How to Prepare an M-1 Workpaper l Book to Tax Differences l Intro to Corporate Taxes (Part 1)
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- Опубліковано 28 лип 2024
- Hey guys,
In this video, I go over the M-1 workpaper also known as the Book to Tax Workpaper. This is one of the common workpapers you will encounter in the U.S. corporate tax field. If you studying for REG, trying to do your own company taxes, or are going into the public accounting tax field, this video is for you!
The M-1 Workpaper as well as the Notes are linked below!
Enjoy!
Jen
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Notes:
Schedule M-1 Notes :drive.google.com/file/d/1frXU...
Schedule M-1 Book to Tax Spreadsheet (In order to edit, make a copy): docs.google.com/spreadsheets/...
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#BooktoTax #CorporateTaxes #TaxTutorial #ScheduleM1 - Навчання та стиль
recently joined as tax analyst in a company in training session they m1 adjustment for 3 hours. i didn't understand anything but i got a idea in in your video in 15 minutes itself. need more videos from you on tax if there is already, please pin a playlist for that
THANK YOU!! i am a staff that never tried but now got a new job scared lol i am a senior and dont know the basics
I’m studying for Reg and I’m so thankful!!! Can’t wait to watch more videos!
TY! Glad you thought it was helpful! ☺️ more to come!
This is what I was looking for, your explanation was easy to understand, thank you so much!
Fantastic explanation! I've been struggling with this at my internship.
Glad it was helpful! 😀
Perfect timing for my tax internship! Thank you!
There will be more videos like this ☺️
Thank you! Looking forward to the future videos! Tax Depreciation vs Book Depreciation makes my brain hurt...lol
No problem! ☺️ I’ll go into more detail on that in my next tutorial video.
Simple and easy to understand. Thank you so much!
Very helpful! Thanks a bunch!
You're a great teacher :)!
Thank you!
Please do a video on how to prepare extension workpapers for corporate and partnership tax returns using M-1 adjustments and States A&A info from PY WP
This was great. Was wondering if you had a more complex example we could work on.
Good advice
Hi Jen, great tutorial! Can you please do more videos like this?
Yes! 👍
@@FinancialMatter thank you, can't wait!!
Can you give a tutorial for m3 as well with a small case study?
do you have a video on how to do quarterlt tax estmates ??
Can you please show us how to prepare a depreciation work paper 4562? I am into SALT and do not have experience in federal. So if you could make some videos that would be amazing.
Is there a Part II?
Hi Jen, thanks for the video. With respect to Net Income - what would be the correct about of Net Profit the $150K or $149K from a lender's perspective? Thanks!
Hi, could you tell me where did you see tax depreciation $14,000 in FS please elaborate it
Hi Jen ,, recently I joined as tax consultant in private company , I am in my training period , my field of return is 1065 ( they taught to tie an equity ) Adjusting entries ,, ( kindly post the vedio on that ,,, { thank you Jen}
Extremely helpful guide to understanding the concept in my accounting class! Quick question did you have to convert accrual basis to modified cash basis or cash basis before/after doing the m-1 reconciliation? My class tells me tax uses a modified cash basis
Hihi! Not all companies need to file their taxes on accrual basis. There’s a separate worksheet for these businesses that convert their accrual basis to cash basis. Afterwards, we then do the M-1 Workpaper. Lmk if you have any other questions!
@@FinancialMatter can’t wait for more of your videos :) I can tell you’re a great teacher by making complicated subjects simple
Question: If the tax depreciation is higher, shouldn't this be a Unfav temporary adjustment to M-1?
Hi Crystal! It’s a favorable temp adjustment because a greater tax depreciation than book will lower taxable income~
Jen we need to you again
would make much more sense to just quickly show the actual M-1 sheet at the end.