Corporate Tax Returns

How do i get a job doing corporate tax returns?
Hi, thank you for looking into my quesion, I recently finished my income tax course and have received my certification. I need some advice as to where to apply for a job? I also would like to get into doing corporate tax returns in the long run, any ideas?Thank you....

v b:Study to become an enrolled agent?... More...

What is a good software program to use for doing Corporate tax returns with multiple state returns?
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Help on Corporate Tax Returns??? Any tax accountants anywhere???
Can anyone give me help or links on corporate tax returns...break down of its concepts and maybe a line per line summary of how each works. I'm starting a new job soon regarding corporate tax returns for a CPA firm, so if anyone out there are tax accountants responsible for corporate tax returns, please could you give me some tips on what to focus on and what I should really study before I start??? THanks I'm actually gonna work for a Big 4 firm so chances are their clientele's worth are in the ...

Info@bcbsinc.com:http://www.irs.gov If you type in lets say 2006 Form 1120 which is a Corporate Tax Return, or if you type in lets say 2006 Form 1120S for example, which is a S-Corporation tax return, there will be many links and such for these matters. You will never find a better site than revenues for these ma... More...

Do I have to file a corporate tax return?
Hi. I incorporated a new business in Ontario early November of this year. I'd like to know whether I have to file a corporate income tax return for this year? The fiscal year ends Dec 31. Thanks for your help....

T E:Yes, you need to file the corporate tax return within 6 months after your chosen first fiscal year end of december 31. Find below are the references: http://www.cra-arc.gc.ca/tx/bsnss/tpcs/crprtns/rtrn/whn/menu-eng.html http://www.gov.on.ca/GOPSP/en/graphics/251006.htm... More...

Corporate Tax return ... how much does it cost & how long will it take?
Tax return had been prepared in the past by my father who was involved with the business (ins agency, 2 employees) .He is no longer working here, and in figuring out future cots, I am curious as to the cost to have our corporate tax return prepared each year and how long does it take to have it done. Thanks....

Rene F:This question is impossible to answer with any degree of accuracy. There are just too many variable. Unless your father is an accountant, I would guess that the return is not extremely complex, but the cost would vary depending on where you're located, whether you employ a CPA or just a tax prepar... More...

What type of tax returns are required for a non-profit corporation that doesn't have 501(c)(3) status?
To limit liability, I have suggested that a group with which I am involved register with the state as a non-profit corporation. Going through the complications of 501(c)(3) status isn't important for us. We don't have employees, or any assets other than, potentially, a bank account. The main objection is that we would have to file a tax return. I doubt this would be terribly involved. I can't get an answer on what type of tax return we would need to use. Would we use one for a regular corpora...

porkchop:Do your donors know that they aren't contributing to a 501(c)(3)? They can't deduct their charitable contributions to you on their tax returns. Organizations with gross receipts less than $25,000 annually are not required to file an annual return. But that only applies if you ARE a 501(c)(3). Ma... More...

Do payroll taxes affect Form 1120 on a corporate tax return?
I am working on my first corporate tax return and recorded payroll taxes paid for the year while doing their bookkeeping. From preparing the tax return, it appears that payroll taxes do not go on the form 1120. Is this true? And if so or not, please explain. No estimated taxes were recorded for that year only payroll taxes. Please help????...

l1:Payroll taxes are paid both by the employer and the employee. The portion paid by the employee is basically deducted as salary - These are your FICA and Medicare taxes on your paystub. But, the portion paid by the employer is deducted on the 1120.... More...

How much to bookkeepers charge to prepare a corporate tax return on the average in the Cleveland, OH area?
So, what is fair to pay someone to do this?...

Mark S:You don't need a CPA to prepare a corporate tax return. You need a person that is trained in income taxes. A CPA is only needed to certify and audit financial statements. Many CPAs don't even do tax returns. You wouldn't use a bookkeeper to do this either unless he were a trained tax preparer.... More...

How much does a corporate tax return typically cost?
I'm just talking about the prepartion of the return. thanks...

hirebookkeeper:My CPA charged $425.00 for my small electrical contracting company, first year in business.... More...

