Tis the Season - Understanding how the IRS views giving

‘Tis the Season: Understanding How Giving is Viewed by the IRS

It’s the holidays; the time that’s for being thankful; the time that’s for giving. It’s also the time for company Christmas parties, holiday bonuses, and giving gifts to our clients. One of the myths of holiday meals and gifts is that they are all deductible. Most companies don’t know that they are limited in the…

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chart of accounts

The What, Why, and How of a Chart of Accounts

Unless you are well-versed in the accounting and financial world, the concept of a “chart of accounts,” may be new to you. It really is not that difficult. Essentially, a chart of accounts is a list of categories for your various business accounts: cash and equity, assets and liabilities, income and expenses. Keeping the chart…

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