As a business owner, you do it all. But when it comes to your finances, it may be a good idea to consult an accounting expert for help—especially if you’re just starting your venture. An accountant can assist with tracking and analyzing your finances and keeping your records up-to-date and accurate. But, it all starts […]Read More 12 Must-know Questions to Ask an Accountant
You’ve Collected it … Now What? How to Pay Sales Tax for Small Business
You know that little line at the bottom of your receipts and invoices that says Sales Tax? As a business owner, it’s not your responsibility to pay it out of pocket. But it is your responsibility to collect and remit sales tax. If you don’t know how to pay sales tax for small business to […]
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Before 2020, business owners used one universal form—Form 1099-MISC—to report nonemployee compensation and other types of payments (e.g., rent). But after a 38-year absence, Form 1099-NEC made a return in 2020. So, how do these forms differ? Read on to learn all about Form 1099-MISC vs. 1099-NEC and which form you need to use.Read More What’re the Differences Between Form 1099-MISC vs. 1099-NEC?
When you start a company, there are a number of business structures to choose from. Two popular types of business structures are an S corporation and LLC. If you’re thinking about choosing one of these structures, find out the key differences between S Corp vs. LLC and learn which one is best for you.Read More S Corp vs. LLC: Which Is Better for Your Business?
Approximately 70% of businesses have outstanding debt. Does yours? If so, it’s time to learn how to minimize debt and get your finances back on track. Read on to learn more about business debt and ways to eliminate it.Read More Drowning in Overdue Bills? Find Out How to Minimize Debt in 6 Steps
If you run your own business, you need to have an accurate way to account for your company’s transactions and keep your books up-to-date. One option you have is doing accounting yourself.Read More Eager to Learn How to Do Your Own Accounting? Start Here
It’s no secret that there’s been an increasing shift towards digital buying, which COVID-19 helped further speed up. So if you want to digitize your brick-and-mortar, learn how to open an online store.Read More Looking to Expand? Here’s How to Open an Online Store for Your Brick-and-mortar
If you sell products at your business, you likely have some form of inventory. Knowing how much inventory you have on hand, as well as how much you need to have in stock, is a crucial part of running your business. To help keep track of inventory, you need to learn how to record inventory […]Read More Recording Inventory Journal Entries in Your Books Made Easy
Do you want your business to make a profit? Duh, of course you do! But when you’re starting out, it may take a few years before you enter profit territory. And after you start making a profit, you may be at the break-even point for a while. So, what is the break-even point?Read More What Is the Break-Even Point, and How Do You Calculate It?
You’ve heard about debits and credits. You know they increase and decrease certain accounts. But, how much do you know about the accounts they affect? There are five types of accounts in accounting.Read More Memorize These Types of Accounts in Accounting