Category: Bookkeeping

  • Are Jobs required?

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    We can’t say that jobs are required information for the purposes of justifying the inclusion of an expense in your tax reporting. You should, however, cleave to the notion that expenses which do not include a category will be summarized in Schedule C under Cost of Goods Sold, regardless of whether you list a particular…

  • Bookkeeping 102

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    This will be granular. Some of you are ( politely! ) clueless about your expenses. What’s an expense? I’m serious. (skip this if you have already done bookkeeping) And here is the answer: an expense is information about money spent in pursuit of your business activities which is sufficient enough to create an audit trail… …

  • Bookkeeping 101

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    Yes, you can… All bookkeeping is, really, is making lists. You make two lists. One list is the list of money that you have earned. The other is the list of money that you have spent. At the end of the year, you add up all the values of each list to get a total,…