Tax withholding may not be the most glamorous part of being a business owner. But if you have employees, it’s part of the job. In addition to federal income tax withholding, you may also need to handle state income tax withholding. Unlike federal income tax, state income tax rules and rates vary by state. So, […]Read More What Is State Income Tax?
So you’ve brought your product or service to market and are generating revenue. You’re well on your way to creating the business that you dreamed about. However, there could still be bumps in the road that keep you from collecting your receivables. Such as an NSF check from a customer. Not familiar? Let’s consider the […]Read More What Is an NSF Check? | How to Handle
As a small business owner, you have a lot of government documents and tax forms for small business to keep up with. You might be responsible for filing and paying excise tax if you sell certain products or services at your company. What is excise tax?Read More What Is Excise Tax?
If you’re a small business owner, you might want a loan to help finance your company. Securing a business loan is not easy. You might need to offer collateral to get the loan application approved. What is collateral?Read More What Is Business Collateral?
Business assets are items of value that significantly contribute to your small business net worth. You need to properly calculate, take care of, and record your business’s tangible assets. Learn about tangible assets below.Read More Your Go-to Guide to Understanding Tangible Assets
Are you struggling to pay your business or employment tax liabilities? If you fail to pay, you might face a tax lien. For a small business owner, a tax lien can have devastating effects. That’s why you must understand tax liens to prevent them.Read More What Is a Business Tax Lien?
When you own a small business, you make decisions to protect your company. Throughout the life of your business, you might need to seek advice or help from professionals. In some cases, you might entrust a fiduciary to manage assets or provide business advice.Read More What Is a Fiduciary?
Incoming revenue is vital to business growth, but it doesn’t paint the most accurate financial picture of your business. You must know whether your company is profiting after deducting business expenses. You need to determine your business’s net income.Read More Do You Know How to Find Net Income?
You know that spending less on business expenses like supplies and inventory can help you maximize your business’s profits. You can’t just eliminate those expenses; otherwise, you wouldn’t have anything to sell. But, you can possibly reduce how much you spend through wholesale buying. Wholesalers supply businesses with products in large quantities. Businesses that buy […]Read More A Guide to Start Buying Wholesale for Small Business
If you are a sole proprietor or partner, you or you and your partners are entitled to everything in your business. You don’t provide dividends to shareholders. You have full ownership of your business. However, you still have liabilities that you need to handle. Failing to consider your liabilities will give you a false picture […]Read More What Is Owner’s Equity?