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Expenses if your paying out for repairs / maintenance - Income is you are paid for undertaking repairs
Interest expenses are tax deductible.
What income you had. What expenses by type you had. What your family situation is (married, dependents, etc).
(income tax)
Income tax
Expenses if your paying out for repairs / maintenance - Income is you are paid for undertaking repairs
Interest expenses are tax deductible.
A plan of income and expenses is an approach to building income and paying down expenses. Many people maintain a plan for their income and expenses without realizing it.
What income you had. What expenses by type you had. What your family situation is (married, dependents, etc).
Income tax
(income tax)
Dividends are income to the receiving corporation. If it is a sub-chapter S corporation, it is income to the shareholders, as is any other income of the corporation.
Sales - cost of goods sold = gross profit. - operating expenses(i.e marketing expenses and administrative expenses) = operating income. + other income - other expenses = income before tax - tax = net income/profit.
Travel expenses are expenses as all other normal business expenses and as all other business expenses are part of income statement traveling expenses are also part of income statement.
Net Profit is the relationship between income and expenses. Simply put NET INCOME = Total Revenue - Total Expenses. For a merchandising business (one that sells products instead of services) the formula is a little more complex. Total Revenue - Cost of Merchandise Sold (this is another formula) = Gross Profit Gross Profit -Expenses = Net Income If you are talking about a corporation you would also have to subtract Federal Income Tax before determining Net Income
Figure out your income,List your expenses,Categorize your expenses,Determine if expenses are below income, and Reduce expenses in flexible categoris if nessecary.
Plan income and expenses.