Accounting for Income Taxes Demonstration

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Accounting for Income Taxes Demonstration
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Thanks for the video, super simple to understand!

ple
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Taxes are one of the largest business and personal expenses, so it's very important to properly account for these amounts.

InstTaxSolutionsLLC
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Poweful explanations to listening to I R. S; just need all the revenues that business coollected. They even want to kow the expenses that made for that business. As for acccount pable. We all know It is a liability account That account payable have to pay all the money they Owed I. R s. Professor theforms are aviable to I .R. S. they have form 6252. Form 8949 to work with I. R. S.to show all the transations that went through that business. This is the defination of income tax is what is paid by individuals base on how much money they earned for the year, how they Earned it, and The amount Of deduction differents forms are required for different income and deductions for example schedule c is identify business expenses and form for self employed income. Wonderful expkabation professor

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