Tax associate Interview Questions

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EY
Tax Accountant was asked...May 19, 2013

Imagine you make a very complicated calculation in excel for a client who is going to make a decision. After you reviewed it a couple of times you notice you are going to save the client $10 million in taxes. You give it to your senior and your partner, who review your work. They agree on your calculation and tell the client about the tax savings and the meeting to finalize the transaction is tomorrow. It's 9 o'clock at night and you are finalizing the paperwork, and you suddenly realize you made a careless mistake on excel and instead of putting a minus, you put a plus, so the client is not going to save $10 million, but is going to owe $10 million. What do you do? How do you handle the situation?

3 Answers

Firstly, tell your partner and senior about it. After that, finalize the paperwork and bring it to your client's house. Talk to your client and just tell your client that you've made a mistake and tell your client the correct info Less

Start looking for a new job as soon as possible.

Answer: Everyone makes mistakes and you have to acknowledge it in a humble way. Tell the senior or the partner of the mistake as soon as possible, so they can help you minimize the damage. Less

California State Board of Equalization

What is cost of goods sold in a manufacturing environment?

2 Answers

Finished Goods Available for Sale (beginning finished goods inventory + cost of goods manufactured) - Ending Finished Goods Inventory = COGS Less

Define the calculation.

Liberty Tax Service

Why do you want to prepare Federal Income taxes?

1 Answers

The best part of the job is feeling your helping people complete a task they sometimes feel is daunting. I always took great satisfaction knowing I was helping people at the end of each day. Less

Putnam Investments

Tell me a situation or time when you were able to save the company money by lowering a tax expense at your last job.

1 Answers

My last company was paying a lot in gross receipts tax for the state of Washington. I did a lot of research and found a way to apportion sales differently and saved the company 500K in tax expense for one year. Less

Masco

Tell us about a time you worked in a diverse team, describe the task and the outcome.

1 Answers

choose an example that brings out your leadership skills. do not make it sound like you took al the work and no one else did nothing. they are looking for team players. Less

EY

Does life fascinate you

15 Answers

If life fascinated me, why would I interview for a position at Ernst & Young? Less

Sure, life fascinates me. Take this interview for example...isn't it fascinating the number of possible answers you might get to this question? There are an endless variety of ways that people might respond. Don't you find that fascinating? Less

Ya, alot more than this stupid interview!!

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EY

questions were,depreciation? Is gold depreciated?tax on agriculture income,tax slabs,probability,and one sum was also given to solve

12 Answers

Oh..thanku..n i will do let you know

What sort of questions do they ask in managerial round in ey ? Can anyone tell me? Less

But i am a fresher..so I don't have any of those documents..

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Andersen
Tax was asked...October 5, 2015

Do you have any questions?

7 Answers

Yes. Who killed Biggie & Tupac?

Yes. How did Caitlyn Jenner get away with murder?

Do bees laugh?

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Intuit

Erik took a $5,000 distribution from his ROTH IRA to pay for a vacation to celebrate his 40th birthday. Since he opened the account 10 years ago, he has contributed $28,500. Will he have to pay any taxes on this distribution?

7 Answers

Erik can withdraw as much as his Roth IRA contribution without tax and penalty. but if he want to withdraw the earning, he will own the income tax and 10% early withdraw penalty. Less

Yes, due to his age and the reason for withdrawal do not quality for tax free withdrawal Less

Yes, he will have to pay taxes and penalties because the reasons he took the fund and the amount he took would not qualify him for tax free or penalty free withdrawals Less

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Uganda Revenue Authority

Are u trainable

6 Answers

yes

i can be trained

i can be trainable and i have attended a number of training which has helped me to train other people to result out them for the better of the organization success. Less

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