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    4 Replies Latest reply on Apr 24, 2009 5:08 AM by alexade

    Business Expenses

    start_up Wayfarer
      What routines do people use to manage expenses? Do you meet with your CPA every month, review them yourself every week?
        • Re: Business Expenses
          LUCKIEST Guide
          Business Expenses

          You do not want to share with us. You have not gone to Members page and shared any info.

          When you do, I will be happy to answer your question about Business Expenses.
          • Re: Business Expenses
            Lighthouse24 Ranger

            I manage by project -- so every project task and activity has an expense budget associated with it, and the goal is that every task be completed at or under budget. Anything that's at risk of running over is tracked/reported as an exception, and that prompts a meeting to address it. So it's not really a "routine," as much as it is just carefully planning what's supposed to happen, and then if it's not, dealing with it immediately.
            • Re: Business Expenses
              eZeeTax Wayfarer
              Meeting with a CPA every month? You must be doing a very lucrative business if you meet with your CPA every month to discuss expenses.

              Try revieing expenses every week yourself, the more you know the better decisions you can make.
              • Re: Business Expenses
                alexade Newbie
                Every business incurs expenses. Even independent contractors,
                consultants, and freelancers pay for software, computers, or travel out
                of their own pocket to make their jobs easier. For incorporated
                businesses, being able to deduct expenses will reduce their business
                taxes. For sole proprietors, being able to deduct expenses has an even
                bigger impact: business expenses will reduce both the regular income
                tax and the self-employment tax. The bottom line? Keeping track of all
                your business expenses will go a long way to reducing your tax