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Understanding depreciation and its impact on corporate tax

ThomsonReuters

Jump to: How does depreciation affect corporation taxes? Accelerated depreciation for corporations How does depreciation work in an S corporation? What is the depreciation guidance for corporate alternative minimum tax? In short, depreciation can result in a reduction in corporate taxes.

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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.

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My Teaching Method

Withum

This course has a clear objective introducing the students to financial accounting, the accounting cycle, fundamental accounting concepts for business transactions, and preparing and analyzing financial statements. Yet a 40-page financial statement comprises five pages of numbers and 35 pages of words!

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How the Inflation Reduction Act Impacts Corporate AMT and Bonus Depreciation

CPA Practice

Unless the IRS specifies otherwise, it remains an applicable corporation.  The new corporate AMT applies a 15 percent tax to a company’s  adjusted financial statement income  (AFSI). He is responsible for Bloomberg Tax & Accounting’s corporate tax products, including Fixed Assets.

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The cost of statutory reporting errors and the need for ESG integration

ThomsonReuters

Thomson Reuters and SAP Drive operational efficiency and tackle crucial tax challenges Read More Benefits of integrating ESG reporting into statutory reporting processes In addition to financial statements, statutory reports can also include information about sustainability or ESG.

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What are APIs and how can they streamline tax provision calculations?

ThomsonReuters

Tax teams prepare tax provisions by gathering data, performing calculations, and entering the results into forms. However, corporate tax teams find it difficult to automate this process. appeared first on Tax & Accounting Blog Posts by Thomson Reuters. What are APIs and how do they work?

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Friday Footnotes: Ex-CPA Leaves Clients in the Lurch Before Tax Day; EY Layoffs; More ERC Concerns | 4.12.24

Going Concern

electric carmaker Tesla, has failed to properly reflect fines in its financial statements and was issued a “qualified opinion” from an accounting firm on April 10. billion won in corporate taxes, but its management team recorded the amount as a receivable in its financial statements.

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