Business misc Study guides, Class notes & Summaries

HRB-27 Final Exam Review (H&R Block Ch 27 Final Exam Review) with Correct Answers What income reporting form should an independent contractor sometimes receive from the person who paid him for his services? - Answer ️️ -Form 1099-MISC (15.6) Schedule C, Line F asks for the accounting method used in the business. What is the difference between the cash method and the accrual method of accounting? - Answer ️️ -• Under the accrual method, total sales and total charges for services ...

New York State Property and Casualty Insurance Exam Latest Version Already Passed Physical damage coverage under a garage policy is a blanket limit for covered auto, an accurate statement? Yes; The dealer's physical damage limit would be done on a blanket limit basis. This would apply to comprehensive and collision losses to the auto inventory of the dealer. This is done because it is simply not practical to schedule each dealer owned vehicle for physical damage. This is generally ac...

CPSI Registration Exam 98 Questions with Verified Answers How do you know if a a number on a profile is a SSN or a profile number? - CORRECT ANSWER SSN starts with a 0 followed by 8 digits, profile number starts with a 1. What are the marital status codes? - CORRECT ANSWER M=married, D=divorced, s=single, W=widowed, X=separated, P=life partner What are the possibilities for the first character of a financial class? - CORRECT ANSWER B=blue cross, M=medicare, X=medicaid, W=workman's comp...

What income reporting form should an independent contractor sometimes receive from the person who paid him for his services? - ANSWERSForm 1099-MISC (15.6) Schedule C, Line F asks for the accounting method used in the business. What is the difference between the cash method and the accrual method of accounting? - ANSWERS• Under the accrual method, total sales and total charges for services are included in income even though payment may be received in another tax year. • Under the cash m...

What income reporting form should an independent contractor sometimes receive from the person who paid him for his services? - correct answer Form 1099-MISC (15.6) Schedule C, Line F asks for the accounting method used in the business. What is the difference between the cash method and the accrual method of accounting? - correct answer • Under the accrual method, total sales and total charges for services are included in income even though payment may be received in another tax year. • ...

What income reporting form should an independent contractor sometimes receive from the person who paid him for his services? - ANSWERSForm 1099-MISC (15.6) Schedule C, Line F asks for the accounting method used in the business. What is the difference between the cash method and the accrual method of accounting? - ANSWERS• Under the accrual method, total sales and total charges for services are included in income even though payment may be received in another tax year. • Under the cash m...

Disclosure of taxpayer information to other is permissible under 3 ways: - correct answer 1. computer processing 2. peer review process 3. Through an administrative order. Itemized deductions not limited to limitation: GIMIC - correct answer Gambling losses (to the extent of gambling winnings) 2. Investment Interest expense 3. Medical Expenses 4. Casualt Losses (non-business) non-deductible taxes - correct answer Federal Income Taxes 2. Inheritance tax 3. Business Taxes (deductible o...

What income reporting form should an independent contractor sometimes receive from the person who paid him for his services? - Form 1099-MISC (15.6) Schedule C, Line F asks for the accounting method used in the business. What is the difference between the cash method and the accrual method of accounting? - • Under the accrual method, total sales and total charges for services are included in income even though payment may be received in another tax year. • Under the cash method, only in...

Fundamental Payroll Certification 88 Questions with Verified Answers Spring 2023 2 separate w-3's - CORRECT ANSWER Form 1096 1 consolidated Form w-3 Form 8279 2 separate w-3's general valuation rule - CORRECT ANSWER actual market value actual cash value general valuation rule implied benefit rule employee - CORRECT ANSWER Independent contractor w-4 exempt employee exempt from FLSA $150 - CORRECT ANSWER $0 $150 $165 $210 written authorization -...

What income reporting form should an independent contractor sometimes receive from the person who paid him for his services? - Form 1099-MISC (15.6) Schedule C, Line F asks for the accounting method used in the business. What is the difference between the cash method and the accrual method of accounting? - • Under the accrual method, total sales and total charges for services are included in income even though payment may be received in another tax year. • Under the cash method, only i...