Hrb stuvia Study guides, Class notes & Summaries

What is the Difference between earned income and unearned income? - ANSWER-Earned income is received for services performed. Examples are wages commissions, tips and generally farming and other business income . Taxable income other than that received for services performed. Unearned Income includes money received ro the investment of money or other property, such as interest, dividends, and royalties. It also includes pensions alimony, unemployment compensation and other income that is not earn...

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 are included in income even though payment may be received in another tax year. • Under the cash m...

ANSWER-22% _________ of American adults are considered overweight or obese - ANSWER-2/3 what effects/conditions does being overweight or obese lead to? - ANSWER-- medical conditions - psychological uneasiness _______ of American adolescent girls are dissatisfied with their image - ANSWER-two thirds what is the *traditional* definition of a desirable body type? - ANSWER-- The more you weigh, the prettier you are - a sign of wealth what is the *modern* definition of a desirable bo...

Describe the purpose of the CSO - ANSWER-To provide help & inspire confidence in our clients & communities everywhere. Explain the CSO structure, our teams and commonly asked questions? - ANSWER-Care to provide help & inspire confidence; serve w/ transparency; win by making it easy. Escalation teams - ANSWER-Escalations agents research and resolve escalated cases submitted by Tier 1 agents. People Center - ANSWER-provides human resource support to H&R Block associates. Emerald Card t...

Circular 230 - ANSWER-Regulations governing the practice of attorneys, CPAs, enrolled agents, enrolled actuaries, and appraisers before the IRS. Disclosure - ANSWER-The release of tax information by an IRS employee. Due Diligence - ANSWER-Requirements that Tax Professionals must follow when preparing income tax returns. • Accurate and Complete • Thorough Interview • Reasonability Check • TPS Notes Noncompliance - ANSWER-Failure or refusal to comply with the tax Code. Priv...