View Full Version : Tax Question & Expenses
GrassRoots Lawn Care
02-18-2001, 08:16 AM
Could someone please list for me the expense categories that the IRS wants for accounting purposes (ie Advertising, Office Expenses, Rent... ect.)? Are they the same as Schedule C expenses (we are a S Corp.)?
Also, where does one list gasoline expenses for your mowers and 2-cycle equipment? Not under auto expenses I'd assume.
Thanks in advance for the help.
Vandora Lawn & Landscape
02-18-2001, 09:18 AM
I would guess under equipment expense.
02-18-2001, 09:49 AM
If you have these types of questions, it's time to see an accountant.
02-28-2001, 09:26 AM
All expenses must be documented.If you have a computer they can be done on the spreadsheet.If you do not you can purchase a 13 column journal at any office supply store.(even Walmart).When we use to do it that way we used these headings.Equip purchases,Equip parts,gas&oil. misc.payroll&subcontracting,office,postage,insurance, professional fees(atty & acct.) Rentals,supplies,draw.
03-02-2001, 09:48 AM
Let's not forget depreciation on equipment!! There is also:
Dues and Subscriptions
Legal and Accounting
03-03-2001, 04:15 AM
John is correct. You need to make an appointment immediately with a CPA!
CPA is the way to go. Peaple pay us for our knowledge in our field, we pay CPA's for their experience in their feild.
Just spoke to the IRS last week and asked about the fuel for equip question. I was told to list this under supplies. As for the categories, I think the Intent is to organize your expenses, not to be absolutely precise. Acoording to the IRS any expense that is necessary for the operation of your business is deductible from your gross.
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