Personal VS. Business EXPENSES

Having your own small business has it's advantages. Expenses can be allocated to the business for tax incentives. Now that it is end of year, once the holidays are over, it is time to get ready for tax season. But how would you know what can be allocated towards the business and what expenses stay as a personal expense. Let us go over what qualifies as either or to make it easier to keep track of all your expenses. It is very important to separate personal and business. Keeping expenses organized with regular bookkeeping makes it easier when the information is needed.

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