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    Mileage Deduction Scenario

    I often leave work at the end of my day to go to drop something off at another business (point B), and from there continue home.

    Can I deduct the work to point B mileage?
    Can I deduct the point B...
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    So there really is no benefit to having an S Corp...

    So there really is no benefit to having an S Corp over an LLC and elect to be taxed as an S Corp?
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    Ok I wasn't intending on committing fraud. I'm in...

    Ok I wasn't intending on committing fraud. I'm in the process of learning and like I said I know business owners do these things. I want to do things right, no point in risking being fined etc. to...
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    LLC taxed as S Corp vs S Corp

    What are the differences between being established as an LLC and electing to be taxed as an S Corp, and being established as an S Corp
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    i don't know any small business owner that...

    i don't know any small business owner that doesn't write off things that could be a business expense even if they're truly not... i'm not saying i'm going to write off my car payment or my grocery...
  6. Thread: S Corp in MA

    by sshibby
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    I guess I was looking for help filling out the...

    I guess I was looking for help filling out the form. Specifically this section...

    931
  7. Thread: Depreciation

    by sshibby
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    Depreciation

    Are all types of equipment, machines, etc. supposed to be depreciated or are there some exceptions where you can write off the total value right away?
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    i'm saying if i go to walmart and buy cleaning...

    i'm saying if i go to walmart and buy cleaning supplies for home, then i can pay on the business and write it off as cleaning supplies for the business...

    is there a reason i should have a way to...
  9. Thread: S Corp in MA

    by sshibby
    Replies
    2
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    3,016

    S Corp in MA

    I need to establish an S Corp in MA, any guidance appreciated...
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    Actual Profit vs Recorded Profit

    So as a small business owner you obviously write off expenses that may not be truly a business expense, cleaning supplies, meals, etc.

    how would you know what the business is truly making not...
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    My next question would be on paying myself. I...

    My next question would be on paying myself. I assume I can do that without using a payroll service or software and just writing my a check or scheduling a weekly/biweekly transfer? How would I make...
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    I was under the impression that I only have to...

    I was under the impression that I only have to pay myself a reasonable salary for work that I actually do. If I don't work there I don't need a salary.

    Although I will be the only regular...
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    Owners and Salary of S Corp

    My wife and I are purchasing a gym in a few months.

    I think I want to open it under an S corp for tax purposes.

    If the business is set up with me as the only owner would I be able to pay my...
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