Lazy or Legal?
🔥 Lazy or Legal? Let's Talk Schedule L 🔥
Balance sheet MIA? You're not alone. One of the most common mysteries in small business bookkeeping:
“Why is Schedule L completely blank?” 🤔
Let’s break it down without breaking your brain:
Balance sheet MIA? You're not alone. One of the most common mysteries in small business bookkeeping:
“Why is Schedule L completely blank?” 🤔
Let’s break it down without breaking your brain:
💥 3 Truth Bombs from the Episode:
🧾 Schedule L isn't required for S Corps under $250K in sales or assets. That’s not lazy—it’s legal.
🔎 Rebuilding a balance sheet? Start with cash 💵, loans 💳, and plug retained earnings. Boom. Done.
🤐 Stop calling accountants lazy (even if you really want to). They're following the rules... mostly.
🧾 Schedule L isn't required for S Corps under $250K in sales or assets. That’s not lazy—it’s legal.
🔎 Rebuilding a balance sheet? Start with cash 💵, loans 💳, and plug retained earnings. Boom. Done.
🤐 Stop calling accountants lazy (even if you really want to). They're following the rules... mostly.
✨ This episode had us learning, laughing, and low-key rethinking our name-calling habits.
📊 If you’ve ever stared at a blank Schedule L and screamed internally—this one’s for you.
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