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“Do You Have a Permit for That?” Business Licenses and Permits You Need to Stay Legal

If you want to operate your small company legally, you likely need some business licenses and permits. There are federal, state, and local licenses and permits you might have to apply for. It all depends on your business.

What Is Form 1099-MISC, and Are You Responsible for Distributing It?

As a business owner, you have a lot on your plate. And sometimes, you need to hire outside workers with special skills to complete certain tasks at your business. To accomplish these tasks, you might consider hiring an independent contractor.

Does the above scenario sound all too familiar to you? If you hired a contractor during the year, you might need to file Form 1099-MISC. So, what is Form 1099-MISC?

Going the Freemium Pricing Route: What You Need to Know

When Goldilocks broke into the Three Bears’ home, she needed a bed that was just right—not too small and not too large. Likewise, when you break into the market, you need to set prices that are just right—not too low and not too high. Could freemium pricing be your “just right” strategy?

What Is an Independent Contractor?

As a business owner, you might need to hire a worker at some point or another. And depending on your type of business, you might need to hire employees, independent contractors, or both to get the job done.

But, how much do you really know about independent contractors vs. employees? Can you get away with hiring just independent contractors? Read on to learn what is an independent contractor and how they differ from employees.

Step up Your Accounting Game With a Compound Journal Entry

If you use a double-entry bookkeeping system, you know that every account you debit requires you to credit the corresponding account, and vice versa. But what happens when the transaction affects more than two accounts? It’s time to create a compound journal entry.

Markup vs. Margin Chart: How to Calculate Margin and Markup

Business owners often confuse margin and markup. Both figures help you set prices and measure productivity. But, a margin vs. markup chart shows that the two terms reflect profit differently.

What Is a Cash Reserve?

According to a recent study, 60% of Americans don’t have enough money to cover an unexpected $1,000 expense. What about your business? Do you have enough money tucked away to deal with a sudden expense? If not, you need to give your cash reserve some love.

The Ultimate Year-end Closing Checklist for Accounting

The end of the year is a busy time for entrepreneurs and employers. If you’re like most business owners, you’re probably juggling year-end accounting procedures in addition to heavier traffic and sales.

Instead of scrambling (or forgetting) to get your year-end accounting processes done, use a year-end closing checklist to organize the way you wrap up the year.

7 Precautions for Accepting Checks: Spotting Counterfeit Checks & Verifying Funds

Accepting check payments from customers may increase your chances of making a sale, but it comes at a price. If you receive counterfeit checks or checks from people with insufficient funds, you may have to deal with bank fees, wasted time, and lost money. To avoid these bad check nightmares, follow some standard precautions for accepting checks.

What Is a Point of Sale System, and How Can It Improve Your Day-to-day Operations?

According to one source, 56% of single-store retailers don’t have a point of sale system in place. Does your business fall into the 56%? If so, your small company could be missing out on a smoother system and in-depth sales reports.

If you want to grow your business, efficiently track sales, and streamline your day-to-day operations, consider investing in a point of sale system. So, what is a point of sale system?

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