Before you can begin looking into your business’s profit, you need to understand and know how to calculate cost of goods sold (COGS). So, where do you begin? Start here by learning all about COGS, including how to determine cost of goods sold and what you can use it for.Read More Do You Know Your Business’s Cost of Goods Sold?
How Do Accounting Profit vs. Economic Profit Differ?
As a business owner, your goal is to make a profit. Generally, you may turn toward your accounting profit to see how your company is doing. You also need to consider other types of profit, such as economic profit. But, what’s the difference between accounting profit vs. economic profit? Keep reading to get the scoop.
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Filing taxes can be a bear. Between deadlines, line items, and completing forms, there is a lot of information to know. And whether it’s your first time filing taxes for small business or you’re a seasoned business owner, you may have some questions. So if you’re looking for answers on how to file a business […]Read More How to File a Business Tax Return in 4 Simple Steps
Being a business owner means tracking profits, losses, annual business revenue, and more. But beyond knowing how to track these, how do you calculate the figures you need? And, how do you calculate your annual business revenue? Read on to learn the ins and outs of annual business revenue.Read More How to Calculate Annual Business Revenue 101
You’re driving late at night, exhausted. You can’t see anything, and you don’t know where you are. Before you run out of gas, you pull up your GPS, and ah! There’s the path. Now you know where the path is again. Likewise, you can get lost in business ownership if you don’t have a “roadmap” […]Read More How to Write a Business Plan That Outlines Your Goals, Secures Funding, and Beyond
When disaster strikes, you have a lot on your mind. Your first thoughts might be of repairing damages and getting your business back up and running. But then, it hits you … Oh no, my taxes are due soon. Thankfully, there’s tax relief in disaster situations. Tax relief isn’t the only type of government assistance […]Read More Tax Relief in Disaster Situations
When learning how to calculate the valuation of your company, you probably learned about EBITDA. The information in the EBITDA formula is important when calculating your profitability and overall financial performance. But earnings before interest, taxes, depreciation, and amortization (aka EBITDA) hit a snag regarding the specific taxes you should include. And, what taxes you […]Read More What Taxes Are Added Back to EBITDA?
Just like other business owners, self-employed individuals also have to report income and pay taxes to the IRS. So, how do you report self-employment income? What steps do you need to take? And, is there a special form you need to fill out? Get answers to these self-employment income questions and more below.Read More Report Your Self-employment Income in 3 Easy Steps
When you open a business, you decide what business structure you want to have. And, that decision determines what the legal requirements are for your company. But, is your business a separate legal entity (SLE)? And, what is a separate legal entity?Read More What Is a Separate Legal Entity? A Guide for Business Owners
Let’s face it: Juggling multiple loan or credit payments can be a burden. But if bootstrapping your business isn’t an option, it might be necessary to make your entrepreneurial dream come true. One way to limit multiple monthly payments is through business debt consolidation.Read More Have Business Debt Consolidation on the Brain? Find Out If It’s Right for Your Company