Thank you prof.

@AccountingLectures

Жыл бұрын

Thank you and please visit the website for more farhatlectures.com/

I am confused. So is a tax return for an entity basically a cash basis ? Accrual books to tax cash -?

Good one.

@AccountingLectures

Жыл бұрын

Thank you and please visit the website for more farhatlectures.com/

But capital losses can be adjusted up to $3000 with net income. Right?

@popopopo5339

11 ай бұрын

$3000 is for individuals, not for corporations. Corporations are not allowed to deduct this $3000

thank u

@AccountingLectures

Жыл бұрын

Thank you and please visit the website for more farhatlectures.com/

Very useful

@AccountingLectures

14 күн бұрын

Most welcome. Please check my website for more. Start your free trial : farhatlectures.com/

please explain for 1065 also

I wonder why GAAP is not in line with the IRS when it comes to income reporting , deductions ect. This would negate all of this I think unnecessary accounting. Really enjoy your videos though. As an accounting student its helping me out tremendously.

@headlibrarian1996

6 ай бұрын

Sure, but the government wants you to fill out this junk form even if you keep books in tax form rather than GAAP. Really burns non-public corporations who generally don’t bother with GAAP.