1- Difference between Traditional IRA VS Roth IRA 2- What is Sch H? 3- Suppose in sch C if the net loss is $10,000 which includes home office expenses of $5000 then how much home office expenses can be deducted? 4- Liability vs Provision? 5- Prepaid expenses 6- Amortization 7- Where will contingent liability will come in financial statement? 8- What is success? 9- What was the most hectic thing you faced during tax season? 10- what's your future plan? 11- Name three credits which are refundable.

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Answers to various tax-related questions for a Tax Associate interview.

Traditional IRA is funded with pre-tax dollars, while Roth IRA is funded with after-tax dollars.
Sch H is used to report household employment taxes.
Home office expenses can be deducted up to the amount of net income on Sch C.
Liability is a legal obligation while provision is a potential liability.
Prepaid expenses are expenses paid in advance but not yet incurred.
Amortization is the process of spreading out the cost of an intangible asset over its useful life.
Contingent liabilities are disclosed in the financial statements if they are probable and the amount can be estimated.
Success can be defined as achieving one's goals or objectives.
Tax season can be hectic due to high workload and tight deadlines.
Future plans may include furthering education, gaining more experience, or advancing in the field.
Refundable tax credits include the Earned Income Tax Credit, Child Tax Credit, and American Opportunity Credit.

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