LodgeiT

In the example below, taxable interest income is $500 while equivalent accounting income is only $500.  Therefore, there is no increasing or decreasing adj...

In the example below, taxable partnership income is $5,000 while equivalent accounting income is only $1,560, creating an increasing reconciling difference ...

Reporting Partnership, Trust, Interest or Dividend Income in the Company Tax Return Make sure to activate the "Interest", "Dividends" a...

Turn on trust income if it has not automatically turned on. Report Trust via "Profit & Loss" tab Fill trust via "Add Worksheet"...

Classify Cashflow Boost as a Government subsidy. Tag it as Non-Assessable. LodgeiT will report the subsidy as Other Income. (ATO does not want i...

Classify "Jobkeeper" > "Grants" The income will reflect in the tax return as "Assessable government industry payments"...

Livestock report is stored in the tax form. It can be used as a working paper to compute average cost and closing inventory value. To learn more about the ...

Question: When it imports the Trust Distribution from Quickbooks it allocates to Income rather than Trust. Answer: You still need to manually enter the Tru...

Make sure to activate "Trust" via manage section Via "Profit & Loss", select "Trust", add the figure via "Section ...

Question: How do I enter Distribution statements from about 5 or more Managed Funds to a Company Tax Return?. Answer:  Company tax return does not have sec...