Tax Analyst Mock Interview

Master 25 Tax Analyst interview questions covering compliance, technical tax scenarios, and analytical problem-solving.

Question 19 of 25

What is Section 179 Expense?

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Brian Schuchart is a CPA and Senior Finance Business Partner. His professional experience includes senior management roles with NBC Sports, Virtual Health, and the Children's Hospital of Philadephia.

Section 179 Expense is a common IRS-approved method to recognize full depreciation of fixed assets in the year of purchase. There is a limit on the amount of equipment that qualifies for Section 179 in a given year (up to 1,050,000 in 2021). It is advisable to mention how Section 179 expense differs from straight-line depreciation.

Brian Schuchart

Brian Schuchart is a CPA and Senior Finance Business Partner. His professional experience includes senior management roles with NBC Sports, Virtual Health, and the Children's Hospital of Philadephia.

"Section 179 Expense was instituted by the United States government to encourage companies to buy equipment and invigorate the economy. Section 179 allows a company to deduct the full purchase price of equipment in the year of purchase, as opposed to depreciating over the useful life of the asset as required by financial accounting standards. Section 179 is a nice option for companies that invest in themselves to reduce taxable income."

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25Tax Analyst Interview Questions & Answers

Technical

1.When do corporations typically pay federal taxes?

Technical

2.What are examples of different types of taxes a company must pay?

Technical

3.What is a deferred tax liability?

Behavioral

4.How would you handle working in an increasingly remote environment?

Behavioral

5.What do you do when you donâ€™t know the answer to something?

Behavioral

6.Are you willing to work extra hours if needed during busier times?

Behavioral

7.What are some methods you use to self-review your work?

Technical

8.Are you proficient in Excel?

Technical

9.How are C-Corporations taxed differently than S-Corporations?

Technical

10.How would you go about calculating estimated taxes for the current year?

Technical

11.Have you obtained your CPA license?

Technical

12.What are permanent and temporary tax differences?

Technical

13.How do you keep up with the latest developments in tax rules and regulations?

Behavioral

14.The tax department interacts frequently with other departments. What are some of the ways that you can show professionalism when representing our department?

Behavioral

15.How do you manage your manager? In other words, what steps do you take to make sure you get what you need from your boss and make both your lives easier?

Behavioral

16.What is your experience with interacting with senior executives at various organizations?

Technical

17.How would you interact with our organizationâ€™s external auditors?

Behavioral

18.What would you do if you discovered there were accounting transactions that were suspicious or questionable?

Technical

19.What is Section 179 Expense?

Behavioral

20.What qualities or skills do you believe a good tax analyst should possess?

Technical

21.What are some of the most common accepted methods of depreciation?

Behavioral

22.What have you done at your previous job to reduce costs or save time?

Behavioral

23.Are you a detail-oriented person?

Behavioral

24.Why did you want to become a tax analyst?

Technical

Tax Analyst Mock Interview

What is Section 179 Expense?

25Tax Analyst Interview Questions & Answers

1.When do corporations typically pay federal taxes?

2.What are examples of different types of taxes a company must pay?

3.What is a deferred tax liability?

4.How would you handle working in an increasingly remote environment?

5.What do you do when you donâ€™t know the answer to something?

6.Are you willing to work extra hours if needed during busier times?

7.What are some methods you use to self-review your work?

8.Are you proficient in Excel?

9.How are C-Corporations taxed differently than S-Corporations?

10.How would you go about calculating estimated taxes for the current year?

11.Have you obtained your CPA license?

12.What are permanent and temporary tax differences?

13.How do you keep up with the latest developments in tax rules and regulations?

14.The tax department interacts frequently with other departments. What are some of the ways that you can show professionalism when representing our department?

15.How do you manage your manager? In other words, what steps do you take to make sure you get what you need from your boss and make both your lives easier?

16.What is your experience with interacting with senior executives at various organizations?

17.How would you interact with our organizationâ€™s external auditors?

18.What would you do if you discovered there were accounting transactions that were suspicious or questionable?

19.What is Section 179 Expense?

20.What qualities or skills do you believe a good tax analyst should possess?

21.What are some of the most common accepted methods of depreciation?

22.What have you done at your previous job to reduce costs or save time?

23.Are you a detail-oriented person?

24.Why did you want to become a tax analyst?

25.What accounting softwares are you familiar with?