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Can I get a business expense tax credit for an apartment I rent during the work week?
Wiki User
∙ 13y ago
No. There is no tax credit available for personal apartment rental usage, even if the apartment is rented due to proximity to work.
Wiki User
∙ 13y ago
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During the month 900 of utilities expense was incurred on accounts by the business what is the account title for that transaction?
1. [Debit] Utility Expenses 900 [Credit] Cash / bank 900
Expenses incurred but unpaid that are recorded during the adjusting process with a debit to an expense and a credit to a liability are?
An accrual.
Incurred but unpaid expenses that are recorded during the adjusting process with a debit to an expense and a credit to a liability are?
An accrual.
The entry to adjust for the cost of supplies used during the accounting period is?
debit Supplies Expense; credit Supplies
What is a Depreciation Expense in accounting?
Depreciation expense is the process of reducing the cost of fixed asset during the fiscal life of a long term asset through annual fixed amount of expense charged to profit and loss account of business in which that long term asset is utilized in business to generate revenue.
Ethics of Corporate Business Travel?
The economic recession has led to many employers ending expense accounts or significantly tightening restrictions on business travel. Things that would have been easily written off as a business expense five years ago are being covered out-of-pocket by executives today. Don't get caught making fraudulent expenditures -- research corporate expense account policies and accountability before taking a business trip. Additionally, business schools are increasingly offering ethics classes about corporate business travel and expense accounts. Taking a seminar or reading a book about business ethics can ensure that all expenses incurred during a business trip are ethical and properly documented for reimbursement.
How To Fund A Business With A Business Line of Credit?
Small businesses should be aware that there is no way to pay for all expenses upfront. Some expenses are occurred during the start up. The monthly expenses that occur in the form of the product or service that is sold can become a substantial expense. A business line of credit helps business owners cover the cost of these expenses through a credit line that allows the owners to spend when needed.These lines of credit can be acquired through banking institutions or credit card companies. This is typically made in the form of a loan in which you are granted money to the account of your choice. Once the money is in your possession you also are responsible for paying the line of credit down. As you pay the credit line down the amount that you are eligible to burrow begins to increase again.It is great for businesses because they can pay for products on a monthly basis with the line of credit that becomes available without having to continually burrow money from a bank over and over again. It’s an easy way to build your credit as a business owner and keep funds readily available when they are needed.All of the funds may not be used, but it is a reserve that is needed in the event of an emergency. A business that is up and running can never have too large of a reserve fund. All business owners with a line of credit will have the ability to keep things running smoothly and continue to place orders in the event of slow business growth.To obtain a line of credit typically requires a good credit score. A higher score yields a higher limit. It can almost be compared to a credit card in this sense. The difference, however, is that the business line of credit is usually higher. This is usually because business expenses in bulk are much higher than that of a personal consumer’s credit card.In all that business owner can acquire a business line of credit is probably the most important asset. It helps the business grow tremendously in the early development stages.
How long does it take to get a credit card in the mail?
It should take about 5 business days! But it can take longer during holidays!
How can business credit lines help financially?
A business line of credit is accessible when a company has a cash flow problem. It can help during emergencies, when purchasing seasonal products, and to pay off accounts due even if the accounts receivable have not been paid. Interest is paid only when the line of credit is used.
How does a credit score financially affect an individual?
A credit score is only important during certain transactions in life. If you need a large loan for something, want to rent an apartment or apply for a credit card, you will need to have a good credit score in order to get approved or receive a more beneficial interest rate. However you typically don't need a credit score for daily life.
On gta iv can you unlock Dwayne's apartment?
Niko can enter Dwayne's apartment during cut scenes and a mission to kill Dwayne, but in ordinary gameplay he can only enter the actual apartment building, not the apartment itself.
Why need Business Interruption Insurance?
Business interruption insurance is to a business what disability insurance is to an individual. During the time that your business is suspended, due to an insured event, the insurance is intended to recover the lost profits and proportional fixed expenses. This should theoretically make the business "whole" during the suspension by reimbursing all of the continuing expenses. BEWARE insurance companies view depreciation as a variable expense, not ongoing overhead, and will attempt to exclude the depreciation on assets, whether destroyed or not, from any business interruption recovery.
