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2017-02-18 Tax Law (Questions About Taxes) - self employment/busness: which income tax schedules needed?:

Roland,    Thanks for your question.    Report he income on Schedule C. If he has any expenses, they can be deducted there. Schedule SE is also needed. However, not all of it will be subject to the Social

2017-02-17 Tax Law (Questions About Taxes) - non-deductible contr to sep ira:

Trey,    Thanks for your question.     You need to be aware that, even though your plan is characterized as a type of IRA, it is, in actuality, an employer-sponsored retirement plan. Therefore, the usual

2017-02-17 Quicken & Other Budget/Accounting Software - Opening Balance:

So when the check was written to petty cash to reimburse it,  what expense category did you use  to code that check?   Whatever that expense account was,  that is the one you need to use.   You should

2017-02-17 Quicken & Other Budget/Accounting Software - Opening Balance:

First, You have to determine where $550 came from.   Last year what was the policy of the company to replenish petty cash   Did they write a check and cash it? or did they NOT Deposit Revenue?   If neither

2017-02-16 Tax Law (Questions About Taxes) - loans:

Crystal,    Thanks for your question.    The bottom line is that this is a loan on your personal residence with the proceeds not used to buy, build, or improve said residence. As such the interest is not


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