C-Corp Return
This is the tax form number for a C-Corp Return
What is Form 1120?
This is the tax form number for a Partnership Return
What is Form 1065?
An individual who earns interest from a bank account receives this from the bank
What is 1099-INT?
This is the software you use to prepare tax return drafts
What is GoSystem?
This is given to clients before tax preparation to keep track of the open items needed to prepare the tax return
What is a Information Request List?
This is the federal tax rate for C-Corp Returns
What is 21%?
These two Excel Calculations should be done on all S-Corp and Partnership Returns
What is QBI and 163j Calculations?
This form has information regarding an individual's interest earned, proceeds from Broker and Barter Exchange Transactions, and dividends earned.
What is a Consolidated 1099?
Schedule L highlights this information
What is Balance Sheet per Books?
This type of return has its own federal and state workpaper
What is C-Corp?
These are at least two things that go into the retained earnings roll calculation
What are Beg. Retained Earnings, Book Income, and Distributions/Contributions?
This is the federal tax rate for S-Corp Returns
What is 0%?
This type of entity gets reported on Schedule C of the Individual Return
What is Sole Proprietorship?
Schedule M-1 on the Tax Return highlights this
What is Book-To-Tax Adjustments
This is the difference between a tax return draft folder and an internal client box folder in Box
These are at least 3 book-to-tax adjustments
What are Meals & Entertainment, Federal Income Tax, Depreciation/Amortization, Charitable Contributions, Officer Life Insurance, Fines/Penalties, Gifts, Accrued Expenses, Bad Debt, Gain/Loss on Sale/Disposal, etc?
What are Partners and Shareholders?
What are State Taxes (Property Taxes), Home Mortgage Interest, Mental and Dental Expenses (Over 7.5% AGI), Charitable Contributions, Gambling Losses (up to winnings), etc?
These are two types of delivery methods for Tax Returns to the client
What is Paper-File and E-file?
This is the software that the Withum Auditors use where the tax preparer would pull the Trial Balance from if it's a Withum Tax & Audit Client
What is DAS/Caseware?
These are the 3 main things needed to calculate State Apportionment
What is Sales by State, Payroll by State, and Property by State?
This form is required for rental real estate returns
What is Form 8825?
The individual tax workbook agrees to this schedule and line item
What is Schedule A Line 5a?
For Foreign Currency Translations, Yearly Average should be used for _____ and Year End Rate should be used for _____
What is Yearly Average should be used for Income Statement Items and Year End Rate should be used for Balance Sheet Items?
(Deductible/Nondeductible) State Income Taxes are ___ and Federal Income Taxes are _____ for federal purposes
What is State Incomes are Deductible and Federals Income Taxes are NOT Deductible for federal purposes.