About Mike Kappel

Mike Kappel, serial entrepreneur and CEO of Patriot Software, offers accounting advice from more than 20 years of experience to small business owners.

Author Archive | Mike Kappel

options for mobile payments can be less expensive than traditional cash registers

Comparing Accrual vs. Cash-basis Accounting

As a business owner, you have to make important decisions daily. One thing you need to decide when you start your business is an accounting method. Methods you can choose from include cash-basis, modified cash-basis, and accrual accounting. The two methods that differ the most are cash-basis and accrual accounting. To help determine which method […]

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What Are Assets? Definition, Types, and More

Over time, your small business gains assets when you purchase items that bring value to your company. These assets are an essential part of your business that can help generate revenue and increase your business’s value. So, what are assets?

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Business equity measures the value of your company.

What Is Business Equity, And How Does It Represent the Value of Your Small Business?

Many small business owners invest their own money to help fund their startups. According to one study, 77% of small businesses rely on their personal savings for initial funding. Your business equity represents ownership and the value of your business. Read on to learn more about what is business equity, how to calculate it, and […]

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what is market price

What Is Market Price? Pinpointing Where Supply Meets Demand

Knowing the market price for products or services is key to knowing how to get a deal, increase sales, and grow your business. And when it comes to running your company, you likely participate in different markets to provide your goods or services. Depending on your offerings and industry, your business’s market price may vary. […]

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emergency preparedness plan

Crafting an Effective Emergency Preparedness Plan for Your Small Business

You likely take steps to protect your personal belongings from natural disasters at home. But, do you do the same with your business? The last thing you want is to be unprepared during a disaster. Instead of being caught up in a whirlwind when the unexpected occurs, create an emergency preparedness plan for peace of […]

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what is interest

What Is Interest?

As a business owner, you likely borrow money to help fund your startup. And when you need a business loan, lenders typically charge you interest. So, what is interest?

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what is crowdfunding

What Is Crowdfunding, and How Can it Take Your Business to the Next Level?

As a business owner, you are likely familiar with traditional methods of raising capital such as seeking help from business angel investors or venture capitalists. However, business owners also have the opportunity to raise funds via crowdfunding. So, what is crowdfunding?

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sales tax nexus

Your Beginner’s Guide to Sales Tax Nexus

If your business operates in a location that imposes sales tax, you are likely familiar with the concept of sales tax. But, have you heard of sales tax nexus? Mastering sales tax nexus boils down to one question: What is nexus? Read on to learn the basics of sales tax nexus, including state guidelines and […]

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Types of Business Structures

As a small business owner, one of the first decisions you make is deciding between the different types of business structures. But, choosing between business structures can be intimidating and confusing. Before you decide what business structure type to use for your small business, understand your options.

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fair market value

Fair Market Value for Small Businesses

Do you have business assets? If you’re running a small business, you likely have many tangible and intangible assets. And when you sell those assets or buy new ones, you should know their fair market value. You must know the fair market value of your assets to maintain accurate small business accounting books, obtain outside […]

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