4 posts shown.
Hey everyone! Could someone give me a quick "Accounting 101" refresher? If I take some cash from the register and deposit it into the business checking account—specifically when filling out a deposit slip—should I record that as a cash receipt or a bank deposit?
Thanks!
Hey everyone, I was wondering—can I count business taxes and those Chamber of Commerce membership fees as deductible expenses on my KPI? Also, should I be booking bank interest as income?
Thanks!
Hey everyone—quick question for the group. Has anyone here ever tried to list handmade tools, like a custom saw I built myself, as business assets? I’m trying to figure out how to actually pin down a fair market value for gear like that. More importantly, though, how do you justify it if an IRS auditor shows up at your door and you don't have a formal receipt or official documentation for everything? Any advice would be huge, thanks!
Hey everyone! A buddy of mine runs his own small business—just a side hustle, really—and he’s looking to bring on some extra help part-time over the summer. He's stuck on the best way to handle the paperwork: should he go with a simple independent contractor agreement, or just put them on the payroll? Since his business doesn't bring in massive profits, he's a bit worried about how the overhead and taxes will hit him. Does anyone know what the standard minimum gross salary looks like these days? I'd love some advice or just to hear what you all would do in his shoes. Thanks a ton!