CPA Glossary: Tax, Accounting, and Business Terms

1099-B 1099-DIV 1099-INT 1099-K 1099-MISC 1099-NEC 1099-R 1099-S 1099-SA

754 Election

Above-the-Line Deduction Accountable Plan Accountant Accounts Aging Accounts Payable Accounts Receivable Accrual Accounting Accrued Expense Accrued Revenue Actual Vehicle Expense Additional Medicare Tax Adjusted Gross Income Adverse Opinion Advisory Services Agreed-Upon Procedures Allowance for Doubtful Accounts Alternative Depreciation System Alternative Minimum Tax Amortization Apportionment Articles of Incorporation Articles of Organization Assurance At-Risk Rules Audit Audit Sampling Audit vs Review

Backup Withholding Bad Debt Expense Balance Sheet Bank Reconciliation Basis Adjustment Basis Step-Up Below-the-Line Deduction Beneficial Ownership Information Board of Directors Bonus Depreciation Book vs Tax Basis Bookkeeper Bookkeeping Budget Variance Burn Rate Business Use Percentage Business Valuation Buy-Sell Agreement Bylaws

C-corp Cap Rate Capital Gains Tax Capital Loss Carryover Carryback Carryforward Cash Accounting Cash Flow Statement Cash vs Accrual Accounting Cash-Out Refinance Chart of Accounts Child Tax Credit Client Accounting Services Compilation Constructive Receipt Contra Asset Controlled Foreign Corporation Controller Cost Basis Cost of Goods Sold Cost Recovery Period Cost Segregation CPA CPA Firm CPA vs Accountant CPA vs Bookkeeper CPA vs Enrolled Agent Current Ratio

De Minimis Safe Harbor Debt Service Coverage Ratio Debt-to-Equity Ratio Deferred Revenue Dependent Depreciable Basis Depreciation Depreciation Recapture Disclaimer of Opinion Disregarded Entity Distributions Double-entry Bookkeeping Dual-Status Alien

Earned Income Tax Credit EBITDA Ecommerce Effective Tax Rate EIN Enrolled Agent Estate Tax Estimated Taxes Excise Tax Expatriate Tax Extension

Fair Market Value FATCA FBAR FICA Tax Filing Status Fixed Assets Fixed Costs Foreign Earned Income Exclusion Foreign Housing Exclusion Foreign Tax Credit Forensic Accountant Form 1040 Form 1040-ES Form 1065 Form 1095-A Form 1095-C Form 1098 Form 1098-E Form 1098-T Form 1120 Form 1120-S Form 2553 Form 2848 Form 3115 Form 4562 Form 4797 Form 4868 Form 5498 Form 6251 Form 7004 Form 709 Form 7203 Form 8300 Form 8582 Form 8821 Form 8829 Form 8949 Form 8962 Form 8995 Form 940 Form 941 Form 941-X Form 990 Fractional CFO Franchise Tax

General Ledger General Partnership Gift Tax GILTI Going Concern Goodwill Gross Margin Gross Profit Guaranteed Payments

Hobby Loss Rule Holding Company Home Office Deduction

Income Statement Independence Innocent Spouse Relief Installment Agreement Installment Sale Internal Controls Inventory Inventory Turnover IRS Notice IRS Resolution Itemized Deductions ITIN

Journal Entry

K-1

Land Improvements Like-Kind Exchange Limited Partnership LLC Long-Term Capital Gain

Management Letter Manager-Managed LLC Marginal Tax Rate Material Weakness Materiality Member-Managed LLC Mileage Deduction Month-End Close

Net Income Net Margin Net Operating Loss Nonrecourse Debt Nonrefundable Credit Nonresident Alien

Offer in Compromise Operating Agreement Operating Cash Flow Operating Expenses Opportunity Zone Ordinary and Necessary Expense Ordinary Income Organizational Costs Outsourced Accounting Overhead Owner's Draw Owner's Equity

Partnership Partnership Agreement Passive Activity Loss Passive Income Payroll Service Payroll Tax Penalty Abatement Personal Use Property PFIC Placed in Service Date Prepaid Expense Principal Residence Exclusion

Qualified Business Income Deduction Qualified Dividend Qualified Opinion Qualified Small Business Stock Quarterly Taxes QuickBooks ProAdvisor

R&D Credit Real Estate Professional Status Reasonable Compensation Reconciliation Recourse Debt Refundable Credit Registered Agent Rental Property Basis Repair vs Improvement Residency Test Retained Earnings Revenue Recognition Review Review Report

S-corp S-corp vs LLC Safe Harbor Sales Tax Sales Tax Nexus Sales Tax Permit Salvage Value Schedule C Schedule E Schedule SE Section 179 Self-Employment Tax Seller Financing Series LLC Shareholder Agreement Shareholder Basis Short-Term Capital Gain Short-Term Rental Loophole Significant Deficiency Social Security Tax Sole Proprietorship SS-4 Standard Deduction Startup Costs State Income Tax Subpart F Income Subsidiary Substantive Testing

Tax Advisor Tax Attorney Tax Bracket Tax Credit Tax Deduction Tax Liability Tax Loss Harvesting Tax Preparer Tax Refund Tax Residency Tax Year Tax-Exempt Income Taxable Event Taxable Income Totalization Agreement Transfer Pricing Treaty Position Trial Balance

Underpayment Penalty Unearned Income Unit Economics Unqualified Opinion Use Tax

Vacation Rental Value-Added Tax Variable Costs Vesting

W-2 W-4 W-7 W-9 Wash Sale Withholding Withholding Tax Working Capital