Archive for January, 2010
Above All asked:
… And can it be found on-line?
… And can it be found on-line?
Thanks so much in advance!!
I should have been more clear. I want to know what the form number is that they submit to the IRS, with the expenses listed on it.
Novella Skonczewski
lfgjoeoh asked:
Never opened up a business credit card but always used a personal credit card.
Robby Palme
Never opened up a business credit card but always used a personal credit card.
Robby Palme
prevere34@rocketmail.com asked:
In 2008, I did not generate any income at all, either from an employer or from my own business start up. I incurred expenses (paid from savings) from efforts to get this business off the ground. If I take deductions for these expenses, my AGI is negative. Does that mean I am entitled to a refund?
In 2008, I did not generate any income at all, either from an employer or from my own business start up. I incurred expenses (paid from savings) from efforts to get this business off the ground. If I take deductions for these expenses, my AGI is negative. Does that mean I am entitled to a refund?
Also, is rent for a location considered deductible? What if this location was overseas?
Sofia Lorance
Hgldr asked:
Carpenters need a supply of screws and nails and things which you need occasionally but don’t use up all at once. This can add up to thousands of dollars of stuff. Are these in the same category as tools? How do I deduct these?
Issac Cake
Carpenters need a supply of screws and nails and things which you need occasionally but don’t use up all at once. This can add up to thousands of dollars of stuff. Are these in the same category as tools? How do I deduct these?
Issac Cake
amfx22000 asked:
PS If they pay for them personally because they’re self-employed and didn’t get a free screener of something
Arron Lemar
PS If they pay for them personally because they’re self-employed and didn’t get a free screener of something
Arron Lemar
hunters270 asked:
How important is it which category an expense is in? I am a direct seller & can’t decide exactly where to put some expenses. Would catalogs go under advertising? Or supplies? Postage (mailing invitations to home parties) could technically be advertising too, couldn’t it? What about samples & displays? Could be advertising, supplies, other — aarrgh!
Matilda Thatcher
How important is it which category an expense is in? I am a direct seller & can’t decide exactly where to put some expenses. Would catalogs go under advertising? Or supplies? Postage (mailing invitations to home parties) could technically be advertising too, couldn’t it? What about samples & displays? Could be advertising, supplies, other — aarrgh!
Matilda Thatcher
If I used $500 to make $1000 and had $100 of business expenses, what will I have to use as my gains?
project96gsr asked:
If I were to do my taxes that’ll be:
$500 gain
$100 expenses
I’ll write $400 in my business income for taxes? Is that correct?
John Winchester
If I were to do my taxes that’ll be:
$500 gain
$100 expenses
I’ll write $400 in my business income for taxes? Is that correct?
John Winchester
richard asked:
99% of my expenses prior to Sep 1st were from my personal money and I would LIKE to file as a sole proprietorship so I get the refund check back under my name. Does my incorporation mean I cannot do that? If I get a refund under the corporation I cannot replenish my own funds without paying the taxes on it as “dividends”.
99% of my expenses prior to Sep 1st were from my personal money and I would LIKE to file as a sole proprietorship so I get the refund check back under my name. Does my incorporation mean I cannot do that? If I get a refund under the corporation I cannot replenish my own funds without paying the taxes on it as “dividends”.
FYI – This is not an S – Corp.
Thanks
Art
dusty8940 asked:
I am starting a small flooring business with 0 employees. I plan to use subcontractors. What is the best way to keep everything organized as far as money going out and money coming in?
Osvaldo Foushee
I am starting a small flooring business with 0 employees. I plan to use subcontractors. What is the best way to keep everything organized as far as money going out and money coming in?
Osvaldo Foushee
Meh asked:
And how stingy can you get? I’m a Pilates trainer, but I also need to have training sessions at least twice a month to keep myself aware of what I’m teaching others. Could this be counted as a business expense? Or if, for instance, I only wear makeup when I go to business meetings (which is true), and not for everyday things like going to the grocery store, can I write it off as a business expense?
Pablo Warhola
And how stingy can you get? I’m a Pilates trainer, but I also need to have training sessions at least twice a month to keep myself aware of what I’m teaching others. Could this be counted as a business expense? Or if, for instance, I only wear makeup when I go to business meetings (which is true), and not for everyday things like going to the grocery store, can I write it off as a business expense?
Pablo Warhola