In a community property state, does a wife have a kegal right to see a husband's corporate tax return?
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giraffesdrinkingcoffee:Well, couldn't that depend upon whether the wife is also part owner of the corporation? Also, if she's divorcing him, I think she could subpoena those records to resolve financial issues for the split.... More...

Can I cash a corporate Tax Return check with personnal account I am the only owner of company?
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NYS Dept of Tax said I did not file corporate tax return?
The notice I received from NYS said tax payer ID is TF-( and 7 digits). Does this mean the corporation has to apply for EIN# with IRS and then file forms retroactively.?...

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Any corporate tax accountants, do you have a filled-out fictitious form 1120??? Help on corporate tax??
Hello everyone, if anyone out there has any kind of fictional 1120 corporate tax return, could you send me a link or anything really since I'm starting a new job at a Big 4 CPA firm as a tax associate...I only really have 2 tax classes as a background and no work background at all, that's it. I was hoping that the example could shed me some light into this matter.......just let me know. I appreciate ANY help!!...

PepsiLime:I don't have a fictional 1120 but could provide help to you with any questions that you might have in regards to it.... More...

can you file a corporate tax return later then september 15th?
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paratrooper:if your corporation is due or ends like mine in march31 with three months to file. but if yours started in Jan. you can't change it. P.S. your tax person can file delayed return for a long time, but the catch is you have to pay estimated to not be fined. and they fine for everything. good luck!... More...

On line 18 of the U.S. corporate income tax return which interest expense do i report?
What interest expense is used. I have interest expense for $10,000 from a loan to purchase state of arizona bonds and I have interest expense of $17,400 from other business loans. Do I add these up and include them in line 18 of the tax return or do I use one or the other. I would really appreciate any help on this. Thanks in advance....

tma:If the interest income from the bonds is tax-exempt, then you would not be able to deduct the interest expense. Otherwise, I believe you can deduct the interest expense in full on line 18. http://www.irs.gov/pub/irs-pdf/i1120_a.pdf see page 9... More...

Corporate tax return question?
My accountant accidentally put my old address on my corporate return (small business but I am an INC.). He told me that I could white out the old address and correct it. I moved just doen the street so the street, city, state and zip are the same, just the number changed. I did that for the first page of the return but he has a copy of the extension he filed in there with the old address. Should I change it on that as well? Should I change it everywhere in the return?...

Mr Tax Preparer:If the return has not yet been filed but has only been prepared and printed, just correct the address on Page 1 of the 1120 (or 1120S, if an S-corp) and make sure you check Box 4 for "Address Change." That will ensure that your address is updated and will override the extension that was filed previ... More...

In a community property state, does a wife have a legal right to see a husband's corporate tax return?
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crystal89431:Not if it's incorporated with out you in the corporation.... More...

Amend Corporate Income Tax Return?
Can you ammend a previously filed corporate income tax return? if yes how?...

PepsiLime:certainly. Amended and Superseding Corporate Returns - Revised 07-26-07 As of February 14, 2007, the MeF system processes both superseding and amended returns. Amended and superseding returns for Form 1120 and 1120S will be accepted for the 2005 tax year and forward. Beginning with 2006 retur... More...

I work for an accountant who is good, ive done tax preparation, books,office work ,how much should i be paid.
I make 5.85 an hour and i ve done corporate tax returns for 700-900 dollars each time, all my boss has to do is print them out. I was wandering how much other compaies pay in different parts of the country....

Soror Kate ART VT:I work for H&R Block, have similar experience, and currently make between $9 and $13 per hour, depending on the work I'm doing at the time. H&R Block has a great pay structure, and in most place you'd start out at more than you're making now. Check to see if there's a Basic Tax Class in your area,... More...

I joined a band last year, can I deduct expenses on my tax return as a subcontractor?
Will the band have to have a corporate tax return to fully realize the above question?...

p_michael_childers:You should really, REALLY, talk to an accountant about this. The answer is going to depend on whether or not the band has formally organized and, if so, what form of organization (i.e., S corp, corporation, LLC) it is. Further, you'll have to look at how your income from the band is derived, wheth... More...

