TAX RELATED FAQs
Can you synchronize our QuickBooks to track tax-related income and expense information?
It is imperative that Quickbooks is set up correctly to get accurate tax information. You can set up QuickBooks to get information for the following tax forms:
- Form 1120
Form 1120S
- Form 1065
- Form 1040
- Form 990Form 990-PFForm 990-T
You can associate each tax-related account on the chart of accounts with the appropriate tax line.
Can I assign this information myself?
Yes. But my advice to you is having accountant such as A1 Acct Inc review income tax information in QuickBooks before preparing the income taxes. The accuracy of the tax summary reports depends on whether each tax-related account has the right tax line assignment.
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