Senior Tax Associate Interview Questions and Answers

Reviewing returns and workpapers involves thorough examination of tax documents and supporting documentation.

• Start by reviewing the tax return for accuracy and completeness

• Compare the numbers on the return to the supporting workpapers

• Check for any discrepancies or missing information

• Verify that all calculations are correct

• Ensure that all necessary schedules and forms are included

• Document any findings or issues for further review or discussion

Depreciation methods and forms are used to allocate the cost of an asset over its useful life for tax purposes.

• Depreciation methods include straight-line, double declining balance, units of production, and sum-of-the-years-digits.

• Forms used for depreciation include Form 4562 for assets placed in service during the tax year and Form 4797 for assets disposed of during the tax year.

• Depreciation is important for determining taxable income and reducing tax liability.

• Depreciation e...read more