Difference between revisions of "Odomirok.26-Taxes"
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Based on past exams, the '''main things''' you need to know ''(in rough order of importance)'' are: | Based on past exams, the '''main things''' you need to know ''(in rough order of importance)'' are: | ||
| − | * | + | * <span style="color: green;">'''income tax'''</span> calculation |
| − | * | + | * <span style="color: blue;">'''SAP income'''</span> calculation, both pre-tax and post-tax |
| + | * tax basis income, tax rates, discounting loss reserves for tax purposes | ||
: {| class="wikitable" style="width: 1000px;" | : {| class="wikitable" style="width: 1000px;" | ||
|- | |- | ||
| − | ! style="width: 175px;" | reference !! part (a) !! part (b) !! part (c) !! part (d) | + | ! style="width: 175px;" | reference !! style="width: 195px;" | part (a) !! style="width: 195px;" | part (b) !! style="width: 175px;" | part (c) !! part (d) |
|- | |- | ||
| [https://www.battleacts6us.ca/pdf/Exam_(2018_1-Spring)/(2018_1-Spring)_(14).pdf <span style='font-size: 12px; background-color: yellow; border: solid; border-width: 1px; border-radius: 5px; padding: 2px 5px 2px 5px; margin: 5px;'>E</span>] <span style="color: red;">'''(2018.Spring #14)'''</span> | | [https://www.battleacts6us.ca/pdf/Exam_(2018_1-Spring)/(2018_1-Spring)_(14).pdf <span style='font-size: 12px; background-color: yellow; border: solid; border-width: 1px; border-radius: 5px; padding: 2px 5px 2px 5px; margin: 5px;'>E</span>] <span style="color: red;">'''(2018.Spring #14)'''</span> | ||
| − | || | + | || '''tax basis income''': <br> - calculate |
| − | || | + | | style="background-color: lightgrey;" | |
| − | || | + | | style="background-color: lightgrey;" | |
| + | | style="background-color: lightgrey;" | | ||
| + | |||
|- | |- | ||
| [https://www.battleacts6us.ca/pdf/Exam_(2017_2-Fall)/(2017_2-Fall)_(21).pdf <span style='font-size: 12px; background-color: yellow; border: solid; border-width: 1px; border-radius: 5px; padding: 2px 5px 2px 5px; margin: 5px;'>E</span>] <span style="color: red;">'''(2017.Fall #21)'''</span> | | [https://www.battleacts6us.ca/pdf/Exam_(2017_2-Fall)/(2017_2-Fall)_(21).pdf <span style='font-size: 12px; background-color: yellow; border: solid; border-width: 1px; border-radius: 5px; padding: 2px 5px 2px 5px; margin: 5px;'>E</span>] <span style="color: red;">'''(2017.Fall #21)'''</span> | ||
| − | || | + | || <span style="color: green;">'''income tax:'''</span> <br> - calculate |
| − | || | + | | style="background-color: lightgrey;" | |
| − | || | + | | style="background-color: lightgrey;" | |
| − | || | + | | style="background-color: lightgrey;" | |
|- | |- | ||
| [https://www.battleacts6us.ca/pdf/Exam_(2016_2-Fall)/(2016_2-Fall)_(19).pdf <span style='font-size: 12px; background-color: yellow; border: solid; border-width: 1px; border-radius: 5px; padding: 2px 5px 2px 5px; margin: 5px;'>E</span>] <span style="color: red;">'''(2016.Fall #19)'''</span> | | [https://www.battleacts6us.ca/pdf/Exam_(2016_2-Fall)/(2016_2-Fall)_(19).pdf <span style='font-size: 12px; background-color: yellow; border: solid; border-width: 1px; border-radius: 5px; padding: 2px 5px 2px 5px; margin: 5px;'>E</span>] <span style="color: red;">'''(2016.Fall #19)'''</span> | ||
| − | || | + | || '''tax rate''': <br> - various income types |
| − | || | + | || '''taxable income''': <br> - from SAP income |
| − | || | + | || <span style="color: green;">'''income tax:'''</span> <br> - calculate |
| − | || | + | | style="background-color: lightgrey;" | |
|- | |- | ||
| [https://www.battleacts6us.ca/pdf/Exam_(2016_1-Spring)/(2016_1-Spring)_(18).pdf <span style='font-size: 12px; background-color: yellow; border: solid; border-width: 1px; border-radius: 5px; padding: 2px 5px 2px 5px; margin: 5px;'>E</span>] <span style="color: red;">'''(2016.Spring #18)'''</span> | | [https://www.battleacts6us.ca/pdf/Exam_(2016_1-Spring)/(2016_1-Spring)_(18).pdf <span style='font-size: 12px; background-color: yellow; border: solid; border-width: 1px; border-radius: 5px; padding: 2px 5px 2px 5px; margin: 5px;'>E</span>] <span style="color: red;">'''(2016.Spring #18)'''</span> | ||
