QPE Table of Contents

Transcription

1 QPE Table of Contents Tab Tax Table 2015 Tax Table 2015 Tax Computation Worksheet 2015 EIC Table State Individual Income Tax Quick Reference Chart (2015) General Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Tab States Quick Reference

2 Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming Tab 3 Quick Facts, Worksheets, Where to File Quick Facts Data Sheet Business Use of Home Worksheet Capital Loss Carryover Worksheet (2015) Child Tax Credit Worksheet (2015) Donations Noncash Donated Goods Valuation Guide Donations Substantiation Guide Earned Income Credit (EIC) Worksheet (2015) Net Operating Loss Worksheet #1 Net Operating Loss Worksheet #2 Computation of NOL Net Operating Loss Worksheet #3 NOL Carryover Social Security Benefits Worksheet (2015) Form 8949, Sales and Other Dispositions of Capital Assets Gain/Loss Adjustment Codes Deduction for Exemptions Worksheet (2015) Itemized Deductions Worksheet 2015 State and Local Sales Tax Deduction Health Coverage Exemptions Where to File 2015 Form 1040, 1040A, 1040EZ Where to File Form 1040-ES for 2016 Where to File Form 4868 for 2015 Return Line-By-Line Quick Reference to 2015 Form 1040 Taxable and Nontaxable Income Determining Filing Status Form W-2, Box 12 Codes Filing Status Exemptions Dependents Qualifying Child (QC) Tie-Breaker Rules Examples Children of Divorced orseparated Parents Medical Benefits fordependents Income Tab Form 1040 Line-By-Line

3 Adjustments to Income Taxes and Credits Other Taxes Payments Refund/Amount Owed Signatures and Designees Assembling the Return Phase-Out of Itemized Deductions Medical Deductions Taxes Interest Tracing Investment Interest Expense Interest Mortgages Points Mortgages Other Mortgage Interest Deduction Rules Charitable Contributions Casualty and Theft Losses Miscellaneous Itemized Deductions Miscellaneous Job Costs Work-Related Education Costs Investment Expenses Legal Fees Interest Income Dividends Foreign Accounts and Trusts Imputed Interest on Below Market Loans U.S. Government Bonds Bond Discount and Premium Tab 5 Schedule A Itemized Deductions Quick Guide to Business Entities Schedule C Principal Business or Professional Activity Codes Schedule C Profit/Loss From Business Business Use of Home Daycare Providers Business vs. Hobby Losses Independent Contractors Starting a Business Net Operating Loss (NOL) Schedule SE Self-Employment Tax Schedule F Profit/Loss From Farming Domestic Producer Deduction (DPD) Tab 6 Schedules C, F and SE

4 Real Estate Comparison Chart Schedule D/Form 8949 General Rules Stocks and Other Securities Mutual Funds Employee Stock Options Bad Debts Sales of Business Property Installment Sales Involuntary Conversions Home Ownership Sale of Residence Residence Gain Exclusion Business or Rental Use of Home Foreclosures Like-Kind Exchanges Tab 7 Schedule D; Form 4797; Sales and Exchanges Rents and Royalties Renting Out a Home Partners and S Corporation Shareholders Passive Activities Special Passive Loss Rules for Rental Activities At-Risk Rules Partner Codes for Schedule K-1 (Form 1065) Shareholder Codes For Schedule K-1 (Form 1120S) Tab 8 Schedule E, Passive Activities, At-Risk Tab 9 Form 2106, Travel, Meals and Entertainment Employee Business Expenses Meals and Entertainment Business Gifts Travel Substantiation Requirements Above-the-Line Deduction for Certain Employees Per Diem Rates High-Cost Localities for the High-Low Method Effective October 1, 2014 Meals and Incidental Expenses Per Diem Rates Tab 10 Depreciation Partial Table of Class Lives and Recovery Periods IRS Publication 946, Appendix B MACRS Tables (Various) Depreciation Rules Special Depreciation Allowance

5 Alternative Minimum Tax Adjustments Alternative Depreciation System Section 179 Deduction Section 179 Recapture Short Tax Year MACRS Allowed or Allowable Depreciation Depreciation Recapture General Asset Account (GAA) Depreciation Capitalization Rules Change of Use of MACRS Property Dispositions of MACRS Property Like-Kind Exchanges Depreciation Rules Computer Software Leasehold Improvements Qualified Real Property Correcting Depreciation Errors Property Contributed to a Partnership or Corporation Amortization Depletion Business Vehicles Quick Facts Deducting Vehicle Expenses Depreciating Vehicles Maximizing Vehicle Section 179 Expense Depreciation After Recovery Period Ends Depreciation Recapture Basis Autos Auto Trade-In Rules Selling a Business Auto Alternative Motor Vehicle Tax Credit Credits for Plug-In Vehicles Commuting Expenses Autos Documenting Business Use Employer-Provided Vehicles Listed Property Leased Vehicles Tab 11 Autos and Listed Property Tax Credits Summary (2015) Adoption Credit or Benefit Exclusion Child and Dependent Care Credit Child Tax Credit Earned Income Credit Education Tax Credits First-Time Homebuyer Credit Foreign Tax Credit Premium Tax Credit Tab 12 Credits, AMT, NII Tax and Special Taxpayers

