| Re: asc asking for profit & loss statement-need advice
Yes you can, but it is always easier to have an accountant do the dirty work. Now the 5500.00 you have left over from the business after all expenses are paid. That is representative of what your husband could take home it he chooses to?
Because this is very, very important. The business must leave only the amount for monthly household bills after it pays all of its expenses and only its expenses. You need to make sure that the business expenses are totally different than the household expenses. So that what I understand is that in a 2 month period of time the business had 11,000.00 or there abouts left over after all of the business expenses were paid out? |