About me
My name is Mike Granata (MG Financial Services CPA, LLC) and I'm a CPA with over 30 years of experience in accounting and taxes. I'm located in Maryland but have clients from coast to coast. Through the cloud, I can assist you with accounting, payroll, compensation issues and various tax filings. (federal, state, local, property, payroll and sales). Experienced in C corp, S corp, LLC, partnership and individual taxation. I offer great service at a reasonable prices and make myself available during the evenings. My experience has ranged from single owner businesses through billion dollar publicly traded companies and everything in between. Please visit www.mgfinancial.net for more information and pricing.
Mikeg ✭✭✭
Community stats
- Username Mikeg
- Email;
- Joined
- Visits 3,886
- Last Active
- Roles Member
- Points 383
- Badges
- 15
- About me
- My name is Mike Granata (MG Financial Services CPA, LLC) and I'm a CPA with over 30 years of experience in accounting and taxes. I'm located in Maryland but have clients from coast to coast. Through the cloud, I can assist you with accounting, payroll, compensation issues and various tax filings. (federal, state, local, property, payroll and sales). Experienced in C corp, S corp, LLC, partnership and individual taxation. I offer great service at a reasonable prices and make myself available during the evenings. My experience has ranged from single owner businesses through billion dollar publicly traded companies and everything in between. Please visit www.mgfinancial.net for more information and pricing.
- My site
- mgfinancial.net
- Posts
- 994
Reactions
-
Re: Recording Business Expenses Paid from Personal Account
@detailingking and @oklamy For item 1 - You would categorize the Payment to credit card (showing up in green) as deposit from Owner in the drop down. This is giving you credit for the payment that ma… (View Post)1 -
Re: Rent collected in one year for rental period begining Following year
@DSRB, You would follow your method of accounting that has been elected on your tax return. Most taxpayers are cash basis. That would require you to recognize the income in 2021 since that is when yo… (View Post)1 -
Re: Credit Card Accounting
@kylozen, Since you created a transaction for the laptop you would assign the "Account" on the transaction page to be Owner Investment. This creates the credit and the dollar amount creates… (View Post)1 -
Re: Rent collected in one year for rental period begining Following year
@DSRB, Depends on your method of accounting, cash or accrual. If you are doing this through your personal return i.e. Form 1040 as a single member LLC or personally owned, then you are on the cash ba… (View Post)1 -
Re: Recording a Business Expense Paid for w/ Personal Credit Card
@bisoldi, The journal entry you made is fine. Debit the expense and credit Owner Investment. You do not need to create a bill. Bills are use for tracking vendor invoices that are received but not pai… (View Post)1