The IRS defines tax deductible expenses as almost any “ordinary, necessary, and reasonable” expenses that help to earn business income. Deductible expenses are those that can be subtracted from a company’s income before it is subject to taxation. The following are 15 deductible business expenses for Hairstylist: Accounting Add campaigns Insurance Laundering towels Licenses Office… Read More

Non-profits that are tax exempt make money from various activities and the funds cover expenses. Income from these activities are generally essential to the non-profit’s survival. When a non-profit’s activities are associated with the non-profit’s purpose, all profits made from these activities is not taxable. Fundraisers Getting the word out for your fundraiser is the… Read More

Wikipedia defines a non-profit organization as: “a nonprofit organization (NPO), also known as a non-business entity or nonprofit institution, is dedicated to furthering a particular social cause or advocating for a shared point of view.” Nonprofits are charitable and do not pay income taxes on funds received by the organization. Usually, these organizations are churches,… Read More