The Tax Preparation Blog

Posts Tagged ‘money’

As Tax Day Approaches, More Seek Accountants Online

The month of April begins tomorrow and for businesses and individuals in the United States, that means there’s only two more weeks until the deadline for filing your federal tax returns. As the deadline approaches, a growing number of businesses are turning to the Web to not only do their filing, but also to find accountants. The demand for online accountants has risen by 90% over last year …

Micah and Marc-Mihai answer questions.

Question: CPA or CPA candidates help! Advanced accounting? or Auditing (Financial)?

Hi. I have a bachelor’s degree (not accounting or business-related major). Although I don’t have accounting major degree I took lots of accounting and business-related classes at Junior College and University after transfer.
I did look at my college transcripts and found out that I only have 3 units left to meet educational requirements (accounting 24 units, business-related 24 units). And I’m thinking about to take “Advanced accounting” or “Auditing (Financial)” class at an accredited education institute.

I took “Principle of accounting 1 and 2″, “Intermediate accounting”, “Federal Income tax”, “Cost Accounting”. And I’m eligible to take both Advanced accounting and Auditing class.
But I only want to take one of them due to money issue.

And then from next year I want to start review courses either Becker or Wiley.

Which class do you recommend me to take? Advanced accounting or Auditing?

Thanks

Answer: Auditing. It would help you in your CPA board exam. Take note that it involves both theory and practice. Also you need to have extensive knowledge in Financial Accounting. Auditing is purely analytical whereas Advance Accouting is more procedural.
I took both since I finished BS Accountancy. Auditing is one of the most difficult subject areas in my undergraduate years and also during board exam. But it’s worth it because I get to work in an Accounting firm years ago. Now I’m into Forensic Accounting. Much more interesting.

Property Management Kit For Dummies (Book & CD) $18.88 Thinking about becoming a landlord? Property Management Kit For Dummies, 2nd Edition gives you proven strategies for establishing and maintaining rental properties, be they single family or multi-resident. You’ll see how to prepare and promote your properties, select tenants, handle repairs, avoid costly mistakes and legal snafus — and meet your long-term goals. You’ll learn all the basics of …

Wiley Registered Tax Return Preparer Exam Review 2012 (Wiley Tax Return Preparer Competency Exam Prep: Individual Tax Filing) $35.06 The most effective system available to prepare for the new Tax Return Preparer Competency ExamIn recent years, the role of third party assistance in tax return preparation within the United States has become more significant. To acknowledge this trend, the IRS is strengthening partnerships with tax practitioners, tax return preparers, and other third parties in order to ensure effective tax admini…

U.S. Master Tax Guide (2012) – Includes Top Federal Tax Issues for 2012 CPE Course $20.00 The tax professionals favorite quick reference meticulously researched to cover any issue affecting tax returns – also now includes Top Federal Tax Issues for 2012 CPE Course. The years significant new tax developments are conveniently highlighted and explained. Explanations are footnoted to provide accurate, legally-sound guidance on applying and complying with todays complex federal tax laws. In…

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Dolby Labs: The Kings of Immersive Audio Selling at a Discount

By Bill Smith. INVESTMENT THESIS Read more » »

VITA Program

Question: Alright, so if I claim RRSP’s ($5000), tuition ($1400) and my personal deduction, ($9600) in Canada….?

is it the same percent that I get back from all of them? 15%. I made around $40000 this year, so $1138 of that is taxed at 22%, the rest 15%. Also do these deductions just apply to my federal income tax or my provincial as well?

Answer: There is a separate provincial non-refundable tax credit. The easiest way to figure this out is to look at the actual Schedule 1 and provincial tax calculation.

