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If you used your personal card, then the LLC owes you some money. To take this into account in your own personal accounting: Debit: Accounts Receivable (LLC stuff paid with personal funds), XXX EUR Credit: Credit Card, XXX EUR And in your LLC accounting: Debit: Office Equipment Credit: Accounts Payable (paid with personal funds), XXX EUR Don't use the ...


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If the business uses cash accounting the income counts (as income) in the year it was received (year 1) and the payment counts (as an expense) in the year it was made (year 2). If the business uses accrual accounting the income counts in the year it became due (presumably year 1) and the payment counts in the year it became due (year 1). If you're not ...


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It's not quite precise to say that you're benefiting from depreciation. Depreciation is a real expense. It reflects a decrease in the market value of your asset. Expenses decrease income, which decreases tax, but paying less tax because you're making less money isn't a good thing. Depreciation schedules are in some sense a legal fiction. For many classes of ...


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