Tax Question & Expenses

[GrassRoots Lawn Care]

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]

I would guess under equipment expense.

[John Allin]

If you have these types of questions, it's time to see an accountant.

[Majestic]

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.

[jay]

Wages/Salaries/Benefits
uniforms
GARBAGE
Equipment
CELL PHONE
Advertising
Supplies
Services
Maintenance/Repairs
Shipping/Postage/Delivery
Travel Expenses
property tax
Insurance
BUISNESS Telephone
Utilities
Taxes
Loan Insterst
MILES
DMV Fees

[SummitFarmer]

Let's not forget depreciation on equipment!! There is also:
Sub-contractor Services
Rent Expense
Dues and Subscriptions
Equipment Rental
Legal and Accounting

[65hoss]

John is correct. You need to make an appointment immediately with a CPA!

[Matt]

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.

[VLM]

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.