With business bookkeeping and basic tax tips for new and old entrepenuers

Saturday, October 31, 2009

Dues and Subsciprtions

Most people think about magazine subscriptions when they see this category. But this is not what this necessarily means. It includes any dues you pay to belong to an organization such as the Better Business Bureau, Chamber of Commerce or other type of business association. For apartment rentals, it would include apartment association dues or other real estate associations. Some dues may be a one time charge such as dues to Costco or may be a recurring annual or monthly charge.

Sunday, October 25, 2009

Insurance Expense

Insurance for your business would include liability insurance generally, but other types of insurance can be included, such was worker’s compensation and disability insurance. Car insurance would be included if a vehicle is for business use, however if you car is for personal use only, you would not expense that insurance on your books.

Wednesday, October 7, 2009

Other Taxes

Other taxes can include property taxes paid for personal property such as your office furniture etc. You may also have inventory taxes such as car dealers who pay a monthly inventory tax. This category can include any other taxes that you may not pay regularly, including penalty taxes.