As a business owner, you calculate a variety of figures to determine your company’s financial health. One of these figures to keep on your radar is gross margin. Read on to learn what is gross margin and how it can help you set prices for your goods or services.
Read More Gross Margin Definition, and How Can it Help Determine Profitability?
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.
How’s Your Small Business General Ledger Lookin’?
August 18, 2026Your business’s general ledger plays a significant role in forecasting the financial health of your company. But if you’re slacking on your general ledger entries, your business could suffer the consequences.
Read More How’s Your Small Business General Ledger Lookin’?
Your Guide to GAAP (Generally Accepted Accounting Principles)
August 18, 2026When it comes to accounting, you must follow certain rules for recordkeeping or tax reporting. Otherwise, you may wind up making mistakes and costing your company money (and nobody wants that). Many businesses must follow a set of accounting guidelines called GAAP. But, what is GAAP exactly? And, how do you know if you have […]
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IRS Form W-9: A Detailed Look at Purpose and Usage
August 18, 2026Does your business hire independent contractors, gig workers, or freelancers? If so, congratulations! You get to learn the ins and outs of IRS Form W-9. So, what’s the scoop with the IRS W-9 form? What exactly is it used for? Who needs to fill one out? We have the answers to all of your burning […]
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What Is Form 1099-MISC, and Are You Responsible for Distributing It?
August 18, 2026If you paid a person that is not an independent contractor during the tax year, you might need to file Form 1099-MISC. So, what is Form 1099-MISC?
Read More What Is Form 1099-MISC, and Are You Responsible for Distributing It?
What Is an FEIN? What to Know When Starting a New Business
August 18, 2026Running a business means meeting a lot of government requirements and following a number of laws. One of the first things to do when starting your business is apply for an FEIN. But, what is an FEIN? And, do you have to have one? Keep reading to learn the answers to these questions and more.
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Fair Market Value for Small Businesses
August 18, 2026Do you have business assets? If you’re running a small business, you likely have many tangible and intangible assets. And when you sell those assets or buy new ones, you should know their fair market value.
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What Is Escrow, and Why Should a Small Business Owner Know About It?
August 18, 2026Transactions between two parties can be tricky business. As a small business owner, you need to make sure that things like selling tangible and intangible assets goes smoothly. You might consider using an escrow agent to help. So, what is escrow?
Read More What Is Escrow, and Why Should a Small Business Owner Know About It?
What Is Errors and Omissions Insurance?
August 18, 2026Everyone makes mistakes. But, an error made at your business could be costly or even cause you to go under. You can protect your business with an errors and omissions insurance policy. Errors and omissions, or E&O, can save your company from certain customer lawsuits.
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What Is a DUNS Number?
August 18, 2026Dun, dun, dun! If you’re unfamiliar with what is a DUNS number, now might be the time for a quick overview. Otherwise, you might not know if you need one for your business.
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