6 Residential Energy Tax Credits Retirement Saver s Credit Small Employer Health Insurance Credit Alternative Minimum Tax (AMT) 3.8% Net Investment Income Tax Household Employers Ministers/Clergy Military Personnel Community Property U.S. Taxpayers Working Abroad Non-U.S. Citizens Oil and Gas Investors Kiddie Tax Foster Parents Qualified ABLE Programs Family Loans Custodial Accounts Savings Bonds Interest Exclusion Student Loan Interest Deduction Tuition and Fees Deduction Education Tax Incentives Comparison Chart (2015) Qualified Tuition Programs Education Savings Accounts Scholarships and Fellowships Divorce Tab 13 Children, Education and Divorce 2015 IRA Chart 2015 Employer and Self-Employed Retirement Plan Chart Exceptions to 10% Withdrawal Penalty Before Age 591/2 Traditional IRAs Deducting Traditional IRA Contributions Roth IRAs Roth IRA Conversions Rollovers and Transfers Withdrawals and Distributions Required Minimum Distributions Reporting Penalty Taxes IRAs at Death Simplified Employee Pensions (SEPs) Contribution Limits for the Self-Employed SIMPLE IRA Plans Qualified Retirement Plans One-Person 401(k) Plans Losses From IRAs and Pensions Annuity Distributions Tab 14 Retirement

7 Railroad Retirement Contacting the Social Security Administration (SSA) Social Security Benefits Social Security Quick Chart Retirement Benefits (2016) Social Security Quick Chart Family, Survivor and Disability Benefits (2016) Retirement Benefits Family and Survivor Benefits Disability Benefits Medicare Medigap Insurance Medicaid Supplemental Security Income Tab 15 Reference Materials and Worksheets Where to File: Business Returns Filing Addresses 2015 Returns Principal Business Activity Codes Forms 1065, 1120 and 1120S Business Quick Facts Data Sheet Types of Payments Where to Report Guide to Information Returns Tax Info Sheet for Gift Tax Returns Types of Foreign Assets and Whether They are Reportable Basics of Partnerships Partnership Income and Expense Chart (Form 1065) Partnership Income and Expenses Basis Built-In Gain or Loss Partnership Distributions Nonrecourse Loans Partnership Example Partner Codes for Schedule K-1, Form 1065 Tab 16 Partnerships Basics of Corporations Capital Contributions Stock Section 1244 Stock Losses Small Business Stock Distributions Earnings and Profits (E&P) Accumulated Earnings Tax Corporate Income and Expenses Corporate AMT Losses and Miscellaneous Items Corporation Example Tab 17 Corporations

8 Tab 18 S Corporations Basics of S Corporations S Corporation Taxes Reasonable Wages Shareholder s Basis Distributions S Corporation Example S Corporation Shareholder Codes for Schedule K-1, Form 1120S Basics of Tax-Exempt Organizations Private Foundations Becoming an Exempt Organization Form 990, 990-EZ or 990-N Completing Form 990-EZ Contributions to Tax-Exempt Organizations Unrelated Business Income Tax (Form 990-T) Comprehensive Example Tab 19 Tax-Exempt Organizations Limited Liability Company (LLC) LLCs and Entity Classification LLC Creation and Conversions LLCs Other Considerations Limited Liability Partnership (LLP) Limited Partnership Personal Service Corporation (PSC) Homeowners Associations Personal Holding Company (PHC) Tab 20 Other Business Entities Fiduciary Return Facts Trust and Estate Terminology Overview of Income Taxation of Trusts and Estates Grantor Trusts Tax Returns and Reporting Requirements Grantor Trusts Simple Trust Detailed Example Complex Trust Detailed Example Form 1041, Schedule K-1 Codes Tab 21 Fiduciary Tax Returns (Form 1041)

9 Death of a Taxpayer Taxable Income in the Year of Death Final Form 1040 Gift Tax Return (Form 709) Gift Tax Example Estate Tax Return (Form 706) Generation-Skipping Transfer (GST) Tax Basis in Property Valuing Property Taxable Estate Example Comprehensive Example Portability Election Tab22 Estate and Gift Tax Returns Payroll Tax Deposit Requirements Payroll Tax Payments Withholding Federal Income Tax Withholding Methods and Examples FICA and FUTA Wage Base New Hire Reporting Payroll Tax Reporting Special Compensation Gross-Up Computation Disregarded Entity Employment Taxes Trust Fund Recovery Penalty Other Payroll Tax Issues Tab 23 Payroll Tax Returns Business Tax Deductions U.S. Production Deduction Tax Credits Selected Energy Tax Incentives for Businesses Net Income per Books vs. Taxable Income Tab 24 Deductions, Credits and Books vs. Tax Inflation-Adjusted Amounts Expired Tax Provisions Tax Legislation Affordable Care Act New for 2015 April 15, 2016 Deadline Extended Same-Sex Marriages Affordable Care Act (ACA) Glossary Tax Provisions That Expired on December 31, 2014 Tab 25 What s New

10 Achieving a Better Life Experience (ABLE) Act of 2014 Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 Trade Acts of 2015 Tab 26 Tax Practice Survey Quickfinder 2015 National Tax Practice Survey (9/15) Type of Organization Annual Gross Billings National and Regions Job Function National and Regions Credentials Annual Compensation Packages National and Regions Retirement Plan National and Regions Fees Charged for Tax Work National and Regions Average Fee Charged Average Hourly Billing Rates National and Regions Handling Delinquent Accounts Local Economy National Economy in Next 12 Months National and Regions Percentage of Permanent Employees National and Regions Staffing Plans for the Next 12 Months National and Regions Cost of Office Rent per Sq. Ft. of Space per Year National and Regions Feedback for the 2016 Survey Treasury Department Circular No. 230 (Rev ) Tab 27 IRS Circular 230 Topical Index Index