The Small Business Tax Help Blog

Posts Tagged ‘Business Expenses’

Question: New Years Resolution: Save money rather than spend and get into debt: any free spreadsheets out there?

im not talkin about loans on a house or condo, just loans on stuff other than land/houses/condos. (My partner and I own a condo and are making more than the required minimum payments on our mortgage) Are there any good websites or spreadsheet templates on the net that itemise your goal for you on an annual basis? I want to get rid of my credit card debt of $12k and save enough money to start a small business (my partner doesn’t know about either of these otherwise he would explose). I would still work in my crappy job so my expenses are covered and to have an income stream…just that I want to pay off my credit card debt without my partner knowing and then start a small business and tell him when the business is off the ground. So I need the spreadsheet for both these things.

Answer: www.msn.com used to have many spreadsheets for use for free. Or try www.money.com

Complete Hospital Manager Software with Accounting and Inventory Control

Question: Can i give my subcontractor a company credit card for any of my business expenses?

Can i give my subcontractor a credit card to pay for my business expenses? Or would doing this clasifiy him as an employee?

Answer: He could still be a subcontractor. The IRS has rules to disallow some people if you treat them like an employee.
As long as you don’t do things like schedule his time or having him work exclusively for you, allowing him a company credit card shouldn’t matter.

Measuring Business Income 2-Adjusting JE Assets & Expenses

Question: I use my personal bank account for my business often (even though I have a business account)?

…How do I record those expenses from a personal account for business use in QuickBooks Simple Start? Should I add a new bank account, or record everything in my business checking register and just indicate it was owners equity? I normally track all personal account business expenses with an excel spreadsheet-so I have two sets of books–which is confusing at times. How should I correct this?

Answer: Each time you use your personal account to pay for a business expense, you should record it as a loan from owner, a liability the business owes to you. When you reimburse yourself from the business account, the loan is debited. Recording it as owners’ equity is not a good idea.

Small business adviser | Keeping cash flow in control

Question: My business earned a profit of $25,000 in 2010, but I have no money in the bank. How can that be? Answer: Your question addresses the difference between profit and cash flow. Understanding these two financial concepts is critical to running a successful business.

Summarizing budget data with a PivotTable: Excel 2007 Creating Business Budgets from lynda.com

Question: Is there a Mac version of Excel?

I have a Apple Mac computer less than a year old. It didn’t come with word and Excel. It has Apple software, but I don’t know much about it. There are lots of applications on here but I have no idea what they do. Is there a Mac equivalent to Excel that may already be on my Mac? Or is there a free program I can download somewhere? I just need a simple spreadsheet that will add up the accounts for my business if I put in my sales and expenses each day. At the moment I write them in a book and use a calculator and it takes ages.

Answer: You can try Open Office or Neo Office, which are free, or buy MS Office for Mac. The latest version is Office 2008.

Steps to improve finances in 2011

The holiday trim has been packed away. The parties are over. That New Year’s resolution to lose 10 pounds? Abandoned. It’s not too late, however, to resolve to improve financial health in 2011. We’re not talking about run-of-the-mill resolutions.

Business Plans : How to Write a Budget for a Business Proposal

Question: Good Invoicing/Purchase order/Estimate Program?

So my father and I run a small Marble and Tile business. Basically, for a while, we have been using MS Excel templates for invoicing. I am looking to up it up a little bit since we are growing. Is there a good program out there that will allow me to create a purchase order, estimate, and invoices, and sort them by date and customer. Another thing is that I would like to be able to easily organize all my previous purchases from different tile/material providers. Also, adding in a Quicken like bank feature would be nice. I guess I am looking for a very good overall expense program. And I have tried using Quickbooks, and it seems to do everything I need, but I just don’t really know how to set everything up, so if anyone has any similar programs, or advice on how to use Quickbooks, then it would be greatly appreciated!

Thanks!

Answer: your accountant should be able to help you setup quickbooks. you may also want to look on youtube or google searching for quickbooks training.

quickbooks is the program you need… learn to use it.

SutiSoft Announces a New Release of SutiSign, its Web Hosted and Enterprise Solution for Obtaining Electronic …

SutiSoft announces SutiSign 3.0, a new release of its eSignature solution which makes the process of sending and signing documents easier. (PRWeb November 16, 2010) Read the full story at http://www.prweb.com/releases/2010/11/prweb4793424.htm

Google Docs: Sharing House Expenses