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Schedule M-1 Book/Tax Differences |
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Steps to Preparing the Schedule M-1
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Typically there are four types of adjustments that will be encountered
in the preparation of the Schedule M-1. These adjustments include:
- Book income that is included in the financial statements but not included
on the tax return.
- Book expenses that are included in the financial statements but not
deducted on the tax return.
- Taxable income that is included on the tax return but not recorded in
book income.
- Tax deductions that are included on the tax return but not charged
against book income.
Each of these adjustments will be examined more thoroughly throughout the
remainder of the lesson.
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Copyright © 1998 Bizzer Professional Training |
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