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Advantage: none. Disadvantage: stupid. Keep proper records. You can't do this if you treat the cash register as a petty cash source. Keep a petty cash resource and maintain proper records of that. Bank what's in the cash register. Disregard all the above if you're anxious to go broke and also attract serious questions from the tax inspectors. the person that wrote this need to get a life and write some real answers ya noonga
What else can I help you with?
What type of an account is repair expenses or income?
Expenses if your paying out for repairs / maintenance - Income is you are paid for undertaking repairs
Keep Track of Business Expenses?
If you are filing a 1099, the best thing you can do is keep thorough track of all your business expenses. There are many cases in which a business owner or independent freelancer will be able to deduct certain business expenses from personal income. If you do not take the time to keep track of business expenses, then you may end up paying unnecessary funds toward these expenses in filing your taxes. A typical expense that business owners are able to deduct from income is a laptop computer. It is definitely worthwhile to figure out which expenses you can deduct from your income.
What is the money left over after paying your necessary expenses called?
Discretionary Income Discretionary income = Gross income - taxes - all compelled payments (bills) Reference: http://en.wikipedia.org/wiki/Disposable_and_discretionary_income
Entry for Provision for Income Taxes?
You will need two accounts: Income tax expenses (an expense account, obviously) Provision for income tax (a liability account) You will simply: debit provision for income tax credit income tax expenses When actually paying income tax, you will: debit cash credit provision for income tax
How much do I have to earn before I start paying federal income taxes?
If self-employment is your only income for the year, the filing threshold is $400 for the entire year. This figure is the total amount that you earned before your have deducted your business expenses. You will need to fill out Schedule C or C-EZ to document self-employment income and expenses.
Is paying back relocation expenses tax deductible?
Paying back relocation expenses is not tax deductible for individuals.
What is the worst disadvantage of watching television?
Paying the power bill
What is a plan of income and expenses?
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 type of an account is repair expenses or income?
Expenses if your paying out for repairs / maintenance - Income is you are paid for undertaking repairs
What does expenditure meaning?
paying out or spending
Who is the person entity paying for your trip?
The person or entity paying for your trip is the individual or organization funding your travel expenses.
Can a lawyer law be a billionaire?
Even the most high profile attorney is unlikely to reach billionaire status. Although lawyers do make substantial amounts of money, there are also big expenses such as paying interns, paying researchers, having a staff, paying off law school, and paying for office expenses.
Are business expenses deducted before paying child support?
Generally, yes.
In a given month Kala earns 445 and owes d dollars in expenses How much in dollars does she have left after paying for expenses?
445 - d
Can you be a member on clubpenguin with paying?
no. you can register, but you have to pay to decorate your igloo and buy clothes.
How companies make profits?
Companies make a profit when their gross income is greater than their expenses. Expenses can include renting equipment and paying employees.
Can you ask for documentation of real expenses when paying child support?
no, see link below
