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Accounting & Bookkeeping & Small Business Forum
Accounting, Bookkeeping, Marketing, and Small Business Resource
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Guest
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| Posted: Wed Jul 02, 2003 9:00 pm Post subject: Trash Removal |
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Electric, heat, water, and trash can all be listed as utilities. Telephone is listed as Telephone Expense.
The correct answer is it depends on whether your sisters business is in her home.If her busines is in the home, dr owner equity cr cash. The office expenses will be taken later on her tax return.
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Guest
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| Posted: Thu Jul 10, 2003 9:00 pm Post subject: Trash Removal |
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| Her business is a deli and she pays it monthly. |
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Guest
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| Posted: Mon Jun 30, 2003 9:00 pm Post subject: Re: Trash Removal |
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| Victor: Trash, Electric, Heat, and Water would all be considered utilities. Telephone would be shown as other expense section of sch c as Telephone expense 2nd line and/or bus long distance. (the first phone line would not be deductible. I am assuming your question is how to report on your tax return. For financial reporting purposes, dr owner withdrawal and cr cash. Richard |
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