[GNC] About bookkeeping and claiming non-currency expenses.

David Carlson david.carlson.417 at gmail.com
Fri Apr 17 16:08:42 EDT 2020


To Adrien's point, there are many cases where the expenses are covered by
other accounts such as fuel and maintenance for vehicles, but I was
addressing the cases where certain expenses have a different tax bucket
than the norm or possibly even off-the-books such as personal car used for
business, medical or charity.

And to address Christopher, another off-the-books income account would be a
way to offset the otherwise double charged expenses.

On Fri, Apr 17, 2020 at 11:29 AM Christopher Lam <christopher.lck at gmail.com>
wrote:

> On Fri, 17 Apr 2020 at 15:53, Rich Shepard <rshepard at appl-ecosys.com>
> wrote:
>
> > What I do for non-cash donations (to Goodwill, for example) is enter the
> > value in an expense account called 'Donations - non-cash'. You could have
> > expense accounts for milage and volunteer time if appropriate. (I have
> run
> > my consultancy from home for 27 years and have separate books for
> personal
> > and business transactions.)
> >
>
> But what lies at the other end of mileage? eg drive 20km for visiting
> client & back, claim $0.50/km, means you write $10 mileage claim for today
> and deduct what account?
>
> > For example, you have personal auto expenses that may or may not be
> broken out into R&M, Fuel, etc. Those are paid cash/check/charge and are
> accounted for in full
>
> No. e.g. auto expenses can be either percentage business use of car (i.e.
> labour intensive, track all motoring expenses) or simplified dollar per
> business km. I wish to claim for dollar per expense.
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-- 
David Carlson


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