Bojan Radojicic on LinkedIn: What are key differences between direct and indirect taxes. 𝗡𝗮𝘁𝘂𝗿𝗲… (2024)

Happy Afternoon,Deferred Tax - Disclosure of Effective Tax rateOn review of many Ind AS financial statements - it is noted that many companies do not present "Effective Tax rate reconciliation" as per Paragraph 81 of Ind AS 12: Income Taxes. Basically, If you divide the total tax expense i.e. current tax + Deferred tax in the current year with Profit Before Tax (PBT) - It should come to normal income tax rate (i.e. 30/25% + Surcharge +Cess) - If it is not reaching this rate - must be because of rate differences in few items like capital gains / or any other like permanent differences. The company should disclose the reconciliation in the financial statements. For your information - sharing an example. Thank you.

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Here are some important fourth quarter 2023 tax-filing dates for businesses. OCT. 16: If you’re the owner or operator of a calendar-year C corp. which filed an extension, file a 2022 income tax return. OCT. 31: Report income tax withholding and FICA taxes for Q3 2023 (unless you’re eligible for a Nov. 13 deadline because you deposited on time and in full all of the associated taxes due). DEC. 15: If a calendar-year C corp., pay the fourth installment of 2023 estimated income taxes. Note: Certain deadlines may be postponed in federally declared disaster areas. We can provide more information about filing requirements and ensure you’re meeting all applicable deadlines. https://bit.ly/2GhslyQ

Here are some important fourth quarter 2023 tax-filing dates for businesses. OCT. 16: If you’re the owner or operator of a calendar-year C corp. which filed an extension, file a 2022 income tax return. OCT. 31: Report income tax withholding and FICA taxes for Q3 2023 (unless you’re eligible for a Nov. 13 deadline because you deposited on time and in full all of the associated taxes due). DEC. 15: If a calendar-year C corp., pay the fourth installment of 2023 estimated income taxes. Note: Certain deadlines may be postponed in federally declared disaster areas. We can provide more information about filing requirements and ensure you’re meeting all applicable deadlines. https://bit.ly/2NMIz4g

Here are some important fourth quarter 2023 tax-filing dates for businesses. OCT. 16: If you’re the owner or operator of a calendar-year C corp. which filed an extension, file a 2022 income tax return. OCT. 31: Report income tax withholding and FICA taxes for Q3 2023 (unless you’re eligible for a Nov. 13 deadline because you deposited on time and in full all of the associated taxes due). DEC. 15: If a calendar-year C corp., pay the fourth installment of 2023 estimated income taxes. Note: Certain deadlines may be postponed in federally declared disaster areas. We can provide more information about filing requirements and ensure you’re meeting all applicable deadlines. https://bit.ly/46nT31i

Here are some important fourth quarter 2023 tax-filing dates for businesses. OCT. 16: If you’re the owner or operator of a calendar-year C corp. which filed an extension, file a 2022 income tax return. OCT. 31: Report income tax withholding and FICA taxes for Q3 2023 (unless you’re eligible for a Nov. 13 deadline because you deposited on time and in full all of the associated taxes due). DEC. 15: If a calendar-year C corp., pay the fourth installment of 2023 estimated income taxes. Note: Certain deadlines may be postponed in federally declared disaster areas. We can provide more information about filing requirements and ensure you’re meeting all applicable deadlines. https://bit.ly/46nT31i

Here are some important fourth quarter 2023 tax-filing dates for businesses. OCT. 16: If you’re the owner or operator of a calendar-year C corp. which filed an extension, file a 2022 income tax return. OCT. 31: Report income tax withholding and FICA taxes for Q3 2023 (unless you’re eligible for a Nov. 13 deadline because you deposited on time and in full all of the associated taxes due). DEC. 15: If a calendar-year C corp., pay the fourth installment of 2023 estimated income taxes. Note: Certain deadlines may be postponed in federally declared disaster areas. We can provide more information about filing requirements and ensure you’re meeting all applicable deadlines. https://bit.ly/46nT31i

Here are some important fourth quarter 2023 tax-filing dates for businesses. OCT. 16: If you’re the owner or operator of a calendar-year C corp. which filed an extension, file a 2022 income tax return. OCT. 31: Report income tax withholding and FICA taxes for Q3 2023 (unless you’re eligible for a Nov. 13 deadline because you deposited on time and in full all of the associated taxes due). DEC. 15: If a calendar-year C corp., pay the fourth installment of 2023 estimated income taxes. Note: Certain deadlines may be postponed in federally declared disaster areas. We can provide more information about filing requirements and ensure you’re meeting all applicable deadlines. https://bit.ly/46nT31i

April showers bring May…tax deadlines? Don’t miss these two key dates! ⏰As the #taxdeadline approaches, it’s easy to get caught up in the #TaxFiling frenzy. But did you know there are two other crucial deadlines you should be aware of?Stay ahead of the game:1️⃣ Monday, May 1: Deadline for employers to report income tax withholding and FICA taxes for Q1 2023 (Form 941) and pay any tax due. 2️⃣ Wednesday, May 10: Deadline for employers to report income tax withholding and FICA taxes for Q1 2023 (Form 941) if taxes were deposited on time and fully paid. 3️⃣ Thursday, June 15: Deadline for corporations to pay the second installment of 2023 estimated income taxes.Don't let these deadlines catch you off guard! Our team is here to guide you through RMDs and estimated tax payments, ensuring you stay on track and avoid potential pitfalls. Get in touch with us today, and let's secure your financial future together.📞 Schedule a free consultation with us today using the link in the comments! #TaxDeadlines #RMD #EstimatedTaxPayments #TaxPlanning #CookCPAGroup

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Here are some important fourth quarter 2023 tax-filing dates for businesses. OCT. 16: If you’re the owner or operator of a calendar-year C corp. which filed an extension, file a 2022 income tax return. OCT. 31: Report income tax withholding and FICA taxes for Q3 2023 (unless you’re eligible for a Nov. 13 deadline because you deposited on time and in full all of the associated taxes due). DEC. 15: If a calendar-year C corp., pay the fourth installment of 2023 estimated income taxes. Note: Certain deadlines may be postponed in federally declared disaster areas. We can provide more information about filing requirements and ensure you’re meeting all applicable deadlines. https://bit.ly/3POvbhQ

Here are some important fourth quarter 2023 tax-filing dates for businesses. OCT. 16: If you’re the owner or operator of a calendar-year C corp. which filed an extension, file a 2022 income tax return. OCT. 31: Report income tax withholding and FICA taxes for Q3 2023 (unless you’re eligible for a Nov. 13 deadline because you deposited on time and in full all of the associated taxes due). DEC. 15: If a calendar-year C corp., pay the fourth installment of 2023 estimated income taxes. Note: Certain deadlines may be postponed in federally declared disaster areas. We can provide more information about filing requirements and ensure you’re meeting all applicable deadlines.www.SymSolutionsCPA.com

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