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I have a small photography business. When I purchase
I have a small photography business. When I purchase equipment or gear, how do I determine what is a fixed asset and what is an expense? … read more
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Second opinion] I have a client that started a home inspection business. He has been buying a ton of tools/laptops/equipment for his business. Can I expense all of them for 2020 and do I set each of t… read more
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Lev
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S corporation with 1 shareholder. The company bought a vehicle for business use in 2019 and they put a lot of business miles on the vehicle so they want to take the mileage deduction instead of the ac… read more
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I purchased a business on 12/26/2019 for 950k, 200k down and
Hello, I purchased a business on 12/26/2019 for 950k, 200k down and 750 seller financing. I created a single member LLC for it and have no other revenue or expenses for it in 2019. How would I report … read more
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In Quickbooks Desktop, I added a fixed asset in the fixed
In Quickbooks Desktop, I added a fixed asset in the fixed asset item list. However when I entered a journal entry to record depreciation, how come the fixed asset item list show no records?… read more
emc011075
emc011075
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I wanted to ask how you can keep items as a "fixed asset" on
I wanted to ask how long you can keep items as a "fixed asset" on your taxes. My wife does the taxes and I see how she has listed cars that are over 20 years old and we no longer own, as "fixed assets… read more
emc011075
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For bookkeeping purpose and tax preparation, how should we
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If a small business was bought for 10K last year, can that
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Second opinion] A bridal salon purchases dresses for display on their showroom floor. These are used to assist customers in selecting the style they want. Once the customer selects a style, then a bra… read more
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I'm foreigner and have a website (online service). I created Delaware C Corp, there are 3 founders, all of them are foreigner. The company doesn't have any employees. We plan to buy 3 laptops for us i… read more
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Dear Tax Professional, If a Company purchased fixed assets,
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Phillip B, EA
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We purchased a rv for the business this year. We travel different
We purchased a rv for the business this year. We travel different places through out the year selling are products at flea markets. On occasion we will also use it for personnal use. Can we depreciate… read more
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Fellow JA Expert Here --- I own a computer business that is
(From Moderator: Please leave in Tax category) Fellow JA Expert Here --- I own a computer business that is an LLC in South Carolina. This is the first year as a LLC (in the past I was sole prop). I us… read more
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I have an S Corp. My previous accountant under deducted on
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2005 Federal Tax Question about Small Business Expenses
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