Show:
Book-Tax Differences
Book-Tax Differences
Book-Tax Differences
Book-Tax Differences
Book-Tax Differences
100
The schedule on which you report book-tax differences
What is Schedule M-1 or M-3?
100
Municipal bond interest is considered a ________ difference.
What is favorable or permanent?
100
One category of meal and entertainment expenses that is fully deductible
What is travel, company picnics, etc.?
100
The phase-out limitation for start-up and organizational expenses
What is $50,000?
100
A company paid $10,000 in fines. What would be the book-tax difference amount?
What is $10,000?
200
The percentage limit for corporate charitable contribution deductions
What is 10%?
200
The tax treatment for state income taxes
What is deductible when paid?
200
Length of time after the end of the current taxable year that the bonus must be paid in order to use a deduction on the tax return
What is 2 1/2 months?
200
Under what two conditions are officers' life insurance premiums nondeductible for tax purposes?
What is (1) company is the owner, (2) company is the beneficiary?
200
The limit for executive compensation to be deductible by public companies
What is $1,000,000?
300
The amount that Schedule L assets must exceed that would require a taxpayer to use Schedule M-3.
What is $10 million?
300
The code section for Domestic Production Activities Deduction
What is Sec. 199?
300
The line number that you would find the "federal income tax per books" on Schedule M-1
What is line #2?
300
John, the professor, teaches at _______________.
What is The University of Texas at Austin?
300
The number of years or months that software development costs can be amortized for tax purposes
What is 36 months or 3 years?
400
Officers that are subject to the executive compensation limit (the definition of a "covered employee") **Make sure to reference which officers are excluded from the limit**
What is CEO, and the three most highly compensated officers for the taxable year (other than the principal executive officer or the principal financial officer)?
400
Impact on taxable income for the increase in cash surrender value of officers' life insurance (name both unfavorable/favorable AND temporary/permanent)
What is favorable permanent?
400
Cash payments must be made within _______ months after the close of the taxable year for pension costs to be deductible.
What is 8 1/2 months?
400
Spell Melissa's last name.
What is S-C-H-L-E-I-T?
400
Under what circumstances is goodwill amortizable?
What is purchased or acquired externally (not internally developed)?
500
John, the partner, was in the ______ group in the Boston office.
What is SALT?
500
The code section for goodwill and non-compete covenants
What is Section 197?
500
Tax treatment for market discount bonds, assuming no election is taken
What is deferred until disposal?
500
UNICAP stands for ____________.
What is Uniform Cost Capitalization?
500
Name one Revenue Procedure that refers to the tax treatment of software development costs.
What is Rev. Proc. 2000-50 or Rev. Proc. 2007-16?