Need Help?

Comment on my post and ask any question you may have about Quickbooks.  For those who do not know what Quickbooks performs,  please comment on this post by asking, "What is Quickbooks?"  I will be happy to explain!

Computer Day

This weekend we worked on all our computers to get them up and running.  Connecting the computers to the printer and the internet.  Hopefully we will have no problems with them as we go through this upcomming tax season.  We will soon be downloading the latest ProSeries tax onto all of our computers.  We are waiting for ProSeries to finish all their upgrades and then we will download ProSeries 2011!! 

Audit risk model

• Inherent risk
•  Likelihood of error in segment
• Detection risk
•  Risk that the auditor will conclude an error that does not exist when in fact the error does.
•  Control risk
•  Clients internal controls fail to detect an error. 

2010 Property Tax Rates: Districts in Johnson County, IN

	Summary Statistics
	Property Tax Rates in Johnson County	Property Tax Rates in State
Highest	4.1567	6.8587
Lowest	1.3345	0.6143
Median	2.06	1.93

These statistics come from http://www.stats.indiana.edu/taxframe.html

Stock Dividends vs Stock Splits

• Stock Dividends
• Stock Divedends result in more shares being issued as dividend(No cash flow is involved). 
• Small stock dividends involve issues of less than 20%-25% of stock.
• The accounting for small stock dividends is based on the fair market value of stock issued.
• The accounting for large stock dividends(more than 20%-25%) is based on the par value of stock issued.
• Stock Split
• When a stock splits the par value of each share decreases; the number of shares increases.

Review

1. PV of a share
1. Div = does not change
2. Split = PV decreases
2. Total number of shares
1. Div = increases
2. Split = increases
3. Stockholder's Equity
1. Div = Less retained earnings & more of stock 
2. Split = same amount of stock & retained earnings
4. Journal entries required?
1. Div = YES
2. Split = NO

liquor, tobacco, & gasoline tax

Japan has a national liquor tax that is paid by consumers when they purchase alcoholic beverages.  National, prefectural and municipal tobacco tax are paid by consumers when they purchase tobacco products.  A national gasoline tax is paid by consumers when they purchase gasoline.  The liquor, tobacco and gasoline taxes are included in the prices shown by shops.

Big 4 accounting firm RESOURCES!

The big 4 accounting firms have great resources and links that Max S Woodbury, CPA, LLC wants to have in the future.  In the meantime I would like to show you some great resources for your business:
Deloitte & Touche
Ernst & Young
PricewaterhouseCoopers
KPMG

3 Tax Returns After Death

• Estate Tax Return ($5 Million Tax Exemption)
• Inheritance Tax Return
• Fiduciary Income Tax Return

Signtronix

Our new sign came in today.  We will put it up Tuesday of next week.  It comes with a computer so you can type messages that display on the sign.  Very convenient and very cool.  Stop by or drive by to check it out on Wednesday!  If you stop by the office on Wednesday, we will put your name on our new sign.  New customers will get a free consultation about their tax return!!!!!

Fluent in American Sign Language

I am fluent in ASL.  Please come in to see me if you are deaf and you have a question about your tax return and if you need it filed!  The deaf culture is a part of me.  My wife and I go to ISD to watch the homecomming football game.  Hope to see you there.