If you run a farming business, calculating your profits and losses (P&L) for the year can be difficult. The good news is that the Schedule F, Profit or Loss for Farming, can help you understand your P&L. If you operate a farming business, you must file a Schedule F. But what is a schedule F […]
Read More Schedule F Tax Form: Recording Profit and Loss on the Farm
Have you ever gone to a restaurant with friends and split the check at the end of the night? If you have, you’ve used a type of split payment. But, what is a split payment? Companies use split payments to make it easier for customers to pay for products or services. Read on to learn […]
Read More What Is Split Payment: Definition, Types, and Benefits
A great accountant is always learning and improving their accounting skills. Having a growth mindset about your accounting knowledge and skill sets can help you keep up with client demands and attract new business. And if you want to keep up with the changing landscape of business and accounting, you have to enhance your skills […]
Read More How to Improve Accounting Skills: Give Your Knowledge a Boost
No one wants to be the victim of employee fraud. But for small business owners, the chances of employee fraud are high. In fact, two-thirds of small businesses in the U.S. are victims of employee theft. The good news? You don’t have to be a victim.
Read More Caught Red-handed: What to Do About Employee Fraud
Most of us would agree with the following statement: Employee wages are taxed federally and at the state level. But this isn’t always the case. Some employees can state income tax exemption.
Read More State Income Tax Exemption: Exempt or Not Exempt? That Is the Question
As a small business owner, it’s your responsibility to know who’s the best person to hire for a job. Sometimes that means adding an employee to your roster. Other times, it means hiring a contractor. Hiring a contractor can help fill temporary or project-oriented positions. Read on to get the scoop on hiring independent contractors […]
Read More Hiring a Contractor: Build it and They Will Come
Any successful accounting firm has a growth strategy in place. You can’t afford not to. But, have you ever wondered if your accounting firm growth strategy is working? It’s always a good time to take your business expansion strategy back to the drawing board. We’ve put together a list of our top six tips for […]
Read More Growing by the Numbers: Accounting Firm Growth Strategy
As a business owner, traveling for work can be exciting. After all, what employee doesn’t like driving around town to meet daily business needs, or better yet, going to a new place and meeting new people? But, whether it’s in town or out of town, travel for work can also be time-consuming, complicated, and frustrating. […]
Read More Travel for Work: Tips for When Employees Go on a Business Trip
If you’ve ever sent an invoice to someone who planned to pay later, you’re probably using accrual accounting. It can be hard to keep track of finances when you’ve accrued payables and liabilities. But, using the matching principle can help you stay organized. The matching principle in accounting states that you must report expenses in […]
Read More The Matching Principle in Accounting: How a Debit and Credit Fall in Love
As a small business owner, you already have enough on your plate. There’s no reason to hold on to accounting software that doesn’t meet your needs. Changing accounting software can make your business’s day-to-day run smoother than ever.
Read More Changing Accounting Software? Here’s What You Need to Know Before Making the Switch