Amount a corporation can write off on corporate lease?
Is it true a company can only write off 100% of their lease payments on a corporate equipment lease of $200,000 or less?? Is so what if the company has a $500,000 IT equipment lease, how much of the total annual lease payments can be wrote off on corporate tax returns?...

Nick:i drought that there is a company leasing $500,000.00 dollars in the Television Ads i see toyota giving commercials to the Corolla which is leasing about $50,000.00 dollars back when you lease or something check out the site that you are talking about would be good in my opinion.... More...

NJ Corporate Tax Return - Min Tax?
I opened a corporation in April 2006. That's basically all. I also applied for and got an EIN. The corporation has not made any business transactions or activity to date. In NJ, I know it is required to file form CBT-100. My question is, does the minimum tax of $500 apply if the business has not conducted any business? Does this minimum tax mean that $500 have to be paid with the return? or is this the minimum taxable income? Thanks!...

aku_aku78:Yes, you owe the minimum tax. That is one of the many downsides to doing business in NJ. I've provided the link to the nj div of taxation website that has the instructions for filing your CBT-100. Page six of that publication refers to new businesses. Good luck.... More...

Corporate Canada: Do you still file tax return when the corporation is dissolved?
I registered a corporation a year ago and I just dissolved it. Do I still need to file tax return? Thanks....

Kenneth Keung:You need to file a corporate tax return (T2) for the year ending on the date of dissolution. For example, if you incorporated on August 1, 2006, and dissolved on September 30, 2007. You need to file a return from 8/1/06 to 7/31/07, and another one from 8/1/07 to 9/30/07. Mark on the last return... More...

Bureau of Internal Revenue of the Philippines- i want to get Corporate annual income tax return form?
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igi:call them... More...

Can my husband claim me on his tax returns, especially since I'm a homemaker/unemployed?
My husband & I got married in 2004 but were told by someone that it did not matter if he claimed me since I have no income. I am basically a homemaker since I am not employed. And since we have no children, I help my husband & his family with their business. Because the business they own is corporate, their 2005 tax filing has been extended and still under process right now. I was NOT claimed on my husband's 2004 tax returns but does it really matter? Thanx with all the help! Now I'm going ...

pusherhombre:You are his wife, not his dependent. Regardless, you still get the same exemption amounts and his income will be subject to lower tax rates when he puts your name on his return and files Married Filing Joint. His 2004 return should be amended for a change in filing status because you were married i... More...

Is there a book or a website that explains advanced tax returns?
I'm a mortgage banker whom has been working with a lot of high networth clients whom tend to be business owners and real estate investors that have very complicated tax returns. I'm looking for a book/guide that will help me become an expert on the them. I understand the schedule E's and the transfers from the corporate Schedule K's to the personal is supposed to be the only income I can use plus adding back the deprecation (the basics) , but I'm looking to get very savvy with this and was loo...

skip:Actually, I don't think you're asking a tax question. What you are really asking, I think, is how to determine the quality of one's income so that you can convince the underwriter to give a better rate or higher loan to your clients. So I'm with Judy on this one. A course at a tax prep shop isn't... More...

In UK Corporate Tax what are Case I losses?
Im trying to fill out a CT600 short tax return form. Can't get ICTA 1988 online so I cant look directly at s393....

guido74:Case I losses are from the trade itself (ie as opposed to investment income, capital gains etc).... More...

Are my S-corp Distributions supposed to be taxed on my personal tax return?
My tax guy and myself had a parting of the ways. He already did my corporate tax return, but I am doing my personal one. I've been using one of the websites for tax preparation and all is pretty easy and simple. I worked for a company for half a year and then went into business on my own so I have 2 w-2's, plus my K-1. So here's my problem....the software shows me getting back 6500 just from my two w-2's. On another schedule I'm asked to enter my distributions which is line 16 on the k-1. ...

