Description
Quickly master key tax accounting rules and concepts. Discover favorable methods for small businesses. How to select and adopt a method of accounting. Plus, review method vs. error, timing rules for income and expenses and inventory accounting. Examples and exercises are used throughout the course to illustrate relevant Internal Revenue Code, regulations, IRS rulings and court cases. In addition, review tax planning ideas and its relevance to the income tax provision for financial accounting. Formerly titled: Tax Accounting Methods
Highlights
- What is a method of accounting, and why is the answer important?
- How to select and adopt a method of accounting
- When is income to be reported for both cash and accrual method businesses?
- When are expenses to be reported for both cash and accrual method businesses?
- How and when to account for inventory
- How and when to change a method of accounting
- Avoiding accounting method problems
- Identifying planning opportunities
- Relevance to income tax provision for financial reporting
Objectives
- Identify issues with respect to cross border transactions
- Determine when the income is subject to the U.S. tax net
- Recognize opportunities for tax minimization strategies
Designed For
CPAs, attorneys and tax professionals.
Registration for this course has passed.
Course Pricing
WYOCPA Member Fee
$289.00
Non-Member Fee
$389.00
Your Price
$389.00
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