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While mainly students are aware that accountants frequently assist their clients with tax returns and other tax issues, few are aware of the large number of diverse and challenging careers available in the field of taxation. The majority public accounting firms, ranging from the "Big 4" international firms to the sole practitioner generate a significant portion of their fees through tax compliance planning and consulting. With more than 155 million individual tax returns filed in the US every year it isn't surprising that many individuals and most businesses need assistance in dealing with the incredibly complex US and international tax laws. This complexity also provides tremendous tax planning opportunities. Since a tax specialist you will demonstrate individual clients how to reduce their taxes while simultaneously helping them make decisions about buying a house, investing, funding their children's education and planning their retirement. Intended for your business clients careful planning and structuring of business investments and transactions can save millions of dollars in taxes. Actually it is safe to say that very few significant business transactions take place without the careful guidance of a tax specialist.
Q. What is Timeliness? The Timeliness requires accountants to provide accounting information at a time when it perhaps considered in reaching a decision. Usefulness of informat
Q. Describe about accounting. Why is it called language of business? Accounting is known as -an art of recording, classifying and summarizing transactions and events in a si
Explain the types of Financial Statements Income Statement . This is a summary of a business's expenses and revenue for a specific period of time. It ONLY shows expenses and r
Rosco Company purchased 35,000 shares of common stock of Paxton Corporation as a long term investment for $900,000. During the year, Paxton Corporation reported net income of $300,
A firm's __________ account is categorized as a current asset. A. equipment B. accounts payable C. bonds payable D. merchandise inventory
I purchased equipment for 3,000 but only paid 1,000 of it and put rest of it on an account. how would I put that into a asset=liabilities+ owns equity equation?
How do I complete this chart
Which error will cause a trial balance not to balance? A an invoice entered as a credit note on original input. B a journal entry that does not balance. C a transaction entere
80 - 20 rule - A common rule of thumb in business which says that 20% of the items produce80% of the action -- 20% of product line produces 80% of the sales, 20 percent of thecusto
COMMON ADJUSTMENTS AFFECTING THE PREPARATION OF BALANCE SHEET ARE: 1. Closing stock : Closing stock come into view on the credit side of trading account and assets side of
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