Jo Blo:Amounts on line 16 of the K1 would be A tax exempt interest income B other tax exempt income C nondeductible expenses D property distributions E repayment of loans from shareholders look at page 12 of these instructions to see what if any would be taxable from line 16 http://www.irs.gov/pub/irs-p... More...

how to calculate income based on business tax return?
I'm applying for home mortgage and trying to calculate my income based on corporate tax return... problem is I have too many deductions.. my total income (line 11) is 390 K. but my taxable income (after deduction-- repairs, rents, taxes, licenses, interest, depreciation) is only $ 82 K So if I apply for loan do they look at total income or income after deduction?? any info would be great.....

Mother Bear:They look at it all, but you have debts almost 75% of your income is going to debts already. Your income/debt ratio is too high.... More...

Does tax work bring any value to my resume for obtaining an investment banking internship?
I am currently working in taxes, doing corporate and individual tax returns. Does my current job add any value to my resume when I apply for an investment banking internship? If not, what can I do to enhance my resume, in hope of landing an ibanking internship?...

MoneyNevrSleeps:Not to offend, but don't listen to the first answer. It may help you if you're volunteering at a hospital, but for an I-banking job will throw you under the bus. I find it's best to be honest when it comes to the cut-through world of being an I-banker, so without further delay... Fact is, you can't... More...

How/where can I find CPAs who can do tax returns for Stock Day Traders(Mark to Market) at a reasonable fee?
I asked several CPAs in the RENO,NV area and they all say "sure I can do that" only to find out soon that they bungle the return and don't know what "Mark to Market" is all about. The few large corporate CPAs ask a fortune to prepare a return....

Soror Kate ART VT:H&R Block can do those types of returns. Just ensure that you call ahead and make an appointment. Let the preparer know ahead of time what you have so that you can be placed with the most qualified professional. Edit: In response to the person below me: I work for H&R Block, and I know what Mark to ... More...

Should corporate tax on "net profit" that is returned to US investors be cut to zero and let investors pay tax?
... pay tax on it as ordinary income at their bracket rate? TS : Yes. A credit. T S : but the investor then pays the tax as ordinary income at his/her tax bracket rate. don : Then thay would be a "no" from you? bmoc : But not as ordinary income. bmoc : But not as ordinary income....

T S:So dividends are a write off for the corporation and the investor gets a larger dividend. Sounds good to me.... More...

Are there any software packages for Canadian corporate taxes?
My company is in its early stages and I would like to do my own corporate taxes. I live in Canada, is there any software I can use to create my tax return for my incorporated company?...

Ontario CGA:http://www.quicktax.intuit.ca/en/product/ProductDetail.jsp;jsessionid=O0LGDOYKQTSGNQFIAMPCFFA?menuLevel=118300003&skuId=T07P06W4072CN&prodId=118300003 QuickTax has an incorporated business package for $100. QuickTax is an Intuit product, and Intuit is the provider of Profile professional tax softwa... More...

Must I do the Balance Sheet, Etc on a Corporate Return?
I am doing a corporate return on TurboTax and it is telling me I have the option of filing a balance sheet and some additional forms, but I am not required to. This is my first time doing corporate tax returns and up until now, my accountant has always done the balance sheet and those other forms. My question is should I go ahead and do these additional forms if the following is the case: - Corporation was dissolved on last day of its fiscal 2007 year making this its last return(other than a ...

Ken B:Schedule L is normally required to be completed. However, if this is truly your final tax year (see my other response to your other question on exiting states on final tax year) then you should be able to simply put in the beginning balance sheet figures from your ending balance sheet figures off o... More...

Neo-cons, do you still think corporate America is paying their fair share?
WASHINGTON - Two-thirds of U.S. corporations paid no federal income taxes between 1998 and 2005, according to a new report from Congress. The study by the Government Accountability Office, expected to be released Tuesday, said about 68 percent of foreign companies doing business in the U.S. avoided corporate taxes over the same period. Collectively, the companies reported trillions of dollars in sales, according to GAO's estimate. "It's shameful that so many corporations make big profits and ...

thc451:I heard that too. They're not paying. What do you expect from a Republican administration? The whole system is being manipulated with such byzantine complexity that the extent of the crime may never be exposed- particularly before they relocate over seas.... More...

tax deduction for charity?
hello can i give used clothes to a charity organizatiion, but outside usa? and can i deduct the total value in the personal tax returns? they will give me a receipt or can i deduct this charity expenses (for clothes) in the corporate tax return? thanks hello how can i check if the charity organization is authorized by irs? there is a web site with database ? thanks...

