Business, types, Write, expenses, Opening, wondering


Question by Ken: Opening a business and wondering what types of expenses I can write off?

I am opening an online business for website design. (set up as a LLC, I'm the sole owner) Should I start keeping receipts of all business related expenses? Or would my business qualify as a hobby if I don't make a certain amount of money in the year that I'm filing.

What types of things can I write off onto my business? (dinners, gasoline, etc.) Do I need a seperate business credit card/bank account for the expenses?

Do I have to accept payments towards the business's services through a corporate account, or can they make the check/payment directly to me?




Best answer:

Answer by castaneda0097
Best thing to do is to hire an accountant that knows alot in the subject of opening a business. They have all the info you need to start up your business properly. Another thing is to invest in quickbooks; with very little effort you will be able to handle all of your record keeping tasks.

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