Accounting Questions

I am a sole Proprietorship in California. Where can I find a list of acceptable or not acceptable business expenses I am allowed to deduct from my income. Do I need to reimburse myself in anyway...

Tax Accounting Expenses Sole Proprietorship

asked Sep 1 '12 at 22:13

Marco
130 points

Is it possible for a bank account to accept checks written to two different parts of an LLC? For example, I have ABC LLC, which operates at ABC.com, and I accept checks using both the ABC and ABC...

LLC Accounting Bank Account Account

asked Aug 23 '12 at 05:55

Nickelpickle
55 points

I run a small US-based startup, (an S Corp), I am also a contractor of this business. Am I able to withdrawl money from the main business banking account and pay myself (a contractor) without...

Independent Contractor Accounting S Corp

asked Jul 16 '12 at 06:22

User1062058
22 points

I am curious whether the person is liable to paying back any business loans taken from a bank for a business that they have. If the business goes out of business, does the load simply vanish? How...

Accounting Loan

asked Jul 21 '12 at 04:37

Genadinik
1,821 points

When calculating Gross Profit Margin, do you include the startup funds you raised in your net sales or just the sales you've made For example, should it look like: Net Sales.. ...Plus startup...

Accounting Profitability

asked Jun 2 '12 at 11:14

Rohit
1 point

I own a side company creating web apps. I formed an LLC, registered an EIN and opened a business checking account. Recently, I sold a copy of my software for let's say $10,000. Now, since...

LLC Tax Accounting

asked Apr 28 '12 at 08:13

Luckytaxi
177 points

I just started a business (startup) and wanted to do the right thing by having a bank account for the company and putting all the business expenses on the business account. Now, I am in NY and I...

Finance Revenue Accounting

asked May 3 '12 at 00:24

Ariel
138 points

I own and operate a company selling products online. A partner is stepping in and wants to sell our product line across it's websites. However, my company will accept the payments from the...

Finance Legal Financial Accounting Money

asked Apr 18 '12 at 00:49

Alexandre H. Tremblay
186 points

I opened up a business in October last year and the bank account was created today and I deposited $1600. I need to use $600 for my personal expenses. I don't pay myself a salary from the company...

Accounting

asked Apr 19 '12 at 06:38

Ariel
138 points

I have been asked by another company to build them some software to operate some machinery. The company sells this machinery to their own customers and wants to provide the software I write along...

Payments Business Model Accounting Billing Royalties

asked Mar 25 '12 at 05:37

7wp
275 points

I am thinking about starting a small charity to help find and support the "untapped Genius" in everyday people or people that might otherwise just end up in a dead end job or unemployed. The...

Business Model Tax Accounting Tax Structure

asked Mar 21 '12 at 11:15

Amin Brodie
39 points

I am currently an owner of a US based single member LLC in Delaware which is in the startup stage. I am a US citizen, for what it matters. Physically, I am living in Poland, which is part of the...

Outsourcing Accounting

asked Feb 10 '12 at 20:45

Ever Tabs
108 points

I live in a country where corruption and bureaucracy are widespread. Opening a business takes months and costs a lot of money, and will require one to hire somebody solely for handling all...

LLC Tax Accounting

asked Feb 15 '12 at 23:55

User
192 points

I am in the process of setting up an accounting "system" (well set of procedures etc). For most businesses, the books of original entry include: Sales Day Book Sales Return Day Book As I...

Ecommerce Payments Accounting Bookkeeping

asked Dec 9 '11 at 04:23

Morpheous
23 points

The older I get and the more I get into entrepreneurship, I find myself having to talk more and more with different type of lawyers and accountants. Does it make sense to establish a relationship...

Getting Started Legal Accounting

asked Dec 3 '11 at 05:28

Ricardo
4,815 points

We have registered a US LLC to help us get a US bank account. We are based in the UK, however we have some suppliers we import from in the US and we have clients who will purchase from us in the...

Finance Tax Accounting IRS

asked Nov 9 '11 at 22:24

Nikolay Piryankov
683 points

I do not have an accounting background so please excuse the point blankness of my question. I'm writing a business plan and saw that several sample plans include depreciation in their financial...

Business Plan Accounting Forecasting

asked Nov 11 '11 at 01:52

Martin08
113 points

I would like to know roughly how the payments are done if the company was started by two developers and me, owner. Let's say, I give them 10 % each, thats 20 % of the company's profit product....

Finance Business Model Business Accounting

asked Oct 26 '11 at 21:50

John
38 points

I just started up a mobile game company, set up Quickbooks online, and now I'm trying to read up on accounting. Right now I'm reading The Accounting Game. It's a great book and it makes really...

Finance Accounting

asked Nov 4 '11 at 17:19

Edgar Miranda
230 points

I want to register a small work from home business and do yearly audits. I have found a tax consultant and we exchanged more than dozen emails. After I asked him about where he got his...

Consulting Tax Accounting Small Business

asked Oct 24 '11 at 06:37

Sparkubullet
21 points