About Rustler

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About Rustler

3rd generation retired military, I ride and wrench on Harleys, and I am stubborn as hell, I work at it until I get it

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Solved Re: Paying a Contractor in Product Instead of Cash

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...

Rustler

Updated Oct 13, 2023
Re: How to record Insurance proceeds for a totaled vehicle

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...

Rustler

Updated Sep 30, 2023
Re: Tracking profit distribution tax liabilities

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 ...

Rustler

Updated Sep 30, 2023
Solved Re: How to Record Bank Overdraft Protection on QBO

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...

Rustler

1

Updated Sep 25, 2023
Re: Recording Fixed assets when using a loan to purchase and plannin...

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...

Rustler

1

Updated Sep 25, 2023

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