article thumbnail

Financial vs Tax Accounting

SMBAccountant

According to Investopedia, tax accounting is “a structure of accounting methods focused on taxes rather than the appearance of public financial statements”. Tax accounting applies to individuals, businesses, and corporations.

article thumbnail

My Teaching Method

Withum

Introductory Course in Financial Accounting at Baruch College This Friday, I will start a new semester teaching the introductory course in financial accounting at Baruch College, my alma mater. About 60% of the students are split between accounting and finance majors.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

FASB approves income tax reporting standard

Accounting Today

The Financial Accounting Standards Board voted to require companies to tell the public more about the taxes they pay, starting as early as 2025.

article thumbnail

FASB releases income tax disclosure standard

Accounting Today

The Financial Accounting Standards Board issued an accounting standards update Thursday aimed at improving income tax disclosures from companies.

article thumbnail

How Much Is a Tax Consultant?

xendoo

If your situation requires specialized knowledge about tax codes, fees are usually commensurate with qualifications. What Does a Tax Consultant Do? A tax consultant is trained in tax law and financial accounting. They also should know recent tax law changes on both a federal and state level. .

article thumbnail

Shrinking the Delaware Tax Loophole: Other U.S. States to Incorporate Your Business

inDinero Tax Tips

Take note, gross receipts tax in Delaware cannot be reduced by deducting expenses related to the costs of the goods or services sold. Your very own Delaware corporate tax calendar. Delaware incorporated entities that owe $5,000 or more in franchise taxes must make estimated quarterly payments in progressively smaller amounts.

article thumbnail

Make Sure You Know Your IRS Tax Deadlines for Filing Your 2020 Business Taxes in 2021

inDinero Tax Tips

Extension tax deadline for partnerships ( Form 1065 ). S Corporation Tax Deadlines. Original tax deadline for S Corporations ( Form 1120-S ). Extension tax deadline for S Corporations ( Form 1120-S ). C Corporation Tax Deadlines. Original tax deadline for C Corporations ( Form 1120 ).