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Meal Expenses: Overview             In this lesson, we will look at some of the taxation rules related to business meal expenses. When a taxpayer incurs expenses for meals during the course of his or her trade or business, it is important to distinguish between meal expenses that are simply meal expenses, and meal expenses that

Buy Business Expenses for Sole Proprietors Training- Now Available from TeachUcomp, Inc.             TeachUcomp, Inc. is pleased to announce the release of our newest tutorial, “Business Expenses for Sole Proprietors v.1.0.” When you buy business expenses for sole proprietors training from TeachUcomp, Inc., you explore the taxation rules related to a variety of business expenses

Depreciation: Overview             Most companies own assets that have long useful lives. These can take the form of buildings, equipment, and vehicles. As explained in previous lessons, companies must follow the cost principle of GAAP (recording assets at cost). In order to allocate the cost of using the asset over a length of time, companies

In small business accounting, some concepts can be trickier than simply recording assets, liabilities, and transactions. Some companies receive advances in payments before actual services are performed. In accounting, this is called Unearned Revenue. Unearned revenue must be reported in order for companies to comply with GAAP* principles. When the company receives an advance, it