Accounting Blog

Accounting Training, Tips, and News

Business Tax Credits: What’s the Scoop?

If you’re like most taxpayers, you look for every possible deduction when filing your tax return for business. One way to lower your tax liability is to claim business tax credits.

What Is Distribution?

When a company makes money, it may decide to return a portion of cash to its shareholders. Depending on the business structure, individuals may receive special payments from a business called distributions. Read on to learn what is distribution, types, and how distributions work.

What Is 501(c)(3) Status?

If you operate a nonprofit organization, you may be eligible to apply for tax-exempt status, such as 501(c)(3) status. Learn what is 501(c)(3) status, types of 501(c)(3) organizations, and how to apply for 501(c)(3) status.

How to Write a Small Business Plan Like a Boss

Without a roadmap, it’s easy to get off course. And when it comes to operating your business, you need a small business plan to stay on track. Before creating your company’s “roadmap,” learn how to write a small business plan effectively.

Writing a business plan takes time. But if you draft your plan before starting your venture, you can reap the rewards.

Business plans can help you further understand your market, obtain outside funding from lenders and investors, and strategize your company’s future.

6 Steps to Creating Your Credit Policy for Small Business

Limiting your customers’ payment options can mean fewer sales for your business. In addition to accepting cash, checks, and credit cards, you may consider offering credit to customers. If you want to extend credit, create a credit policy for small business.

What Is Invoice Discounting?

As a small business owner, you regularly sell products or provide services to customers. Instead of collecting funds right away, you may send a customer an invoice. But, did you know you could use invoices as a financing tool for your business? Read on to learn more about invoice discounting and how it can help grow your business.

What Is Disposable Personal Income?

How much money do you really have to spend? What about your employees? To figure out your available spending money, you need to find your disposable personal income. What is disposable personal income?

Do You Know How to Account for an Accrued Bonus?

Performance-related or annual bonuses reward employees and encourage them to be more productive. Some employers may choose to offer an accrued bonus. Read on to learn about providing an accrued bonus, how to account for bonus accrual, and rules to follow.

E-File vs. Paper File: The Advantages and Disadvantages You Must Consider

In this digital era, it may seem surprising that there is an option to file a paper tax return. But before you kick the idea of paper filing to the curb, consider the advantages and disadvantages of e-File vs. paper file below.

Your Go-to Bad Debt Recovery Guide

When you offer credit to customers, you may need to write off unpaid receivables as bad debts. However, you could end up collecting debts you write off in your accounting books. If this happens, record the money as a bad debt recovery.

Business Tax Credits: What’s the Scoop?

If you’re like most taxpayers, you look for every possible deduction when filing your tax return for business. One way to lower your tax liability is to claim business tax credits.

What Is Distribution?

When a company makes money, it may decide to return a portion of cash to its shareholders. Depending on the business structure, individuals may receive special payments from a business called distributions. Read on to learn what is distribution, types, and how distributions work.

What Is 501(c)(3) Status?

If you operate a nonprofit organization, you may be eligible to apply for tax-exempt status, such as 501(c)(3) status. Learn what is 501(c)(3) status, types of 501(c)(3) organizations, and how to apply for 501(c)(3) status.

How to Write a Small Business Plan Like a Boss

Without a roadmap, it’s easy to get off course. And when it comes to operating your business, you need a small business plan to stay on track. Before creating your company’s “roadmap,” learn how to write a small business plan effectively.

Writing a business plan takes time. But if you draft your plan before starting your venture, you can reap the rewards.

Business plans can help you further understand your market, obtain outside funding from lenders and investors, and strategize your company’s future.

6 Steps to Creating Your Credit Policy for Small Business

Limiting your customers’ payment options can mean fewer sales for your business. In addition to accepting cash, checks, and credit cards, you may consider offering credit to customers. If you want to extend credit, create a credit policy for small business.

What Is Invoice Discounting?

As a small business owner, you regularly sell products or provide services to customers. Instead of collecting funds right away, you may send a customer an invoice. But, did you know you could use invoices as a financing tool for your business? Read on to learn more about invoice discounting and how it can help grow your business.

What Is Disposable Personal Income?

How much money do you really have to spend? What about your employees? To figure out your available spending money, you need to find your disposable personal income. What is disposable personal income?

Do You Know How to Account for an Accrued Bonus?

Performance-related or annual bonuses reward employees and encourage them to be more productive. Some employers may choose to offer an accrued bonus. Read on to learn about providing an accrued bonus, how to account for bonus accrual, and rules to follow.

E-File vs. Paper File: The Advantages and Disadvantages You Must Consider

In this digital era, it may seem surprising that there is an option to file a paper tax return. But before you kick the idea of paper filing to the curb, consider the advantages and disadvantages of e-File vs. paper file below.

Your Go-to Bad Debt Recovery Guide

When you offer credit to customers, you may need to write off unpaid receivables as bad debts. However, you could end up collecting debts you write off in your accounting books. If this happens, record the money as a bad debt recovery.