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S-Corp Tax shifting income or expenses
Hello. I need help with understanding shifting income from 1120 to 1040. If I have travel and food expenses on my 1120 can I shift that income to 1040? Or what is a rule for shifting s corp income to 1040
S-Corp Tax shifting income
Hello. I need help with corporate tax when filling out an 1120 and whether or not I can shift income from 1120 to 1040. If I am a business owner and have travel and food expenses can I shift that income to 1040 from 1120.
How to model value-added taxes or VAT: UK/EU Retail business
Hey there. I'm a dumb Yankee taking my first up-close look at a UK retail business (think restaurants, etc.). How the heck do y'all deal with VAT in a DCF? My understanding is VAT should be charged on all of these retail sales transactions. So if the company generated GBP 1MM in Q1, VAT is 200K. But...
Tax assessment before electronic payment system: how did it work?
How did the government check individual companies' taxable profits before the introduction of an electronic payment system? e.g. How did the government check whether a restaurant in 1960 has correctly filed its VAT? Perhaps a wee bit far fetched; likewise, how did a cotton merchant in the victorian...
Interest deductibility
By the end of 2017, interest deductibility has been limited to maximum 30% of EBITDA . Does this mean that in the Income Statemente we only report interest expenses up to 30% of EBITDA?
PE Firm Software K-1 for Limited Partners
Does anyone have any experience with Enterprise wide PE Taxation software, specifically software or systems that generate K-1's for limited partners. My experience and observations tell me its always heavily custom Excel workbooks/models with lots of manual intervention and ad hoc rules by...
Accounting or Taxation?
Hi y'all, I was wondering whether Accounting or Taxation is a better major for IB? There are a lot of similarities between the two but I certainly like Taxation better since it is less repetitive and the real world value of it outside of IB is much bigger. Any thoughts?
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