Quicken Rental Property Manager 2011 – [Old Version] $59.96 Quicken Rental Property Manager 2011 includes all of the features found in Quicken Home & Business, plus smart tools for managing your rental properties. Always know how your home-based business is doing. Helps maximize deductions and simplify your taxes. Manage Your Personal, Business, and Rental Property Finances in One Place Organizes Your Finances All in One Plac…

Wiley Registered Tax Return Preparer Exam Review 2012 (Wiley Tax Return Preparer Competency Exam Prep: Individual Tax Filing) $35.06 The most effective system available to prepare for the new Tax Return Preparer Competency ExamIn recent years, the role of third party assistance in tax return preparation within the United States has become more significant. To acknowledge this trend, the IRS is strengthening partnerships with tax practitioners, tax return preparers, and other third parties in order to ensure effective tax admini…

Jackass Investing: Don’t do it. Profit from it. $9.99 Jackass Investing is as provocative as its title. Mike Dever systematically rips apart the conventional investment wisdom – myth by myth – then replaces it with a “return driver” based methodology that results in a “Free Lunch” portfolio – one that produces both greater returns and lower risk. More than ten years in the making, and supported by the twin pillars of extensive research and more than …

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Scott Burns: The old model is outdated, failing; time for America 2.0

My recent column suggesting Congress should make a down payment on restoring our trust by returning the excess employment taxes workers have paid since 1984 hit a nerve. Reader mail carried messages of frustration and anger – a sense of futility about change. Responses to a follow-up column on the size of our financial problem brought questions: OK, readers asked, what should be done?

Go! Tax Canada

Question: Do college students with kids and no job need to fill out income tax returns?

I am a returning college student. I am married and I have 2 children. In 2005 I decided to return to school after a life altering car accident. In 2006 I was a full time student and had no job. My wife did not have a job either. My question is: Did we have to fill out out an income tax form?

As you can probably tell I did not fill one out for 2006, but I was advised by a tax preparer that it was not necessary. I am here asking now, because I am not sure she was entirely correct.

Answer: If you had no “taxable income” in a given year it is not necessary to file a tax return. Sometimes it is difficult to determine what might be taxable income. If you had a large settlement for the accident that may not be taxable but the interest you have made on that settlement would be. I could list dozens of situations like this one. You really should see a tax professional and explain your circumstances. My office would not charge for such a service and I am sure you can find someone in your area that also will advise you without charge

5 Secrets From Tax Professionals

Save money at tax time by working harder all year long.

Tax Tips: Ask Your Tax Preparer to e-File

Question: jobs related to accounting?

Please tell me the job titles related to accounting, for example, cost accountants or tax accountants.

Answer: Possible job titles are Financial Accountant, Management Accountant, Tax Accountant, Finance Manager, Finance Officer, Chief Finance Officer, Chief Accountant, Group Accountant, Regional Accountant, Controller, Property Accountant, Financial Analyst, Budget Analyst, etc. Those who work in audit firms will have titles used by those firms, like Audit Assistant, Audit Senior, Audit Manager, etc.

Bookkeeping and Accounting DVD (1945) Job Training and Skills Vintage Instructional Film $4.99 This vocational guidance film explores all the aspects of accounting and bookkeeping before the age of the computer. According to the film, an accountant must have strong moral fiber, be able to work in a team, and have significant organizational skills. It goes on to describe the various types of tasks bookkeepers and accountants perform, and what tools and education each must have to complete th…

Sage Peachtree Complete Accounting 2011 [OLD VERSION] $16.00 Sage Peachtree Complete Accounting 2011 helps you work more easily and efficiently with robust core accounting and added features like job costing, time and billing, in-depth inventory capabilities, and analysis tools. Its multi-user option* helps improve productivity while providing screen-level security and a clear audit trail. Save time with simplified dashboards, management centers, integratio…

QuickBooks for Mac 2012 $129.50 Easily manage your businessProductInformationQuickBooks for Mac 2012 is small business accounting that lets youorganize your finances all in once place so you can quickly find whatyou need.  Easily create invoices and track your businesssales and expenses – and get reliable records for tax time. QuickBooks for Mac 2012 is set up in minutes and is easy tolearn and use along with looking a…

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Film industry tax incentives generated nearly 3,000 ‘indirect jobs’ in 2010, study finds

The debate over the sustainability of Michigan’s film industry tax incentives is heating up with the release of a study concluding that the incentives generated more “indirect jobs” than the film companies generated themselves…….

Tax Accounting Jobs