As a business owner, it’s easy to get caught up in the hecticness of running your company. Because of this, keeping accounting records like business receipts, invoices, and, expenses organized can be difficult. Learn how to organize business receipts with a few simple storage solutions.
Read More How to Organize Business Receipts and Kick Clutter to the Curb
Forgetting to submit your tax return can be stressful. And even worse, the IRS can charge you a late filing penalty. Read on to learn about the penalty for late tax return and what you can do to avoid future penalties.
Read More What Is the Penalty for Late Tax Return?
Your business’s profitability plays a major role in whether your company succeeds or fails. And if you want to find out how profitable your business is, you need to look at your profit margin. But if you really want to see where your business stands, you have to do a little more digging and analyzing. […]
Read More Conduct a Profit Margin Analysis to Pinpoint Profitability Problems at Your Business
As a business owner, you are responsible for handling many documents to keep your business’s finances on track. And if your company deals with business inventory, you’ll probably find yourself juggling both invoices and purchase orders. Some business owners might think purchase orders and invoices are one and the same. Heads up: purchase orders and […]
Read More Clearing up the Confusion of Purchase Order vs. Invoice
When you start a business, you are responsible for choosing a business structure. One structure you can select is a limited liability company, or LLC.
Read More Starting up a Business? Here’s the Best State to Start an LLC
Corporations have different rules and responsibilities than other business structures. And if you own a corporation or are a shareholder of one, you should know what double taxation is. Unlike other types of business structures, corporations are subject to double taxes. Read on to get the answer to what is double taxation and quiz yourself […]
Read More What Is Double Taxation, and How Does it Impact Your Small Business?
Balancing your cash drawer is an essential part of your business’s daily routine. Just like brushing your teeth, you should also be balancing your cash register drawer daily. If you’re struggling to balance your cash drawer, you’re not alone. Read on to learn how to balance your cash drawer as well as tips and tricks […]
Read More How to Balance Your Cash Drawer Like a Boss
As a business owner, incurring debts is inevitable. In fact, the average small business owner has $195,000 of debt. Chances are, you have some kind of debt at your business. And if you have debt, you have liabilities. Read on to learn all about the different types of liabilities in accounting.
Read More How Familiar Are You With the Different Types of Liabilities in Accounting?
As a business owner, you are likely familiar with certain accounting accounts, like your assets or expense accounts. But did you know that each account can also be labeled as a permanent or temporary account?
Read More Do You Know How Temporary vs. Permanent Accounts Differ?
As a business owner, you have likely heard of the term sales tax before. Heck, you might have even heard about sales tax nexus before. But, have you heard of economic nexus? If you have in-person or online sales, it’s time to listen up and learn about economic nexus. Read on to learn what is […]
Read More What Is Economic Nexus, and Does it Impact Your Business?