Miles spent driving to meet clients, going to an office supply store, and depositing a customer’s check at the bank can add up. If you use a vehicle for small business purposes, you might qualify for a business mileage deduction from the IRS.
Read More Business Mileage Deduction 101
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.
2025 Common Tax Scams: IRS “Dirty Dozen” Highlights
Tax scams are afoot in 2025. Are you prepared? The IRS compiles an annual list of common scams known as the “Dirty Dozen” list to help taxpayers navigate threats.
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Invoice Generators: A Guide on How To Make an Invoice
For many businesses, invoicing customers is how you get paid. But manual invoicing processes can be time-consuming, and invoices can look unprofessional. Invoice generators streamline the essential invoicing process, which can speed up how quickly you get paid.
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The Difference Between Gross Profit vs. Net Profit
Calculating your business profits shows you how much money your company brings in. But, not all profit data is the same. There are two types of profit you should understand and use to measure your financial health: gross profit and net profit. What’s the difference between gross profit vs. net profit?
Read More The Difference Between Gross Profit vs. Net Profit
How to Use Life Cycle Costing
When you run a small business, every little cost counts. Making poor purchasing decisions can put an unnecessary financial burden on your business and lower your company’s bottom line over time. Before you purchase new assets for your business, practice life cycle costing.
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Small Business Loan Interest Rates and Fees: Avoid Surprises
Do you need extra capital for your small business? If you’re thinking of securing a business loan, you should know how much it’s really going to cost you. Before taking out a new loan, understand how small business loan interest rates and fees work.
Read More Small Business Loan Interest Rates and Fees: Avoid Surprises
Angel Investors vs. Venture Capitalists: How to Decide Who to Pitch to
Getting funding for your business is no walk in the park, especially if you’re just starting up. But in order to keep your business dream alive, you need capital.
Read More Angel Investors vs. Venture Capitalists: How to Decide Who to Pitch to
Pay Stub Requirements by State (+ Chart)
Distributing pay stubs is often an important part of the payroll process. But, do employers have to provide pay stubs? That answer depends on where your business is located. To stay compliant, you need to know the pay stub requirements by state.
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How Long to Keep Business Records [+ Best Practices]
Picture this: You own a small restaurant. One day, you receive an IRS notice—you’re being audited. Do you A) Panic or B) Calmly review your business records? If you know how long to keep business records (and which ones to keep), you’ll have the supporting documents needed to back up your tax return claims.
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What Is an Invoice? That’ll Be $400, Net 30
Your roof starts leaking. So, you hire a contractor to put in a new one. At the end of the job, you receive a piece of paper—an invoice—from the contractor billing you for their services. And if your business sells goods or services to customers and doesn’t collect money immediately, you’ll also have to send […]
Read More What Is an Invoice? That’ll Be $400, Net 30