Yes, and you use the 1099-NEC
You also need the contrator to fill out and sign a form W-9, downloadable form from the IRS. The W-9 provides you with his tax num...
Create an income type account in the chart of accounts called Gain/Loss on assetsthen journal entries
debit gain/loss and credit the fixed asset account for the...
Profit distributions mean you are a shareholder in a chapter S corporation.Regardless though, other than a C-corporation.
,owners/shareholders are taxed on the ...
Yes, the bank is loaning you the amount of the overdraft.
I would create a liability account for the overdraft loandeposit the bank for the amount and use the l...
In the chart of accounts, create the new fixed asset type accounts for what you are buying, and an accumulated depreciation account for each. Also create an exp...