During the course of running a club, you will of course run into cases where the club needs to spend money not dedicated to buying stocks, or paying commission on stok transactions. For those cases, you will want to enter an expense.
When entering an expense, one of the primary questions you will want to consider is "should this expense be deductible or not?"
While there is no absolute list of items that are or -are not- deductible, we suggest the following guidelines:
Deductible expenses are those associated with the basic operation of the club. This includes education (books or classes on investing), rental fees for a meeting space, membership dues for Better Investing, etc.
Non-deductible expenses would be anything extra. This could be coffee for the meeting, a birthday card for a member or a club luncheon.
If you aren't certain, then leaving an expense marked as non-deductible is the safest course of action.