In May two checks were issued as payment to a company and one of these checks was a duplicate payment. The company cashed both checks and issued a refund check for the duplicate payment. My records are made up of several accounts such as baby, accessories, toys, etc. How would I credit one these accounts back so that the budget of that account is correct and reflects what has truly been spent?
Home Buyer Tax Credit For Married Filing Separately
I qualify for the $6500 home buyer tax credit. We are married filing separately. Form 5405 says I can only collect $3250 if I file separately but my husband's name is not on the deed nor mortgage and I want to collect the entire $6500 on my return. How can I do this?
What is the best way to record a checking account and the revolving line of credit attached to it. The bank moves money every day to keep a certain amount in the checking account but I need to know the true balance of the checking account.
Using Business Credit Card/Checking and in Single Entry System?
I enter my charges from my business credit card into TinyBooks (single entry bookkeeping method)--they go as seperate tax deductible expenses for my business into various categories. Once a month i pay the credit card off in full from my business CHECKING accnt. How do i enter this payment into the single entry system? as a "non tax deductible reconciliation"? as an "owner draw"? as "personal expense? Any thoughts? what's the best way--since i pay once with a credit card and then pay again to zero out the credit card.
Also should i use my business checking to pay quarterly estimates and 1040 income tax--or is personal checking better?