Software is a popular type of accounting system you can use to streamline your bookkeeping process. Depending on the software you choose, you can save your time and money and focus on what matters—running your business. But first, you need to know about accounting software setup. Lucky for you, our guide makes setting up accounting […]
Does 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 questions […]
Read More IRS Form W-9: 5 Burning Questions, Answered
First it was COVID shutdowns. Then it was the Ever Green wedged in the Suez Canal (remember that?). Now, it’s a national shortage of truck drivers, warehouse space, and shipping containers … and it’s impacting businesses nationwide. Close to 96% of small business owners report that supply chain disruptions have impacted their business. Has it […]
Read More Has Your Business Been Hit Hard? 8 Tips on How to Solve Supply Chain Problems
You’re doing a bank statement reconciliation (aka the process of comparing your bank statement to books) like normal. But, things don’t add up. Suddenly, you realize the discrepancy is because there’s a large charge on your statement … but not in your books. Where’d this come from? I never spent this! And indeed, you haven’t—you’ve […]
Read More Business Bank Account Fraud: What to Do If You Notice an Unauthorized Transaction
It wouldn’t be an understatement to say that family-owned business is synonymous with American business. Eighty-seven percent of American businesses are family owned. You read that right: 87%. That means that family-owned businesses employ a huge portion of the U.S. workforce—62% to be exact. And to top things off, family-owned businesses make up 64% of […]
Read More Keeping It in the Family: How to Start a Family Business
Starting a business comes with obstacles that may seem insurmountable. You have to get a storefront, buy and store inventory, and sell and ship that inventory if needed. But, you don’t have to stick to the old ways of doing business if you don’t want to. With a dropshipping business, you can bypass a lot […]
Read More Ever Wonder What Is Dropshipping? It Could Be Just What Your Business Needs
One of the great things about running a business in America is that your business can make tax-deductible donations to your favorite charities. Seventy-six percent of American businesses donate 6% of their profits on average. And, 85% of consumers have a more positive view of companies that donate. If donations are already at the heart […]
Read More How to Make a Charitable Donation Deduction After Giving to Your Favorite Charity
Whenever you make a sale or purchase, the amount of money your business has will change. Keeping track of your business’s financial transactions is key to your business’s future. Luckily, those sales and purchases create documents such as invoices and receipts. Bookkeeping tracks your finances through the documentation that your business creates on a day-to-day […]
Read More What Is Bookkeeping? The Truth Is in the Numbers
If you run a nonprofit, you already know that donations and grants are your bread and butter. You also know just how complicated tracking donations can be. Nonprofit organizations are required to know how to track charitable donations they receive and supply donors with the proper documentation for the donations they’ve made. Read on to […]
Read More The Gift That Keeps on Giving: How to Track Donations You Receive
Running a business is always a risk. The risk of a lawsuit or bankruptcy can scare many would-be business owners before they even get started. These risks don’t have to affect you personally, but they may depending on how you structure your business. Limited liability protects an individual’s assets in the case of a lawsuit […]
Read More Limited Liability: A Shield for Your Business