How to account for household expenses

The Ministry of Finance allows taxpayers that use the simplified tax system to account for all business expenses in full for the purposes of calculation of the single tax. While the costs for the purchase of household chemicals (toilet paper, soap, disposable paper towels, wipes, sponges for dishes, cleaning) also apply to the kind of expenses on economic needs. The main condition is that all of those expenses were documented.

Material costs typically include the costs of the taxpayer for the purchase of materials used in the production and economic needs (testing, control, operation, maintenance of fixed assets and other similar purposes).

With regard to the norms of write-off all business expenses in expenses, the cost of inventories, which are included in material expensesis determined only based on the price of their purchase, exclusively excluding VAT (value added tax) and excise duties. Including all commissions paid by the intermediary institutions, customs duties and taxes when importing goods, the costs of transportation and other costs related to the purchase of inventories.

All business transactions must be justified by documentation that serve as the primary accounting documents. It is on the basis of these documents is accounting. Thus, the primary accounting document should be prepared at the time of the transaction, if this is not possible - directly after its termination.

The production costs of products (services or works) are included in its cost accounting period, regardless of the time of payment of the advance (pre) or post (fee for subscription service, rent). Documents confirming the costs for these business transactions (in particular, long distance phone calls, or utilities) can be invoices of the company, which said services.