Thank you, I was doing it wrong at first but after watching your videos, I got my accountants thumbs up.
@ClaraCFO3 ай бұрын
fantastic!
@BardenAccounting2 ай бұрын
THANK YOU! I find your videos about tax entities and keeping things straight for tax purposes to be well thought out and easy to understand. Keep up the good work. I have a client who is a C-Corp. Can you make some clarification videos about C-Corp tax payments?
@HamidurRahman3 ай бұрын
Thanks for a such tutorials , Pease share more about tax session, tax payment system & more related using QuickBooks
@ClaraCFO3 ай бұрын
glad this is helpful!
@Vgb_ali_officialАй бұрын
can you make a video with Trust>holding corp > subs) with examples of contracts between them.. I don't understand how they are linked together
@proposability2 ай бұрын
If there are penalties and interest charges for late filings (particularly on federal income tax) should/can the business reimburse the owner and take that portion as an expense? Or does that become the responsibility of the owner?
@MiteshMaster3 ай бұрын
I want to set aside some money for some local business taxes. I don't need to pay quarterly estimated taxes for these through the year, but setting it aside either monthly or quarterly means I don't have to worry when I assess my liability upon filing. I'm not sure how to show this on the balance sheet. Do you have a quick recommendation of how to account for this?
@BevG_CT3 ай бұрын
OK been expensing the owners estimated tax pymts all these years and CPAs never let me know? What about the CPA fees associated with preparing the associated taxes, should those go to Owner Distribution/taxes or a company expense? Thanks!
@ruvimg3 ай бұрын
That’s not good… you should let your cpa know
@ruvimg3 ай бұрын
If its associated with business its an expense
@ClaraCFO3 ай бұрын
your CPA has probably seen it and removed that from the pretax profit when doing your taxes, but it gives you as the owner a false sense of what your real profit is. Tax preparation fees are an expense, but only the business portion. So you if you are an S-corp, the S-corp tax return prep fee is deductible, the personal tax return is not. However, most owners will put all the tax prep fees as a business expense....it's up to you on your risk tolerance if you are willing to put your personal tax return fees in there as well.
@ruvimg3 ай бұрын
@@ClaraCFO hopefully the cpa does do that… i have seen a few make some terrible mistakes and blame it on the client or the bookkeeper. Never hurts to let the CPA know