About Amanda Cameron

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You need to know how long to keep business receipts for your small business.

How Long to Keep Business Receipts

If you find yourself tossing receipts left and right, you may want to think again. As a small business owner, keeping receipts is essential for your financial records. And not being able to locate a receipt can be problematic for your business. You need to know how long to keep business receipts to avoid complications […]

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Does Your Organization Qualify for Tax-exempt Status?

If you run a nonprofit organization, you work hard to give back to others. The government offers the opportunity for organizations like yours to gain tax exemption. However, applying for tax-exempt status can be a long and complicated process. Before starting the tax-exempt status application, find out what tax exemption means for your organization, determine […]

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Understanding Debits and Credits

As a small business owner, you may be struggling with the concept of what is debit (DR) and credit (CR). But, learning the basics of debit and credit is essential for keeping accurate records for your small business. To have a better understanding of debits and credits, continue reading for more information and examples of […]

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As a small business owner, you need to know how to file a small business tax return.

Filing a Small Business Tax Return 101

Many taxpayers dread filing taxes. What if I make a mistake? Will my tax return lead to an IRS audit? If you are new to entrepreneurship, you might be worried about filing small business taxes for the first time. Read on to learn how to prepare for and file your small business tax return.

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What is a corporation? A type of business structure.

What Is a Corporation?

One of your first decisions as a small business owner is choosing between business structures. Your structure dictates many vital aspects of your company, including liability. To protect your personal assets from business liabilities, you may consider structuring as a corporation. According to the Small Business Administration, 18.5% of small employers structure as corporations. What […]

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Find out the sales tax holiday rules for your state.

What Is a Sales Tax Holiday?

When you sell certain items, you must collect and remit sales tax. The government requires you to charge customers sales tax at the point of sale. But, some states have created sales tax holidays to give you and your customers a temporary break. During a sales tax holiday, you do not collect sales tax. This […]

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As a small business owner, you need to know how to price a product to bring in higher sales.

How to Price a Product

Product pricing can make or break your small business. If you set prices higher than what customers are willing to spend, you lose sales. But if you set prices too low, you don’t earn at your highest potential. Price points need to meet somewhere in the middle to generate the most revenue. Do you know […]

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Find out how to file a business tax extension before the deadline passes.

How to File a Business Tax Extension

If you are rushing to complete your income tax return, consider filing for a business tax extension. Filing taxes for small business can be difficult, and an extension allows you more time to file your business’s tax return. Learning how to file an extension for business taxes is simple. And, you can avoid mistakes that […]

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Avoid accounting errors at your small business.

10 of the Most Common Accounting Errors for Small Businesses to Avoid

If you have ever made a mistake in your small business financial statements, you know how time consuming and expensive errors in accounting can be. You need to protect your small business books from common accounting errors.

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Use a suspense account to hold transactions that you are unsure of where to enter.

Use a Suspense Account for Questionable Transactions

Sometimes, you don’t have all the necessary information for accounting. Missing or incorrect details can derail your bookkeeping efforts, but you need to record every transaction. Use a suspense account when you’re not sure where to record general ledger entries.

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