Posts by William Torres68

3 posts shown.

Accounting for Sole Proprietors: Tax & Bookkeeping Tips in Business, Accounting & Taxes · Feb 18, 2016

A cash receipt represents the total cash turnover deposited into the bank account. Cash transactions are recorded as cash receipts. Essentially, the receipt is the net difference in turnover on the account.

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Accounting for Sole Proprietors: Tax & Bookkeeping Tips in Business, Accounting & Taxes · Feb 18, 2016

Knez1974;57292406 said:
amberbadger17 said:Wells Fargo basically gives all this stuff away for free. They don't even charge you for things like that.

You can pull your transaction history from JPMorgan Chase—just go to your statement and input the dates from 01.01. to 12.31.

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Accounting for Sole Proprietors: Tax & Bookkeeping Tips in Business, Accounting & Taxes · Jul 9, 2014

I need some advice. A client just handed me a cash receipt for $2667 and wants to write it off as a business expense. He completely overlooked the $1667 limit.
How do you all handle these types of receipts? Do you claim them in full, reject them, or maybe just take a partial deduction? Is that even legal? To top it all off, he’s actually asking for a VAT refund on it.

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