Do you ever pay for business goods and services before you use them? If so, these types of prepaid expenses require special attention in your books. You need to create a prepaid expenses journal entry.
Read More How to Create a Prepaid Expenses Journal EntryAmanda Cameron
Margin vs. Markup: Chart, Infographic, & More
Business owners often confuse margin and markup. After all, they both deal with sales, help you set prices, and measure productivity. But, there’s a key difference between margin vs. markup, and knowing this difference is how you can set prices that lead to profits.
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Health Insurance Tax Credits for Small Business Owners
Do you have a small business as defined by the Affordable Care Act (ACA)? Do you offer health insurance to your employees? If so, you might be eligible for health insurance tax credits for the coverage you provide your employees. And, you may qualify for write-offs if you’re self-employed. Keep reading to find out if […]
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Ready to Dive Right Into Tip Pooling? Read This Before You Take the Plunge
In many types of service industries, employees can receive tips in addition to their regular wages. If your employees earn tips, you may consider giving tip pooling a try. Keep reading to learn all about tip pooling, including how it works and tip pooling laws you need to follow.
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What Small Business Owners Need to Know About Pass-through Taxation
Understanding your business tax obligations is not always easy. There are different ways a business can be taxed. One method of taxation is a pass-through tax. If you own a small business, you need to know about pass-through taxation.
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Should I Have a Business Savings Account?
Saving isn’t easy for small business owners. But, regularly setting aside small amounts of money helps you maintain long-term financial health. Opening a business savings account is one easy way for your company to save funds.
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Is My Business Tax-exempt?
As a small business owner, you probably spend a lot of time and money on taxes. But, not all businesses have to pay taxes. Have you ever wondered, “Is my business tax exempt?”
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First Time Filing Taxes for Small Business
The first time filing taxes for small business owners can be overwhelming. Make your first time filing business taxes run smoothly by understanding your liabilities.
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What Is Ordinary Income?
As a small business owner, you track the money your company earns in your accounting books. Can you identify the types of income you record? For example, ordinary income is a common type of income that your business earns.
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4 Ways to Improve Your Small Business Credit Score
A business credit score measures how well your company handles debt. A good business credit score can help you gain capital to grow, as well as help you borrow funds when cash is low. You can improve your small business credit score with a few simple steps.
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