I use QuickBooks 2003, not an online version. Here is a 2 part question:
I live on Maui and have an incorporated business in the tourist industry.
The direct result of the wildfires has been a loss of income. Starting in 2024, for at least a couple
months, I'll need to withdraw money from a personal or retirement account to cover payroll/expenses.
This is a question for a tax professional, (working on that) but someone here may have some insightβ¦
Since the reason for this deposit is caused by a hardship, perhaps an "act of god" (not sure about that classification), is there any way to soften the blow, is it a charitable contribution, other thoughts?
Then, how do I record these transactions in QuickBooks?
Looking for input on either question... Thanks
