All Questions
Tagged with small-business expenses
10
questions
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95
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Can I claim the equipment cost as expenditure of my (small) business?
I am using freetaxUSA, but I am not seeing the result that I want, or maybe I am misunderstanding something.
I want to claim the cost of my GoPro as my business expense for my YouTube channel. I also ...
- 111
5
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143
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What counts as different sources of income?
I'm a freelance writer (in US), but I also do some freelance video editing, programming, and virtual assistance along the side. I'm wondering if each of this counts as a "separate source of ...
- 331
6
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3
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2k
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US: how to prove business expenses?
I'm a freelance writer who works from home. My internet fees should count as business expense and be deducted from gross, but the question becomes how much? Since I also use internet for entertainment ...
- 331
3
votes
1
answer
521
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How to track business mileage in GnuCash?
I have a small business which involves some driving to clients using my personal vehicle. I track both my individual auto expenses and my mileage in GNUCash but so far have only been using the ...
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1
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How can separate businesses account for shared expenses?
I have an LLC which holds two separate DBAs. Each business has its own checking account. Most expenses are distinct, but some, like office space and internet are shared expenses. How can I properly ...
user91716
1
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1
answer
118
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Tax Benefits of Business Paying for Personal Rent
Someone mentioned this to me but I didn't fully understand and would like more info.
I heard that a C-Corp being a one person shop (no other employees but the owner) can pay for the full amount 100% ...
- 225
8
votes
2
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4k
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In the U.K., can I deduct coffee as a business expense if I work from cafés?
I have a U.K. limited company of which I am the sole director and employee. I work from home most days, but I occasionally work at a local coffee shop when I need to get out of the house.
Can I claim ...
- 199
2
votes
1
answer
3k
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Square reported my credit card transactions as personal income?
I run a TNT Fireworks tent one week every summer and use Square to process my credit card transactions. I've had no issues with that setup until this year when I received a notice from the IRS ...
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-3
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2
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Does it make sense to incur a business expense just because it can be deducted?
I am trying to prove to myself that incurring expenses just for the purpose of writing them off never saves money. It is always better to not incur the expense at all if you can avoid it. This is my ...
- 16k
3
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2
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3k
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How to represent "out of pocket" purchases in general ledger journal entry?
If you use personal money to pay for expenses (advertising, equipmemt), how do you represent this in a journal entry? Normally, if the money was coming from the business, you would just decrease the ...
