I have looked through the thread and come across similar questions, but there seems to be nothing exactly on point, so i was hoping the good folks of this sub might shed some light on several questions I have regarding the topic in the title. I have an undergrad and grad degree in accounting, and I interned at a larger mid market firm. I received a full-time offer, but elected to go to law school instead. Iโm currently set to graduate in May and sit for the July bar exam, and i am in the interview process for a big 4 indirect tax staff position in a secondary market. Iโm looking for general information about what indirect tax staff does on a day to day basis (i know it can depend on focus area) so that i can speak about the position at least semi-intelligently in the interview. If anyone has any insights as to salary for this position or exit opportunities (or how a JD and bar membership would affect either of these), i would love to hear your input. Thank you for taking the time to read, friends!
Sorry for asking in English but my Danish is very bad.
I've been trading volatility (I make profit on market variations, not on bull markets) as a hobby for the past few years through future contracts on cryptocurrencies. I use some basic AI to do most of my trades on my behalf.
Here are the average *monthly* operating gains and costs on the past year:
Future gross profit 38,148.86 dkk
Future trading fees 7,109.20 dkk
AI costs 1,487.34 dkk
I would like to increase my investment and move to a professional set up where the AI costs are ~25% of the net future profit instead of ~4%. As a personal investor, I am currently taxed on the net future profit before deducing the AI costs, so on 38,148.86 - 7,109.20 = 31,039.66 dkk. I would like to be taxed on the net profit of my whole operation, so on 38,148.86 - 7,109.20 - 1,487.34 = 29,552.32 dkk.
What is the best company structure I can create so I can deduce the AI costs before being taxed?
Thanks for any suggestion,
What are the mandatory qualifications to get into the tax team (Indirect tax specifically) in any of the Big 4 in Canada?
Is Canadian CPA (or any equivalent chartered accountancy qualification) mandatory?
Would a diploma in taxation (for e.g. ADIT) & 5+ years of experience in other jurisdictions of Indirect Tax help with the chances?
Guys hi
Could someone help me understand the mechanics of Excess Tax Benefit on CF statement? (before ASU 2016-09 took effect)
I took example from CPA journal
>Tax Rate - 40%
>
>Entity A issues stock awards to its employees at the beginning of the first year with a fair value of $100.
>
>The awards will be vested in two years, the intrinsic value of the award at the end of the second is $500.
Journal entries for taxes at the end of year 2 (at stock award exercise) are :
(reversing previously established DTA)
Dr Deferred Tax Benefits 40
Cr Deferred Tax Asset 40
(recording tax expense)
Dr Taxes Payable 200 # 500*0.4
Cr Current Tax Expense 40 # 100*0.4
Cr APIC 160 # (500-100)*0.4
As i understand CF will look like:
(assuming no cash payment for taxes was made)
CFO
NI NM
Decrease in DTA 40
Decrease in Taxes Payable (200)
CFF
Excess tax benefits from SBC 160
However when i look at real world examples from 10k, practically all of them have additional negative Excess tax benefits from SBC in CFO
CFO
NI NM
Decrease in DTA ...
Excess tax benefits from SBC (160) <this one
Decrease in Taxes Payable ...
CFF
Excess tax benefits from SBC 160
I can't understand where it's coming from. What's the origin / journal entry for this negative Excess Tax Benefit on CF statement?
For example here Microsoft has
CFO
Excess tax benefits from stock-based compensation (588)ย (271)ย (209)ย
CFF
Excess tax benefits from stock-based compensation 588ย 271 ย 209ย
Maybe they split Decrease in Taxes Payable into 2 components...
๐ดโโ ๏ธ Hi slightly embarrassing request but is anyone willing to share their training material for indirect tax modules (for the CTA) as my firm is not bothering to pay for this.
Iโm working on University study project about tax in the USA and found out that it kinda hard to find information that Im looking for so the topic said that is social insurance tax direct or indirect tax? payroll tax also, I try to find information about is it direct or indirect but cant find it anywhere. Thank you so much!!
I'm a CPA doing non-CPA things at a Big 4 firm.
There's a lot of buzz and chatter about technology and automation. As someone who works with this day and and day out, I wanted to answer any questions you all might have about.
Some background on how I got here.
I got my bachelor's and masters in accounting. I went through the traditional recruiting process as well. I did an internship in the tax technology group I'm currently in and haven't looked back. It's not your traditional compliance tax group. There's no busy season, it's consulting based so there's a lot of face time with clients you don't typically see in other tax groups. The work is interesting (to me, at least) because of how we're leveraging existing and developing tech into tax functions.
Cool tech we're working with:
- Process automations
- Robotic Desktop/Process Automation (RDA/RPA)
- Machine learning
- Geospatial
- Artificial intelligence
- Blockchain
I've been doing this for a little over three years now, so let me know what you want to know!
IntroductionWe are currently seeking an Application Developer to become part of a team that provides IT support to the IBM Finance Systems Indirect Tax (IDT) organization. The successful candidate will help the IT team to build, enhance and maintai โฆ
Read more / apply: https://ai-jobs.net/job/2383-indirect-tax-etl-developer/
