Misclassifying Expenses

𝗕𝗼𝗼𝗸𝗸𝗲𝗲𝗽𝗶𝗻𝗴 𝗠𝗶𝘀𝘁𝗮𝗸𝗲: 𝗠𝗶𝘀𝗰𝗹𝗮𝘀𝘀𝗶𝗳𝘆𝗶𝗻𝗴 𝗘𝘅𝗽𝗲𝗻𝘀𝗲𝘀

Not all expenses are created equal,and mislabeling them can cost you.

 Office supplies - client meals - contractor payments. Each of these has its own category, and more importantly… its own tax treatment.

When you lump things together or guess where they belong:

- Your financial reports become unreliable

- You risk missing out on deductions

- You increase the chance of a red flag during an audit

 𝗔𝗰𝗰𝘂𝗿𝗮𝘁𝗲 𝗲𝘅𝗽𝗲𝗻𝘀𝗲 𝗰𝗮𝘁𝗲𝗴𝗼𝗿𝗶𝗲𝘀 = 𝗰𝗹𝗲𝗮𝗻𝗲𝗿 𝗯𝗼𝗼𝗸𝘀, 𝗯𝗲𝘁𝘁𝗲𝗿 𝗱𝗲𝗰𝗶𝘀𝗶𝗼𝗻𝘀, 𝗮𝗻𝗱 𝗳𝗲𝘄𝗲𝗿 𝘀𝘂𝗿𝗽𝗿𝗶𝘀𝗲𝘀 𝗮𝘁 𝘁𝗮𝘅 𝘁𝗶𝗺𝗲.

Don’t leave your chart of accounts to chance.

 Let Young Ledger Co. review your expenses and keep everything properly organized, year-round.

𝗧𝗮𝗸𝗲 𝗮𝗰𝘁𝗶𝗼𝗻 𝘁𝗼𝗱𝗮𝘆