| − | || | + | || '''discounting reserves''': <br> - for tax purposes |
| − | || | + | || <span style="color: blue;">'''SAP income:'''</span> <br> - calculate pre-tax value |
| − | || | + | || '''federal tax''': <br> - identify missing info |
| − | || | + | | style="background-color: lightgrey;" | |
|- | |- | ||
| [https://www.battleacts6us.ca/pdf/Exam_(2015_1-Spring)/(2015_1-Spring)_(17).pdf <span style='font-size: 12px; background-color: yellow; border: solid; border-width: 1px; border-radius: 5px; padding: 2px 5px 2px 5px; margin: 5px;'>E</span>] <span style="color: red;">'''(2015.Spring #17)'''</span> | | [https://www.battleacts6us.ca/pdf/Exam_(2015_1-Spring)/(2015_1-Spring)_(17).pdf <span style='font-size: 12px; background-color: yellow; border: solid; border-width: 1px; border-radius: 5px; padding: 2px 5px 2px 5px; margin: 5px;'>E</span>] <span style="color: red;">'''(2015.Spring #17)'''</span> | ||
| − | || | + | || <span style="color: green;">'''income tax:'''</span> <br> - calculate |
| − | || | + | | style="background-color: lightgrey;" | |
| − | || | + | | style="background-color: lightgrey;" | |
| − | || | + | | style="background-color: lightgrey;" | |
|- | |- | ||
| [https://www.battleacts6us.ca/pdf/Exam_(2013_2-Fall)/(2013_2-Fall)_(18).pdf <span style='font-size: 12px; background-color: yellow; border: solid; border-width: 1px; border-radius: 5px; padding: 2px 5px 2px 5px; margin: 5px;'>E</span>] <span style="color: red;">'''(2013.Fall #18)'''</span> | | [https://www.battleacts6us.ca/pdf/Exam_(2013_2-Fall)/(2013_2-Fall)_(18).pdf <span style='font-size: 12px; background-color: yellow; border: solid; border-width: 1px; border-radius: 5px; padding: 2px 5px 2px 5px; margin: 5px;'>E</span>] <span style="color: red;">'''(2013.Fall #18)'''</span> | ||
| − | || | + | || <span style="color: blue;">'''SAP income:'''</span> <br> - calculate |
| − | || | + | || '''bond/stock allocation''': <br> - considerations |
| − | || | + | | style="background-color: lightgrey;" | |
| − | || | + | | style="background-color: lightgrey;" | |
|} | |} | ||
| + | |||
[https://www.battleacts6us.ca/FC.php?selectString=**&filter=both&sortOrder=natural&colorFlag=allFlag&colorStatus=allStatus&priority=importance-high&subsetFlag=miniQuiz&prefix=Odomirok&suffix=26-Taxes§ion=all&subSection=all&examRep=all&examYear=all&examTerm=all&quizNum=all<span style="font-size: 20px; background-color: lightgreen; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 10px;">'''Full BattleQuiz]'''</span> <span style="color: red;">'''You must be <u>logged in</u> or this will not work.'''</span> | [https://www.battleacts6us.ca/FC.php?selectString=**&filter=both&sortOrder=natural&colorFlag=allFlag&colorStatus=allStatus&priority=importance-high&subsetFlag=miniQuiz&prefix=Odomirok&suffix=26-Taxes§ion=all&subSection=all&examRep=all&examYear=all&examTerm=all&quizNum=all<span style="font-size: 20px; background-color: lightgreen; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 10px;">'''Full BattleQuiz]'''</span> <span style="color: red;">'''You must be <u>logged in</u> or this will not work.'''</span> | ||
Revision as of 19:54, 4 March 2019
Pop Quiz
BattleTable
Based on past exams, the main things you need to know (in rough order of importance) are:
- income tax calculation
- SAP income calculation, both pre-tax and post-tax
- tax basis income, tax rates, discounting loss reserves for tax purposes
reference part (a) part (b) part (c) part (d) E (2018.Spring #14) tax basis income:
- calculateE (2017.Fall #21) income tax:
- calculateE (2016.Fall #19) tax rate:
- various income typestaxable income:
- from SAP incomeincome tax:
- calculateE (2016.Spring #18) discounting reserves:
- for tax purposesSAP income:
- calculate pre-tax valuefederal tax:
- identify missing infoE (2015.Spring #17) income tax:
- calculateE (2013.Fall #18) SAP income:
- calculatebond/stock allocation:
- considerations
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In Plain English!
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BattleCodes
Memorize:
Conceptual:
Calculational:
