Accounting Blog

When you start a business, you are responsible for choosing a business structure. One structure you can select is a limited liability company, or LLC.

Unlike some other business structures, you can form an LLC in any state, regardless of your physical business presence. With so many states to choose from, it can be difficult to determine where to establish an LLC.

So, what’s the best state to start an LLC?

Have you ever been in a store and noticed a lack of cash registers or point-of-sale (POS) terminals? Yet customers are making purchases. How do they do it? Two words: mobile payments.

If you’re a business owner, employer, or both, you need to know what’s going on in your state. There are many state tax systems that you must follow to remain compliant and avoid penalties.

So, how can you possibly keep up? Brush up on the systems and your responsibilities below.

There are countless organizations and charities that work to help individuals or communities in need. These types of organizations are typically considered not-for-profits. Read on to find out what is a not-for-profit organization and how not-for-profits differ from nonprofits.

As a business owner, you might be eligible for various types of deductions. If you own a small business or are self-employed, one deduction you might qualify for is the pass-through deduction.

Read on to learn all about the pass-through deduction, including whether or not you’re eligible for it and how to claim it.

Your business’s profitability plays a major role in whether your company succeeds or fails. And if you want to find out how profitable your business is, you need to look at your profit margin.

But if you really want to see where your business stands, you have to do a little more digging and analyzing. So, how can you do that? The answer is simple: complete a profit margin analysis.

As a small business owner, you may find yourself struggling to keep up with your business’s books. As soon as you know it, another month has passed and you’ve fallen behind recording transactions.

Sure, closing your books can be stressful and time-consuming. But if you have a monthly closing process and checklist in place, you’ll be finishing accounting tasks and reconciling accounts in no time.

So, how can you simplify your responsibility of closing your books monthly? Say goodbye to disorganized books and hello to a month-end closing procedure.

Read on to learn tips for creating your month-end close checklist and closing monthly accounts.

Many small business owners use a chunk (or all) of their personal funds to start their dream venture.

According to one source, 77% percent of small businesses finance their startup with personal funds. That means nearly three out of four business owners potentially have business and personal funds crossing paths.

If you fall into the majority, it might be in your company’s best interest to have a separate bank account for business.

You might be wondering, Do I need a separate bank account for my business? Read on to get all the answers to your burning questions about separating funds.

As a business owner, you are responsible for handling many documents to keep your business’s finances on track. And if your company deals with business inventory, you’ll probably find yourself juggling both invoices and purchase orders.

Some business owners might think purchase orders and invoices are one and the same. Heads up: purchase orders and invoices are different documents.

If you’re eager to learn about purchase order vs. invoice, read on.

When you start a business, do you just wing it? Or, do you take time to plan and research your strategies before you jump into the market? If you’re like most entrepreneurs, you probably prepare your business before taking the plunge.

Before diving into a market or switching up a strategy, you need to do thorough research. Otherwise, your business could quickly sink.

If you want to stay afloat in the business world, you need to know how to conduct a market analysis.