Income Statement Preparation I was provided the following information and would like to know how I can figure out the Income taxes (30% of income before taxes) Accounts Payable: 35,000 Accounts Receivable: 65,000 Advertising Expense: 15,000 Cash: 19,500 Supplies Expense: 46,000 Rent...

Hi, I have a query: I am planning to live in NJ but work in NY with a company incorporated in NJ. 1. What state taxes will I pay? 2. I have heard that both states will deduct personal income tax 3. Do I have to tell my employer something in advance to help reduce double taxation.

There's a lot of trash being talked here and elsewhere these days about how income and wealth are distributed among the US populace, how these distributions are changing, what is causing these changes, and whether those changes are benign or malevolent. Beyond that lie the questions of whether,...

I am doing a 10 column worksheet and I have a credit $ amount in the Income Summary account in the Adjusted Trial Balance. Do I move that to the Income Statement or the Balance Sheet section of the worksheet?

I collect SS, withdraw interest income monthly and sell real estate. I am wondering since my interest income & real estate commissions exceed the SS allowable income cap of $12,000 will my SS for the next year be reduced? Will my real estate expenses be deductible from taxes owed on my...