Senior Tax Associate
Senior Tax Associate Interview Questions and Answers
Q1. Process of reviewing returns and wp
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
Q2. Depreciation methods and forms
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
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