Accounting for Sole Proprietors: Tax & Bookkeeping Tips
in Business, Accounting & Taxes ·
I’ve got a question about taking donations from individuals and businesses. Basically, I run this project through my small business—it’s a social impact initiative—and people are actually looking to chip in and support what we're doing. Am I legally allowed to accept donations directly into my business account, and if so, how am I supposed to handle all that in my bookkeeping?
Thanks in advance for any insight or if anyone can point me toward where I should be looking for an answer.
Thanks in advance for any insight or if anyone can point me toward where I should be looking for an answer.