What's the Difference between Business and Non-Business Categories?

Business categories are reserved for allocating tax-deductible Income and Expenses on the Schedule C as specified by the IRS.

Non-Business categories are reserved for separating transactions that are not tax-deductible and that you do not want to affect your Profit & Loss.

For more information about deducting business expenses, please refer to the IRS website below:

  • http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Deducting-Business-Expenses 

For more information about how to add a custom category, please refer to the following article:

  • https://help.bookkeeping.godaddy.com/hc/en-us/articles/223814607 

For more information about how to link a custom category to a specific tax line, please refer to the following article:

  • https://help.bookkeeping.godaddy.com/hc/en-us/articles/223814807 
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