enow.com Web Search

Search results

  1. Results from the WOW.Com Content Network
  2. Formulary apportionment - Wikipedia

    en.wikipedia.org/wiki/Formulary_apportionment

    Compliance costs would be much higher unless all jurisdictions adopted a common method of calculating taxable profits. Otherwise a separate calculation of worldwide group profits would be required under each jurisdiction's tax accounting rules. The issue is significantly reduced within the United States and Canada because variations among each ...

  3. Tax accounting in the United States - Wikipedia

    en.wikipedia.org/wiki/Tax_accounting_in_the...

    This is different from changing a tax accounting method under the release of the IRS because, in the case of adopting another method, the IRS may assess fines and reallocate taxable income. If the taxpayer wants to return to the previous method, the taxpayer must ask for permission from the IRS, following the 446(e) procedure.

  4. MACRS - Wikipedia

    en.wikipedia.org/wiki/MACRS

    Special rules apply for pro rating deductions for short tax years and for the first year of business, or where more than 40% of tangible personal property additions are in the final quarter of the year. [5] The method and life used in depreciating an asset is an accounting method, change of which requires IRS approval. [6]

  5. Adjusted basis - Wikipedia

    en.wikipedia.org/wiki/Adjusted_basis

    In tax accounting, adjusted basis is the net cost of an asset after adjusting for various tax-related items. [1] Adjusted Basis or Adjusted Tax Basis refers to the original cost or other basis of property, reduced by depreciation deductions and increased by capital expenditures. Example: Muhammad buys a lot for $100,000. He then erects a retail ...

  6. Tax basis - Wikipedia

    en.wikipedia.org/wiki/Tax_basis

    Tax basis of property received by a U.S. person by gift is the donor's tax basis of the property. If the fair market value of the property exceeded this tax basis and the donor paid gift tax, the tax basis is increased by the gift tax. This adjustment applies only if the recipient sells the property at a gain. [7]

  7. All-events test - Wikipedia

    en.wikipedia.org/wiki/All-events_test

    Taxpayers are put on cash method of accounting in those instances where payment precedes performance or due date of an obligation. [6] This is called the earlier of test. This violates traditional accrual method recognition of income and is an exception to the all-events test because the right to income is not yet fixed.

  8. AOL Mail

    mail.aol.com

    Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!

  9. Tax deduction - Wikipedia

    en.wikipedia.org/wiki/Tax_deduction

    The method used for this is commonly referred to as an accounting method. Accounting methods for tax purposes may differ from applicable GAAP . Examples include timing of recognition of cost recovery deductions (e.g., depreciation), current expensing of otherwise capitalizable costs of intangibles, [ 17 ] and rules related to costs that should ...