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How do California calculate tax?
Need to specify property, income, state sales or. . . .
If you owned your property prior to marriage will your ex be entitled to any part of it after a 6 month marriage?
No, community property refers only to that property that is gained during the marriage. However, if you use community property or income earned during the marriage to continue mortgage payments, to improve, etc, then a portion of it does become community property.
How do you calculate income from subsidiary under the Equity Method?
Look at the financials for the sub's reported income. Multiply that number by the percentage of ownership by the parent. Calculate your adjustments to bring the subs accounts to fair value, and add or subtract them as needed from the parent's share. This number will be the income from sub. Ex: Sub's reported income: 3,000,000 Parents share 30%: 900,000 Disposal of Fair Value Adjustments Inventory: (300,000) OCA: 60,000 Equipment: (45,000) Notes Pay.: (12,000) Income From Sub : 900,000 - 300,000 + 60,000 - 45,000 - 12,000 = 603,000
Adjustments for accrued income always involve a credit to an income account?
True
Gross income minus any adjustments deductions and exemptions is?
taxable income :)
What is gross income minus any adjustments deductions and exemptions?
taxable income :)
Is Kentucky considered a community property state?
Kansas is not a community property state. There's a list of community property states on the About.com Web site. There's also a discussion of community property and how it relates to reporting income from the IRS in Publication 555. Sources: http://taxes.about.com/od/taxglossary/g/CommunityProper.htm http://www.irs.gov/publications/p555/index.html
All taxable income less IRS allowable adjustments to income is called?
Adjusted gross income
Do Prior period adjustments to income are reported in the current year's income statement?
false
Is money earned from a portfolio of stocks owned before a marriage considered community property?
In community property states there are exceptions to the general rule that items are classified as community property. The following are the most common types of assets that are exceptions to the community property rule: * Assets acquired before marriage * Assets acquired as a personal gift * Assets acquired through inheritance So the stock portfolio and the income derived from it is separate property until you actively do something to make it community.
How does one go about paying US income tax on overseas property?
One must only pay US income tax on overseas property that generates income. If this is the case, one will report the income on IRS Form 1040 to calculate the tax. If one also pays taxes on this property to a foreign country, this cost can be deducted from the amount owed to the IRS.
How you Calculate Provision for Income tax?
how to calculate provison for income tax
