Bookkeeping

Expense vs liability definitions, meanings, differences

By understanding expense categories, small businesses can identify areas where expenses vs liabilities they may be overspending and take steps to cut costs. Primary-activity expenses form the backbone of your operating expenses—these are the necessary payments that generate your core revenue. Think employee wages, sales commissions, utilities, and transportation. Materiality is a crucial concept in […]

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BIR Audits Social Media Influencers Tax Compliance for Content Creators

Finding an accountant that is actively helping you grow your business can be more difficult than you think. In our experience, it’s best to work with professionals who understand the needs of your industry instead of providing generic services. At Thomas & Co Accounting we work with influencers and content creators everyday – we know

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