I'm so stupid, I signed up and got the Zot.

[hk409]

THIS SITE IS ZOT!

GIMME A BRAKE ALREADY! YOU GUYS MUST BE THE BIGEST MORONS ON THE WORLD! THE BIGEST MORONS NEXT TO THAT SOFTWARE COMPANY I USED TO VISIT SIX YEARS AGO! OY YOY! YOY! YOY! YOY! YOY! YOY! YOY! YOY! EACH TIME I TRYED TO POST SOMETHING NO MATTER HOW SMART! NO MATTER HOW CONSERVATIVE! EVEN IF I BEND OVER BACK AND DO BACK FLIPS AND THEN BEND OVER FOR THAT DUMB LIBERAL WE UNFORTUNATELY ELECTED! EVEN IF SPELL CHECKER ARE WORKING I STILL GET THEN KICKED OFF!! THEN ZOTTED!! WHY? IS IT JUST BECAUSE I WRITE SO BRILLIANT? BOB RUNS THINGS HERE!? OKAY. OKAY. OKAY. OKAY. OKAY. MAEYBE PEEPLE LIKE JJFATE AND NOAH HORSEFLY IS ASKING FOR IT BUT WHAT ABOUT ME!

[NicknamedBob]

1.) Cash
2.) Charged against regular business costs
3.) Charged against advertising or debt collection

[tuliptree76]

Here, they don't care. Other TAs dress in jeans. I might as well join them.

[Dead Corpse]

Eerie. I can't find the distiller that makes Rumplemintz. Anywhere. At all. This stuff may be springing into being from some extremely odd quantum fluctuations. That bartenders and liquor store owners have been keeping this secret is bigger than Roswell with potentially more far reaching consequences.

What else just pops into existence spontaneously?

[A CA Guy]

Great theory, but they are always deducted as used.

My understanding from friends who are managers at the local IRS that they don't investigate office expenses much unless you have more than 10k a year.

One dumb thing is to claim 50K a year in car miles as a write off.

I knew somebody who did that and that was a red flag that got them investigated.

[TheBrotherhood]

>You would *have* to ask a basic question from a class that I didn't teach and took about 10 years ago. LOL!

Ok. What's a debit?

"But an expense is a type of expenditure - it could be money or other resources that the business incurrs."

An expenditure is the purchase of capital assets, which will, over time, be depreciated as expenses.

Anyway, an expense is an expired cost.

I haven't read this stuff in ages.

Anyone needs an accountant, let me know. All financials prepared in accordance to latest GAAP.

My specialty is fund accounting, however.

[A CA Guy]

Dressing well will always be an advantage for you.

[NicknamedBob]

"What else just pops into existence spontaneously? "

Democratic candidates for presidential office.

[tuliptree76]

My specialty is taxation, but I'm teaching managerial right now.

[TheBrotherhood]

tulip,

prepaid expenses, as the term implies, is an expense and will be matched against revenues in the current period.

What you thinking of is deferrals such as prepaid items, eg, prepaid insurance, which will benefit more than one accounting period.

[tuliptree76]

I shall keep my mouth shut now.

[Dead Corpse]

Dude. Don't equate the two. You'll ruin the romance of Rumplemintz for me if you do...

[tuliptree76]

I better get some sleep. Good night.

[TheBrotherhood]

I hate taxes.

The only thing I can remember from the Code is (paraphrasing here): All worldwide income is taxable, unless exempt. That includes income from illegal activities, of course.

[NicknamedBob]

Sorry! Didn't mean to let Politics enter into a serious discussion.

[Dead Corpse]

G'Night...

[Dead Corpse]

Naw... it's just that one of the first few dates Zon and I had, we went on a hayride with a bottle of Rumplemintz.

[NicknamedBob]

I never report my illegal income. The IRS can bite me.

The fact that I never have illegal income has nothing to do with it.

[TheBrotherhood]

Good night tuliptree76.

[TheBrotherhood]

I doubt many are reporting it.

[Dead Corpse]

900?