Category Archives: Bookkeeping

Is Accounting Equation an Ideal or Reality?

Is Accounting Equation an Ideal or Reality? by SteveJ (UK) I have a situation where my business went through a reasonable period. It has recently not been doing well. In the good times I bought assets which went on the book and have gradually depreciated. I’ve never owed money (except chump-change on credit cards; paid [...]

Where To Show LLC Partner Payments

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School Balance Sheet Assignment

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Tax Payments

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Bookkeeping 101, Increasing Your Knowledge of Bookkeeping

Bookkeeping 101 will teach you much more than the bookkeeping basics. Here you will find help and information on everything from setting up a chart of accounts to preparing financial reports. You can get started learning right away by clicking on any one of the links below… Accounts Payable The accounts payable account is used [...]

Highly Recommended

Highly Recommended by Noah Stephanie is absolutely amazing at what she does. Without her I would probably still be using some software on my own and feeling unsure about my tax returns being done correctly. She instills great confidence, is incredibly detailed and has great time management skills. I highly recommend her.

A Lump Sum Withdrawal From My 401K

A Lump Sum Withdrawal From My 401K by Tim (Phoenix AZ) I took some of my 401K money to purchase a townhouse. The amount was 55,000.00. I did pay tax on that money. Now when just starting my federal tax return it looks like I will be paying the Feds over 7000.00. My intent was [...]

Can I Deduct The Cost Of Second Home?

Can I Deduct The Cost Of Second Home? by Bob (Virginia) I purchased a second home for personal use only. I got it at a certain price because it was not habitable. I spent 21000 on things like roof, mold removal, ect. Is that expense deductible?

FIRE INSURANCE PAYOUT

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Deduction

Deduction We had the foundation sink on our house. The concrete slab sank 4-1/2 inches which left moisture in the house. Our house was filled with mold and had to put 45,000.00 in the house for repairs to make it safe to live in. Is there any way we could recoup any of that money [...]