I've created a basic template to get you started here. And I meanbasic—this is for people who essentially just want to convert their Form 1040s into a spreadsheet, so all your yearly info is one accessible, editable location. I've included different tabs depending on what you want to t...
If you have used the Smith Manoeuvre to exchange your non-deductible mortgage interest for tax-deductible investment loan interest, you may be wondering how to report that interest expense on your tax return.Filing Your Smith Manoeuvre Tax Return...
says Johnson, who has adopted the nickname given him by one of his clients and is now known as "the Tax Dude." "When deducting your auto expenses, the most important thing is keeping detailed records of your
If you keep any tenancy deposit for repairs then, as currently, this will be considered income and then whatever you spend on the repair could be considered an allowable expense. As for other types of regular income from a property, it’s not yet clear. There might cases where ongoing roya...
High-income earners understand that their biggest expense during their lifetime is taxes. No one wants to pay more in taxes than they have to, which is why the ultra-wealthy understand how to play the tax game. If you want to take advantage of their tax reduction strategies, then you’...
To make it manageable, I set up a system for adding my expenses into a spreadsheet. Once a week, I review my credit card and checking transactions and a task comment I keep in Todoist on cash expenses and enter each expense into my spreadsheet. I have a weeklyrecurring taskreminding me ...
The “12-month rule” lets you deduct a prepaid future expense in the current year (but there are some rules). You want to pre-pay business expenses in years of high income where the following year is going to be less. To pre-pay just to pre-pay without a plan is flailing. Our ...
There is this misconception that if one has an expense or makes a donation then “it can be claimed back from tax” While to the non-tax literate this may be true in a sense, having expenses or making donations for this purpose only, could actually backfire from a cash flow point of ...
Oracle E-Business Tax - Tax Configuration - relevant Tax Rate - Tax Accounts - Define the Tax expense account for the Non Recoverable Tax to be correctly accounted. Chapter 2 - Basic Tax Configuration - Setting up Tax Accounts. 426055 ZX_JUR_CODE_NOT_EFFECTIVE This Tax Jurisdiction Code not...
Download Template Section 382 Limitation Try Macabacus for freeto accelerate financial modeling in Excel. Under these transaction assumptions, the stock deal appears more favorable to Alpha. However, try increasing the target’s assumed NOLs in the downloadable spreadsheet–you’ll see that the asset...