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Questions tagged [expenses]

a generic tag related to spending. To be used along with other related tags like accounting etc

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5 votes
0 answers
139 views

What counts as different sources of income?

I'm a freelance writer (in US), but I also do some freelance video editing, programming, and virtual assistance along the side. I'm wondering if each of this counts as a "separate source of ...
No Name's user avatar
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3 votes
0 answers
46 views

How Should a US Expat in Vietnam Optimize Compensation Package to Maximize Net Pay?

I may have the opportunity to work on a project in Vietnam starting in early 2020, and am hoping to get some advice on how I should negotiate my compensation package with regard to taxes. I am a US ...
dikuw's user avatar
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2 votes
0 answers
124 views

GnuCash: How to create an expense report from individual accounts

I'd like to calculate my average monthly spend over a year from an individual asset account to an individual expense account. Is there a way to do this please? In the Expense Over Time report I can ...
Jackie B's user avatar
2 votes
0 answers
47 views

As a UK LTD Company should my allowable expense claims be inclusive of VAT

I'm starting a LTD company in the UK and have a question surrounding the way that allowable expenses are claimed. I understand that this question has probably been asked numerous times but no matter ...
George Davies's user avatar
2 votes
0 answers
178 views

Can you claim past unclaimed expenses from previous years on a rental property?

My question is the following: Let's say I have some repair renovations that were performed in 2016 that I never claimed in the 2017 tax year (because I had enough expenses to fully balance out the ...
Vlad's user avatar
  • 21
2 votes
0 answers
575 views

Maintenance costs for home geothermal heating & cooling / ground source heat pump systems?

My realtor showed me a brand new house that has a geothermal cooling and heating system built in. I did some online research and here is the link to that builder's geothermal system explanation. ...
Peter's user avatar
  • 21
1 vote
0 answers
24 views

Claiming an income-tax loss on property rental in ZA

I have a property which has been let out for the past several years. Last year the property was vacant for six months and there were also several expenses incurred for repairs - plumbing, electrician, ...
crowne's user avatar
  • 111
1 vote
0 answers
30 views

Approximation percentage of Administration costs based of Revenues

Sorry, I'm really naive about the finance and accounting fields. I'm trying to contribute to some Christian relief/missionary/medical organizations, and trying to go through their balance sheets, ...
crazyTech's user avatar
  • 113
1 vote
0 answers
28 views

How to report a C corporation's post-dissolution expenses?

We're filing 2019 Form 1120 for a C corporation (XYZ Inc). In January 2017 my cofounder and I incorporated XYZ Inc in Delaware and registered it as a foreign corporation in Connecticut. We dissolved ...
ma11hew28's user avatar
  • 507
1 vote
0 answers
169 views

Can You Switch Between Actual Expenses and Per Diem Expensing For Meals / Entertainment?

I currently report the actual costs for my meals and entertainment expenses on business trips. I am thinking about switching over to the Per Diem method. Are there any regulations against using both ...
Lloyd Banks's user avatar
1 vote
0 answers
50 views

Can I claim standard business expenses incurred earlier than the date my LLC was formed?

I want to form an LLC for my web development business. However, I incurred a bunch of expenses during the year that I'd like to be able to deduct. I know you can claim startup costs, but these are ...
mheavers's user avatar
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1 vote
0 answers
80 views

If I have a home office and report to a main office, what are the travel expense deduction rules?

I have a sales job where I have a home office and I report to a main company office twice per week. My job is to visit potential clients and visit/support existing clients. When I visit the main ...
Gary Chung's user avatar
1 vote
1 answer
2k views

GST and Per Diems.

As an independent contractor I charge GST for my services. When I travel outside of my home area for work I charge a per diem to cover meals and incidental expenses that are not itemized. It is a ...
jameslkieb's user avatar
0 votes
0 answers
90 views

Can I claim the equipment cost as expenditure of my (small) business?

I am using freetaxUSA, but I am not seeing the result that I want, or maybe I am misunderstanding something. I want to claim the cost of my GoPro as my business expense for my YouTube channel. I also ...
TheTechGuy's user avatar