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Why wont Cindy McCAin open her tax returns to the american people when she is running for first lady of USA?
what is she hiding? is it the fact that McCAin campaign gets cheap use of her corporate jets? or even more sinister stuff?...

Paola:She's definitely hiding something. Everyone knows she's rich so that can't be the only thing.... More...

In case of non corporate tax payer for the assessment year 06-07, what is the basis for issue of 143(2) notice?
My gross receipt from civil construction business for the assessment year 06-07 is more than one crore. Net profit returned after interest & salary to partner is less than 5%. I am assessable to tax in the status of partnership firm. The ITO selected the case for scrutiny assessment on the ground that the gross receipt is more than 1 crore & net profit is less than 5%. Is the action of the ITO correct?...

LionRoars:Yes, the ITO is right. The ITO can scrutinise any Return of his choice and he is also not required to mention the reason of selection to the assessee, unless the case is selected u/s.148 or for his belief that income has escaped assessment.... More...

Due date of submitting Income Tax Return for Corporate Sector for the Assessment Year 2006-07?
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Krishna:Income Tax Liability It is proposed to give basic information about Income Tax which every industrialist should know. The intention is only to give an overview, without using any technical jargon. It is obviously advisable to consult an expert, if one is not familiar with the intricacies of the law... More...

Is there a way to find how much a corporation paid in taxes relative to its "income?" More?
there's someone claiming that major corporations pay a "disproportionate" amount of tax - claiming that they pay too much. I know she's wrong, but I can't find a place that shows where a corporate tax return is. I thought they were public record? For instance, GE, Haliburton or something like that....

urbaba61:You can find the financial statements of most publicly traded companies on their web site. The income statement will provide you with information concerning their tax burden. Look on the investor relations page. It is not likely that you will find actual tax returns.... More...

Canadian T2 Corporation Income Tax Return?
If a U.S. corporation has income from doing business in Quebec, does the U.S. corporation have to file a T2 corporate income tax return or do they only need to file a Quebec provincial corporation return? Please provide a link with answer....

cdntaxman:I could not find a link that would explicitly answer your question so I would recommend you call Revenu Quebec and ask them. Calls from Canada and the United States: 1 800 567-4692 Hours of availability: Monday, Tuesday, Thursday and Friday: 8:30 a.m. to 4:30 p.m. Wednesday: 10:00 a.m. to 4:30 p.m.... More...

For corporate taxes, file another extension, or file a return you know will need to be amended?
An LLC I work for filed an extension to turn in their taxes Oct 15. A ton of their stuff is in storage and I expect there is still no way they will be able to file by Wednesday. Is it possible to file a second extension? Or would one submit the 1065s with as much information as possible, and then submit an amended return later? All the returns will show a loss. Thank you!...

bostonianinmo:They can ask for another extension however unless they have an extremely good reason for the added delay it will be denied by the IRS. And given that there is not enough time to act on an extension request, they really need to get off of their lazy backsides and get cracking on the filing. They al... More...

In case of Corporate Assessees freinge benefit tax RETURN is to be filled annualy or quarterly?
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nirmalkumarlenin:FBT return is Annually in form 3b FBT Tax is Quarterly... More...

Formed a corporation but never used it or filed an 1120! Help?
We formed a corporation in 2003 with an attorney. I told my CPA that I had a corporation, and he filed a schedule C for us instead of the Corporate tax return. Now the IRS & the FTB is after us for not paying the $800 yearly AND for not filing a tax return. I was NOT guided properly. Does anyone know if we can dissolve the corporation without having to pay all those back fees, that my CPA should have known how to take care of? Please help me....

