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XYZ Corporation has a large amount in Deferred Salaries to the officers of the company. It is a small growing company and has not been able to pay out much in salaries. Should the Deferred Salaries...

Corporation XYZ consists of a husband and wife who are shareholders of the corporation. They are officers of the corporation and each get paid a monthly salary for those positions. The corporation...

If an officer of a company loans the company money, how should the rate of interest on this loan be calculated? At what rate?

One of three partners in an LLC lives in a different state from where the LLC is located. This partner works out of his home and bills the company for his electric bill that is portioned to his...

A company bought two new computers in 2006 and elected to use the section 179 deduction on the corporate taxes. One was purchased in July 06 and the other December 29, 06. On the one purchased in...

Company A is sending a check to Company B(manufacturing company) each month as a prepay to cover expenses. On the books of Company B upon receiving the check from Company A, the check would be...

A manufacturing is going to pay royalty payments each month to another company. What type of account should be set up for the royalty payments? Should it just be called royalty payments and be...