Offering credit to your customers can be a risky, but rewarding, endeavor. You need to weigh the pros and cons before you offer credit to customers.
Read More Offer Credit to Customers: The Pros and Cons
Author:
Mike Kappel
Mike Kappel, serial entrepreneur and CEO of Patriot Software, offers payroll advice from more than 30 years of experience to small business owners.
What Is a DBA, and Does Your Small Business Need One?
The name of your company plays a big role in your success. But, for many small businesses, legal structure limits what a business can be called. To use a name that interests consumers, you might need to register a doing business as (DBA) name. What is a DBA name?
Read More What Is a DBA, and Does Your Small Business Need One?
How to Organize Your Business Finances
The lifeblood of any business — large or small — is financial integrity. Efficiently managing your small business accounting can help determine your success. If you don’t know where to start, consider leveraging accounting software. By getting your finances in order, you will save a lot of hours, headaches, and dollars.
Read More How to Organize Your Business Finances
What Are Allowable Business Expenses for Your Small Business?
As a small business owner, you may run on a tight budget. Your business expenses might add up fast between equipment, inventory, overhead, and payroll. Luckily, many of your business expenses are tax-deductible. But, what constitutes an allowable business expense?
Read More What Are Allowable Business Expenses for Your Small Business?
What Is Depreciation?
For your small business, you might make some big purchases on items to keep you in operation. When it’s time to report your expenses for taxes, using depreciation in your accounting books could help you save money.
Read More What Is Depreciation?
Do Your Homework When Hiring a 1099 Subcontractor
As a small business owner, you might have considered hiring a 1099 subcontractor. In some ways, a subcontractor can give you more flexibility than an employee. Subcontractors are responsible for their own permits and payroll taxes.
Read More Do Your Homework When Hiring a 1099 Subcontractor
What Is a CPA? | Overview
If you are in business, you have likely considered using an accountant or a CPA to handle certain aspects of your business finances. But did you know that not every accountant becomes a CPA?
Read More What Is a CPA? | Overview
How to Form a C Corp
You might have considered incorporating your small business. Do you know how to form a C Corp? Forming a C Corp takes more time and money than other types of business structures. But, you are free from personal liability.
Read More How to Form a C Corp
What Are Intangible Assets?
If you’re like many small businesses, you account for company assets that you can see and touch. But, what about the items of value that aren’t physical? You may be undervaluing your business by forgetting your intangible assets. What are intangible assets?
Read More What Are Intangible Assets?
What Are Liabilities?
As a small business owner, you might owe money to vendors, employees, and the government. You need to keep track of your business’s debts in your accounting books. When it comes to recording the money you owe, mark your debts as liabilities. What are liabilities?
Read More What Are Liabilities?