Swaminathan P:1) you can sue the attorney, CPA under professional liabilities -- provided that you have a valid agreement specifying their role and responsibilities - liabilities, etc., 2) you cannot escape from the clutches of law - 3) why to blame others - you should also know how to take careoff yourself.... More...

Can I claim money spent on clothes for work on my tax return?
I am self-employed, and am just filling out my first Tax Return. I am not sure what I can put down as expenses, and would really appreciate some advice on this. I work mainly from home, can I use any of my rent, electricity, heating bills? I have a bill pay phone which I use mainly for work, but also personal calls. Can I charge any of this, or would I have to do it call by call (I pay a monthly fee, and never usually go over this, except for business calls from abroad). Can I use expenses on cl...

Tax123:Where self-employed and looking to claim business expenses, the best way to look at it is to thing 'If I was employed and conducting the same function, would I be able to claim the expenses from my employer'? On this basis, clothing and make-up would not be allowed. However the costs of conducting... More...

Who needs a private sector when we have a Clinton make our health-care choices?
Who needs a private sector when we have a Clinton make our health-care choices? The new Hillary health-care plan is very different from the old 1993-1994 Hillary plan. It is far slyer, and far cleverer, far more well-packaged. The same arguments that applied to the old Hillary plan do not necessarily apply to the new plan. But the new health plan ends up in the same place as the old health plan ? with the government running everything. Here are the primary problems with the new Hillary health ...

Brian:Thank God for Mrs. Clinton. She is so much smarter than everyone else. She will take good care of me............... More...

What is TDS, VAT, VAT Returns, What is Exice Duty, Service Tax, Explain Statutory Compaliances briefly?
Management Accounting Includes ? What is the Operating Ratios,Financial Statements, What is Corporate Governence, why and where do we used explain briefly, what are all the Tax implications, What are the Tax Rates explain Briefly...

taxpert:SERVICE TAX ?Service Tax (Determination of Value) Rules, 2006 (Word File) (As amended last amended vide Notification No. 29/2007) New ?Service Tax (Registration of Special Category of Persons) Rules, 2005 (Word File) (As amended last amended vide Notification No. 6/2007-ST dated 1.3.2007) New ?.. More...

do corporations pay their fair share of taxes?
By JENNIFER C. KERR, Associated Press Writer 1 hour, 49 minutes ago WASHINGTON - Two-thirds of U.S. corporations paid no federal income taxes between 1998 and 2005, according to a new report from Congress. The study by the Government Accountability Office, expected to be released Tuesday, said about 68 percent of foreign companies doing business in the U.S. avoided corporate taxes over the same period. Collectively, the companies reported trillions of dollars in sales, according to GAO'...

Heavy Metal Leftist:They don't. Here's but one example. http://www.dollarsandsense.org/blog/2007/02/psst-corporations-dont-pay-taxes.html Damn those liberals who want to tax mom'n'pop shops like McDonald's and Kraft out of existence! Another useful article from Dollars and Sense: http://www.dollarsandsense.org/archive... More...

Who pays Pennsylvania Corporate Loan Tax?
We operate an LLC Partnership and file a federal 1065 informational return. The LLC has a small business loan from a local bank. Would that be considered a Corporate Loan for Pennsylvania Tax purposes?...

Mr Tax Preparer:Hello, Laurence! Limited Liability Companies are indeed liable for Corporate Loan Tax, even though in most other respects they may be treated as partnerships. The first link below is Rev-750, a brochure from the PA Department of Revenue with commonly asked LLC questions. Within that brochure it e... More...

Why is the DNC targeting Cindy McCain's tax returns?
In her interview with TODAY's Ann Curry, Cindy McCain stated that she would not release her tax returns -- even if she becomes first lady. The Democratic National Committee has decided to jump on this, noting how Cindy McCain's wealth has benefited her husband's political career. For example, John McCain -- when his campaign was struggling with money -- was able to use a corporate jet (at a lower cost) owned by a private company headed by Cindy. "John McCain may not like it, but the American...

MrNeutral:It is a matter of national security. Why shouldn't the country know what `could influence the presidency? It is absolutely silly that she doesn't come clean. What is she hiding?... More...