Key Takeaways − A break-even analysis shows when your startup’s sales will cover all your costs. The formula for your break-even point is: Break-even Units = Fixed Costs / (Price per Unit − Variable Cost per Unit) Performing a break-even analysis helps you set smarter prices, decide if an idea is viable, and plan sales […]
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Author:
Rachel Blakely-Gray
As Patriot's Content Manager, Rachel creates engaging and informative content aimed to help business owners understand complex accounting and payroll topics.
Can a Youth Pastor or Associate Pastor Claim a Housing Allowance?
Key Takeaways − A youth pastor or associate pastor can claim a housing allowance if they meet the IRS definition of a minister and the church properly designates the allowance in advance. A pastoral housing allowance is a portion of a minister’s compensation designated for housing expenses and can be excluded from federal income tax, […]
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IRS Rules for Minister’s Housing Allowances: Documentation and Reporting
Do you run a church, ministry, or faith-based nonprofit? If so, payroll and taxes can feel complicated, especially when clergy housing allowances enter the picture.
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How to Accurately Calculate a Clergy Housing Allowance
Key Takeaways − A clergy housing allowance lets qualifying ministers exclude part of their compensation from federal income tax, up to certain limits. The church or organization must officially designate the allowance in advance. The excludable amount is the lowest of 1) The amount officially designated as housing allowance, 2) The minister’s actual housing expenses, […]
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The Risks of Skipping Workers’ Compensation for Your First Hire
Key Takeaways − In many states, you need workers’ compensation insurance for one employee. Skipping coverage can expose you to lawsuits, medical bills, fines, and criminal charges, depending on your state. Workers’ comp helps cover medical costs and lost wages when employees are hurt on the job. Even “safe” office jobs carry risk: slips, falls, […]
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How Much Does Workers’ Comp Cost for a Single Employee?
Key Takeaways − Workers’ comp for one employee often costs a few hundred dollars per year, but it can be more or less depending on your situation. Your industry risk, state, payroll amount, and claims history drive your rate. Many states require workers’ comp even if you have just one employee. You’ll usually pay a […]
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Workers’ Compensation Exemptions: What Small Business Owners Need to Know
Key Takeaways − Most states require workers’ compensation insurance once you have employees, but rules and exemptions vary by state. Common exemptions can include sole proprietors, partners, certain officers, family members, and independent contractors. “Do I need workers’ comp insurance for one employee?” The answer depends on your state. Misclassifying employees as “exempt,” “contractors,” or […]
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Patriot Software Redefines Payroll Experience, Named “Best for Customer Satisfaction” in 2026
Patriot takes the Best for Customer Satisfaction distinction in the payroll category from Software Advice.
Read More Patriot Software Redefines Payroll Experience, Named “Best for Customer Satisfaction” in 2026
How to Transition From DIY Bookkeeping to a Professional Accountant
Key Takeaways − It may be time to hire an accountant if bookkeeping eats your time, feels confusing, or risks mistakes Before you transition, clean up your records, choose accounting software, and document your processes. A smooth handoff includes: organizing data, granting secure access, and setting expectations with your new accountant. The right accountant plus […]
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Americans Love PTO. They’re Still Confused By It.
When a child wakes up sick or burnout hits midweek, most employees don’t think about policy language. They think about certainty.
Read More Americans Love PTO. They’re Still Confused By It.