Business Income Tax

  • $10.00


This test for Business Income Tax is designed to determine the level of tax and accounting knowledge of the test taker. Many of the questions are basic in nature and should be easily handled by someone with as little as one year's experience in the area. Other questions are more detailed and are targeted to those test takers with more experience and who may be pursuing a professional qualification in this area. Topics include Assets, Business Use, Deductions, Inventory, Property, Self-Employment, and Taxes.

Assessments for Corporate Tax Accounting and Individual Income Tax are also available.

Number of questions 39
Test format Multiple-Choice
Time to complete Varies by skill
Topics covered Assets
Business Use
Deductions
Inventory
Property
Self-Employment
Taxes
Tasks tested Adjustments to the Basis of Assets
Advantages of Rental Property
Allowable Medical Expenses
Allowable Tax Deductions
Benefits of Self-Employment
Change in Accounting Method
Classification of Businesses
Computing the Cost of Goods Sold
Deductions for Business Expenses
Deductions for Business Use of Cars
Depreciating Assets
Depreciation of Computer Software
Depreciation of Rental Property
Determination of Net Income
Determining the Basis for Disposal of an Asset
Due Dates for Returns
Employee's Withholding Allowance
Filing Returns
Gift Expense vs. Entertainment Expense
Gift Expenses
Identifying Employees
Identifying Employment Taxes
Identifying Home Office Expenses
Identifying Listed Property
Installment Tax
MACRS
Manufacturing Costs of Goods Sold
Payment of Self-Employment Taxes
Qualifying as a Deduction
Qualifying Business Use
Startup Expenditure
Taxes for a Sole Proprietorship
Timing of Deductions for Expenditures
Treatment of a Bad Debt
Treatment of Capital Losses
Treatment of Startup Expenses
Using the Option of Installment Tax
Valuation of Inventory
Supported languages ๐Ÿ‡บ๐Ÿ‡ธ English (en_US)