Such as not showing depreciation. Is this true and if so what other items can be tweaked for a business p&l?
123597
That is called creative accounting. Think Enron, only on a very small scale :o)\n\nSure, others are doing it and maybe not getting caught. It all depends on your ethics, or lack of it. If you do it, just pray hard that IRS not audit your tax returns.
52709
depends on what method you choose and what kind of machinery. also if you take additional first year depreciation.\n\nsee irs.gov
470548
Time consuming\nErrors likely\nCan be costly (paying someone to do the accounting)\nWaste of cabinets
635834
I haven't done this in forever, but I'll try.  If I get something egregiously wrong, let me know via email.\n\nIn the interests of laziness, I used M instead of MM for million.\n\nIn time 0, there's\n-15M\n-150k\nSum = -15.15M\n\nIn year 1,\nthere's\n-1M from fixed costs\n-5.65M from change in NWC (58M in sales -> 5.8M total)\n+8M from (sales - VC)\n-2.8M in tax\n+1.5M from deprecation tax shield\nSum = .05M\n\nIn year 2,\n-1M in fixed costs\n-2.9M from change in NWC (87M in sales)\n+12M from (sales - VC)\n-4.4M in tax\n+1.5 from depr\nSum = 5.2M\n\nIn year 3,\n-1M in fixed\n+4.35M (43.5M in sales)\n+6M from (sales - VC)\n-2M in tax\n+1.5 from depr\nSum = 8.85M\n\nAt the end (still year 3),\nthere's\n+4.35M from recovered NWC\n+3.75M in salvage value (might be less if the book value is less than 3.75...I don't exactly remember how to handle this, but it might be 60% depending on if the sale is taxed from whatever cost basis)\nSum = 8.1M\n\nSo, -15.15M + (.05M/1.2) + (5.2M/1.2^2) + (8.85/1.2^3) + (8.1M/1.2^3) = -1.69M\n\nThe IRR is relatively trivial from here.\n\nHm, so it's looking negative.  I'm not sure.  There's definitely something off in my calculations somewhere.  *shrug*
598416
Only a certified accountant could answer this for you---and surely you have one (?) and if not---you better get one-----The number of stores that you have---even the level of actual business you are doing has but certain input into whether or not your business is solid in its entirity---alot of factors go into this summary----Major companies with unbelievable cash flow go under on a regular basis for any number of reasons---too rapid in expanding being one of the culprits---assumation of debt loads beyond the business' capabilities is another---Major Repeat Problem with alot of business that fails is the fact that the people running the business are very familiar with their product or service and are emersed in that and have no skills or focus on the actual bottom line of the overall business---So there is no way anyone here can answer your question with any certainty---YOU NEED AN ACCOUNTANT---NOW
672427
You can improve by being honest with the customer  and listening to them.  Don't try to sell them something that they don't want.  Show them something that can save them money and talk about the benefits.
453740
Determine what % of the time you will use the computer for business.  That is the % you can write off your taxes.  Of course that % is open to interpretation by you so be generous with yourself.
384929
The invoice should have your own business details on it in order for you to be eligible to claim the VAT back. It may be worth seeing if the cash and carry will amend the invoice/account if the VAT is worth a lot. \n\nIf you cannot get the invoice amended the taxman may disallow you from recovering the input tax.
57287
Small busiensses tend to run out of cash fast.  So you really want to keep track of your cash flow.  Also look at if you have too much A/R.  Will you be able to pay your A/P.  How long does it take for your inventory to turn.  If you run out of cash, where can you get credit.  Good accounting can help you keep an eye on these issues to mange your business.
284571
If you are using this for a business purpose and can justify that to the IRS, and your employer does not reimburse this expense, then yes, you may deduct it, subject to the 2% floor (2% of your adjusted gross income)for miscellaneous itemized deductions.
641342
Before you decide, check out the P.A., Professional Association.  In certain states, it is exempt from Franchise Tax.  The LLC can avoid double taxation of dividends, but you would most likely be able to avoid that by paying yourself rent on the building you own personally, reimbursing all business travel on your own personal automobile, etc.
390741
If a business has a large amount of receivables this would show profit on the Income Statement but not affect cash. \nAlso, if the company took on new debt, it hasn't affected cash or profit, but will affect it when it comes due.\n\nIt isn't important that a business have a profit every month. What is important is that the business is growing and has potential to be profitable. If the company is a start-up, it may show a loss. This is far better than company that used to be profitable and has a shrinking profit margin, possibly with a small profit. Especially if the small profit is from capital gains and not operating gains.\n\nI think that one measure of a company's size is ownership. A company could have a relatively large amount of revenues and still be considered small because it is closly held. As far as a revenue amount, I don't know where the line is generally drawn. I think its a relative thing. A business is compared to others within the industry.
496665
You could make a substitution of cash for the stocks. I'm not sure you can do the substitution of cash for stock that is owned by an LLC. I think that this would be considered a sale by the LLC of the stock for the cash. You could probably get around this by distributing the stocks from the LLC to the members and do the substitution. The distribution of stock by the LLC to each member should not trigger a tax. The members would take the LLC basis in the stock.\nThis is a fairly complex transaction so I would recommend a session with a CPA or tax attorney to verify the answer.
245032
This issue may seem easy. However, it is not. It depends upon several factors: the type of business, whether the business is a particular type of corporation, frequency of business transactions within Virginia, the duties and responsibilities of the employees, etc. I would suggest to go to an Business Tax Consultant/Accountant. You can also consult the IRS government website.
135294
You can not conceal the income because its recorded in Bank. The best way is the investment in certain specified things to take the deduction.\n\n     Avoiding tax by legal means should be though and not avoiding by all means which will put you more in problem because there is both penalty and prosecution mechanism under I T Act.
276116
I am a CPA working with realtors.\nYou can deduct auto expenses (per mile or actual expenses, but not both), fees paid to broker, advertising, office supplies, meals with clients (at 50%), telephone, internet, depreciation of office equipment and furniture, professional licensing fees, continuing education fees, insurance (not health), contract labor and / or salaries paid to employees, interest on business credit cards or loans, legal / accounting fees, office expenses, rent or lease payments for office or equipment, repairs and maintenence of business assets, supplies, taxes paid (personal property or other business taxes), travel, utilites paid, postage.\nThe list could be endless.  If you are really unsure of how to proceed, contact a professional who could make it a lot less painful.  The state you reside in is also a factor.
116936
Your accountant has to fill out a schedule D for your trading transactions.  It must list every transaction individually.  That is why it is necessary.  Because of this, some brokerage firms now have downloadable 1099's that interface with tax software.  Eventually they all will.\n\nGood luck.