Running a business has some indirect costs. These costs aren’t always apparent, which is why they’re the hidden costs of running a business. It’s important to keep track of your business’s indirect costs. And, you should know how your indirect costs compare to your direct costs. To do this, you’ll need to find your burden […]Read More What Is Burden Rate?
Structuring your business as a limited liability company (LLC) can have great benefits, but filing small business tax returns can get confusing. Because LLCs take aspects of both corporations and partnerships, there is not a standard LLC form you will use. Learn about the different tax forms for an LLC.Read More What Are the Federal Tax Forms for an LLC?
When pricing your products, you must consider the cost of making the product, including the direct costs. Find out below what direct costs are, including examples and how to calculate them.Read More What Are Direct Costs?
Revenue is a vital part of your business. Your business needs revenue to survive. So, it’s important that you understand revenue. Below you will learn what revenue is, why revenue is important, how to calculate it, and how to increase it.Read More The Basics of Small Business Revenue
When you are tracking your business’s financial health, you will track many indicators. And if you are seeking money from investors and creditors, they will want to see these numbers, too. Operating income is one of the numbers you should calculate.Read More What Is Operating Income?
Would you like your business to earn more? Of course you do! When you learn how to increase net profit, your business will have more money after expenses and become more stable.Read More How to Increase Net Profit
New businesses typically incur expenses before the business is up and running. You might need to research your market, hire a consultant, travel to potential suppliers, or open a facility. These are startup costs. When you incur startup costs, you must accurately record the corresponding ledger entries in your accounting books. And, you must properly […]Read More Accounting for Startup Costs (Plus How to Handle Taxes)
You run your own business, but are you considered self-employed? The definition of self-employment can be confusing. What does self-employment mean? Find out below.Read More What Does Self-employed Mean?