use which method to figure the tax on his taxable income Choose one answer a Tax table Tax rate schedule Percentage od Tax calculation works O O d Glenn's AG $34 500 He had $4,222 in medical and dental expenses. How much can he deduct...
Can someone explain why a change in inventory valuation method would result in a deferred tax...
Can someone explain why a change in inventory valuation method would result in a deferred tax liability/asset? Let's say you use FIFO for financial reporting, but average-cost for income taxes. How would this reverse itself over time? This seems like a permanent difference to me, but apparently, it's not. Thanks!
Is it possible for a client to change transactions in a QuickBooks Online company if the...
Is it possible for a client to change transactions in a QuickBooks Online company if the books have been closed with a closing date password? If so, how would you track any changes to transactions within the closed period? Yes, but only if they know the password and there's no way of tracking changes No. Even if they know the password, they can't change transactions on or before the closing date. Only the accountant can track changes Yes, but only...
Can someone please show me how to solve these tax-problems. Thank you. (the answers selected are...
Can
someone please show me how to solve these tax-problems. Thank you.
(the answers selected are incorrect) correct answers are 5,616 for
question 3 and 1200 for question 4
For the year 2017, Mary Larson, who is divorced, reported interest income of $100 and wages of $15,000. She maintains a household for herself and her two five-year-old twins who qualify as her dependents. What is the maximum earned income credit available to her for 2017? • $6,000 O $5,616 O...
On Dec. 15, 2019, Julie’s Tax Prep, a cash-method taxpayer, prepaid $4,000 worth ofdeductible interest on...
On Dec. 15, 2019, Julie’s Tax Prep, a cash-method taxpayer, prepaid $4,000 worth ofdeductible interest on a business loan. The interest won’t accrue until January 2020.Julie’s Tax Prep will be displaying for the first time at a trade show in July 2020. On Dec.16, 2019, Julie’s prepaid the $8,000 trade show booth rental expense. The payment isn’tdue until May 2020, and use of the booth will occur in July 2020.In addition, On Dec. 28, 2019, Ed’s Equipment repaired some equipment...
Tax Prep 1 (Tax course 101 Final) Back . < $250 000 d. None of these Marks 1 John is a single taxpayer His taxable income on Form 1040, line 10 is $21,810 John will use which method to figure the tax on his taxable income Choose one answer a Tax table Tax rate schedule Percentage od Tax calculation works O O d Glenn's AG $34 500 He had $4,222 in medical and dental expenses. How much can he deduct...
Can
someone please show me how to solve these tax-problems. Thank you.
(the answers selected are incorrect) correct answers are 5,616 for
question 3 and 1200 for question 4
For the year 2017, Mary Larson, who is divorced, reported interest income of $100 and wages of $15,000. She maintains a household for herself and her two five-year-old twins who qualify as her dependents. What is the maximum earned income credit available to her for 2017? • $6,000 O $5,616 O...
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