Knowing which expenses your LLC can deduct is fundamental to maintaining healthy business finances. Every legitimate business expense you properly document and deduct reduces your taxable income, ...

Companies that use accrual accounting often end up with deferred expenses on their balance sheets. That's because under accrual accounting, accountants recognize expenses when they occur, not when the ...

Companies record both income tax expense and income tax payable in journal entries. For companies that use the cash basis for both financial and tax reporting, income tax expense equals income tax ...

When your “expense tracking system” consists of pocketsful of crumpled receipts and several more digital ones buried in your email inbox, it’s time for a change. Many apps and services can help you ...

LLC expenses cheat sheet: 16 tax write-offs for businesses Knowing which expenses your LLC can deduct is fundamental to maintaining healthy business finances. Every legitimate business expense you ...