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  #1  
Old 12-06-2013, 09:38 PM
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grass disaster grass disaster is offline
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deducting cash purchase

ok so. sole prop. llc company

i'm looking to buy a trailer.

hows a good way to run the $ on this?

I was thinking of writing a check from my lawn account make it to my personal account, write trailer in memo. then simply cash it.

That way i have record of the transaction.
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Old 12-06-2013, 09:51 PM
DEPENDABLE LANDSCAPING DEPENDABLE LANDSCAPING is offline
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Why would you not sim
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Old 12-06-2013, 10:13 PM
DEPENDABLE LANDSCAPING DEPENDABLE LANDSCAPING is offline
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Sorry,
Why would you not just cut a check out of your business account ?
Get a bill of sale and write it off?
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Old 12-06-2013, 10:18 PM
Southern Lawn Care, LLC Southern Lawn Care, LLC is offline
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Quote:
Originally Posted by DEPENDABLE LANDSCAPING View Post
Sorry,
Why would you not just cut a check out of your business account ?
Get a bill of sale and write it off?
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Makes the most sense to me.
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Old 12-07-2013, 09:57 AM
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grass disaster grass disaster is offline
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Quote:
Originally Posted by DEPENDABLE LANDSCAPING View Post
Sorry,
Why would you not just cut a check out of your business account ?
Get a bill of sale and write it off?
Posted via Mobile Device
its cl

he would not want a check i'm sure
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  #6  
Old 12-07-2013, 12:00 AM
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tonygreek tonygreek is offline
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Is this a situation of you over-thinking this or is there something we're missing?
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  #7  
Old 12-07-2013, 10:21 AM
Middle Tennessee Lawn Middle Tennessee Lawn is offline
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Your bill of sale on the trailer will be fine for IRS you can even buy trailer with personal money and repay yourself later as owners equity withdrawal. I run very diff. Than most I own all the business equipment not the bus. i depreciate nothing couple reasons why one when is tax liability when you sell a depreciatef piece of equipment. Fact is after fuel labor and materials and other expenses just do not need any more deductions. I like to keep taxes as simple as possible. But you are a corporation so your taxes are much diff.
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  #8  
Old 12-07-2013, 10:40 AM
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JFGLN JFGLN is online now
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You can loan the business money and pay yourself payments with interest. Talk to an accountant. Cash is ok. Just get receipts.
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Old 12-07-2013, 03:04 PM
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wbw wbw is online now
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Write him a check. Meet him at your bank where he can cash it or get him a cashiers check.
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Old 12-07-2013, 10:29 PM
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GreenI.A. GreenI.A. is offline
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When we buy something used for cash we will usually pay the small fee to get a cashiers check. If the person only wants cash, then I'll go into the bank and take out the exact amount. We then make sure to document it.
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