Description:

This book is for preparing 2023 taxes. Preparing a business entity tax return requires knowledge in both tax law and its application. This course covers a variety of topics such as entity structure; how to properly record and report the business activity in the books and records, and on the tax return; differentiate between assets that are expensed and those that need to be capitalized and depreciated; and determine what is included in income and which expenses are deductible. Finally, the text will walk you through line-by-line procedures for a basic tax return for partnerships, S corporations and C corporations.

Topics include:

• Summarizing basic bookkeeping procedures
• Distinguishing between taxable and nontaxable income, and deductible and nondeductible expenses
• Differentiating between capital assets and expendable repairs
• Summarizing the differences between MACRS, §179 and bonus depreciation
• Comparing and contrasting the various entity structures
• Summarizing the tax effects of forming a partnership, S corporation and C corporation
• Preparing a basic partnership, S corporation and C corporation tax return

Product Details:

Item Number: 23319

Level: Basic

Authors: NATP Staff

Published: 2023

Format: Print - 452 pages

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Corresponding CPE Courses:

Get the e-book FREE when you purchase the corresponding 2023 course.