Changing insurance plans can seem like a major hassle for your entire company, especially your employees. But, it doesn’t have to be. Maybe you want to switch plans because your current one is too costly. Or, maybe you have no choice but to switch. Whatever the case may be, changing health insurance plans can be painless if you take the right steps.
As a business owner, you’re responsible for paying certain business-related taxes. If you own property that you use for business operations, one of the taxes you need to pay is business property tax. Read on to learn all about property tax for business, including how to calculate and pay it.
If you have employees who travel for work, you might offer them per diem pay to reimburse them for travel-related expenses. Per diem rates can vary based on the state and city your employee travels to. Read on to learn about different state per diem rates, including a state-by-state breakdown of each state’s average rates.
Your business’s balance sheet can give you a snapshot of your finances and show you whether you’re on track for success. Without it, you might struggle to detect spikes in spending or see if your pricing strategy is effective.
If you want to take things one step further with your balance sheet and see how your company’s finances are holding up, calculate your balance sheet ratios. Learn more about the balance sheet metrics you should be tracking to keep your finances in order.
If you have employees, you likely need to fill out and file Form 941 each quarter. Form 941 is jam-packed with different sections and calculations, which leaves room for errors. To avoid major mistakes, learn how to fill out Form 941 line by line.
Your business is your pride and joy. And if you’re like most owners, you’ll do whatever it takes to protect it at all costs. But, you can’t always protect your company from unexpected events, like natural disasters. To keep your business safe and help it stay afloat if disaster strikes, consider investing in business interruption insurance. Read on to learn about interruption insurance, including whether or not it covers coronavirus-related claims.
As a business owner, you need an efficient way to monitor your inventory and determine how much to buy and when. One way to do this is by utilizing a purchasing system. Read on to learn about purchasing systems and how they work.
When you pursue your passion and start your business, you may not necessarily have the budget to hire your dream team right away. Because of a small business budget, some startup owners use employee equity as an incentive. Read on to learn the ins and outs of employee equity and what options you can offer employees.
One of the four main financial statements you have to keep track of as a business owner is your balance sheet. Your balance sheet gives you insight into where your business stands financially. But, you won’t get an accurate picture of your company’s finances if you don’t keep up with balance sheet reconciliation.
Read on to learn more about reconciling your balance sheet, including what steps you should take to reconcile your balance sheet and why it’s important to have a reconciliation process.
Accounting errors are inevitable, especially if you’re rushing to add information into your small business accounting books. To detect accounting errors sooner rather than later, learn how to find accounting errors.