 |
|
| Browse | Ask | Answer | Search | Join/Login |
|
|
||||
|
Startup cost - Worker comp insurance
LLC-sole propertior. I began operations on Nov 17, 2012. I bought $ 15,000 worker comp insurance for one year on Nov 8, 2012. Paid $7,450 deposit with my personal checking and 3 installments. My questions: 1. Is my insurance a starup cost for tax purpose? 2. How can I get reimbursed? 3. Are these entries correct?
Dr prepaid insurance 15,000 Cr account payable 7450 Cr insurance payable 7550 4. Do I need this entry for financial books Dr starup cost - prepaid insurance 7,450 Cr account payable 7,450 5 Do I need this entry for tax books Dr starup cost - prepaid insurance 5,000 Dr deferred starup costs 10,000 Cr account payable 7450 Cr insurance payable 7550 please help me!! |
||||
Check out some similar questions!
If the physician I work for is committing Worker's Comp Fraud what are my responsibilities as an insurance biller & coder and how should I handle this situation?
My sister husband was and office who died in the line of duty. His death was deemed work related, therefore, she receives monthly checks from the workers' Comp division of her husband job titled death benefit. Well, they end up sending her a 1099-misc, with the total amount reported in box 8. ...
Hi, I am the caregiver for my brother who was seriously injured in a work related accident two years ago. My brother suffered traumatic brain injury, is severely disabled and wheelchair bound. Today I discovered that the claim adjuster called my brother's doctor to schedule a follow-up...
Hi, Can anyone tell if you go back to work on restrictions from a injury at work and at the time you come back your making the same pay per hour that you left at,but one year down the road your union votes to have your wages cut by 25% from 20.00 dollars to 15.00 dollars ,if you are still on work...
If you received ttd payments and then later found out that your employer did not use the correct wage statement, meaning they did not use gross wages but net wages instead. This causing a lower ttd payment than what should have been, will they have to reimburse you for this underpayment?
View more questions Search
| Question Tools | Search this Question |
Add your answer here.
|
