PPT-Income Taxes

Presented by Robert Schwarzmann and Adam Polakov 1 Agenda Tax Landscape Accounting for Income Taxes Basics of Accruing Income Tax Expense Deferred Taxes ASC 740 Footnote Disclosures and Valuation Allowance. TOTAL Expenses US . International . Tax Framework and Structuring Foreign Operations. PwC. Module Objectives. Upon completion of this module, participants will (be able to):. Describe the basic principles of US taxation of US multinationals with foreign activities and foreign multinationals with US activities. What is a Budget?. A plan for spending and saving money. Most people think budgets are:. Rigid and inflexible. Painful – who wants to eat Top Ramen every night!. No fun!. A budget takes the fun out of money – Mason Cooley. 1. How much tax did you pay at each income level?. Total Taxes Paid. Total Earnings Before Taxes. 2. Did you think the average tax would increase, decrease or stay the same?. What do the data show us?. (Master PPD & APE, Paris School of Economics). Thomas . Piketty. Academic year 2013-2014 . Lecture 1: Taxes & transfers: . why & how much?. (October 1. st. 2013). . (check . on line. for updated versions). Falling Behind. Staying Even. My income is going up faster than cost of living. Source: AFL-CIO Election Night Survey. 54%. 33%. 8%. . Public’s Agenda For Congress. Support for Proposals Next Congress Might Consider. The . Global Evidence. Frank J. . Chaloupka. , University of Illinois at . Chicago. Tobacco Taxation: Win-Win for Public Health & Resource Mobilization. World Bank, Washington DC, 18 . April 2017. Learning Objectives. Describe the primary types of state and local taxes.. Determine whether a business has sales and use tax nexus and calculate its sales tax withholding responsibilities.. Identify whether a business has income tax nexus and determine its state income tax liabilities.. DETROIT . TEI. CONFERENCE. JUNE 5, 2013. Notice. ANY TAX ADVICE IN THIS COMMUNICATION IS NOT INTENDED OR WRITTEN BY KPMG TO BE USED, AND CANNOT BE USED, BY A CLIENT OR ANY OTHER PERSON OR ENTITY FOR THE PURPOSE OF (. 2018 Income Taxes: Federal & Oklahoma The difference between death and taxes is death doesn’t get worse every time Congress meets . – Will Rogers J C. Hobbs Associate Extension Specialist Agricultural Economics Department Preparing Taxes Personal Income Facts in the U.S. The U.S. tax code contains more than 3.7 million words and is more than 70,000 pages in length. Americans spend 7.6 billion hours every year preparing taxes – an average of about 25 hours per person. Taxes. Frustration over taxes is what led American colonists to go to war against and declare independence. As citizens of the US, we authorize the government, through the Constitution and our elected representatives in Congress, to raise money in the form of taxes. Learning Objectives. Describe the primary types of state and local taxes.. Determine whether a business has sales and use tax nexus and calculate its sales tax withholding responsibilities.. Identify whether a business has income tax nexus and determine its state income tax liabilities.. This is the Story of. Tim ‘The Tool Man’ Taylor. After 20 years working for the ABC Construction Co, Tim decides to open his own home remodeling business. So Tim Does All the ‘Normal’ Things:.