If the phrase “audited by the IRS” fills you with dread, you are not alone. Getting audited is something no business owner wants to go through. But, sometimes audits take place. If you get audited by the IRS, what happens?
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Owning a business comes with many responsibilities. One of your duties is to withhold, file, and deposit taxes. You must know how to pay small business taxes in order to correctly submit payments to the IRS. There are a few different ways to make small business tax payments. To avoid late fees and penalties, learn […]
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As your business grows, you need more capital. But, it can be a hassle for small business owners to get funding from large financial institutions. For some small business owners, working with private investors might be a smart move. You need to know how to find private investors for your small business.
Read More How to Find Private Investors for Small Business
Small business owners take risks every day. But if you put too much at stake, your business bottom line could suffer. To make sure your decisions are sound, conduct a risk analysis for your small business.
Read More How to Conduct a Risk Analysis for Your Small Business
Getting the finances you need to grow your business isn’t easy. Securing funds is especially hard if you have poor credit. You need to know your options for business funding with bad credit.
Read More How to Get a Small Business Loan With Bad Credit
To protect your business and operate under the law, you might obtain licenses, trademarks, patents, and other intangible assets. These items can be costly to a small business. You can use amortization to reduce your taxable income throughout the life of intangible assets. What is amortization?
Read More Amortization Meaning: Definition and Examples
To start, operate, and grow a business, you most likely need to take on some form of debt. Many business owners have revolving and installment debts to fund their companies. In order to make smart financing decisions, you must understand the difference between revolving debt vs. installment debt.
Read More Revolving Debt vs. Installment Debt
As a small business owner, payroll is one of your biggest expenses. You need to make sure you run payroll and record it in your books correctly every time. Check your general ledger entries with payroll reconciliation for accurate accounting and payroll records.
Read More Use Payroll Reconciliation to Record Your Books Accurately
Like many small business owners, you send customers bills after providing a product or service. An effective invoicing system gives customers more flexible payment options. You need to know which types of invoices to send customers for different situations.
Read More Types of Invoices for Small Business
When you sell goods or services, you need to create a record of the transaction. Depending on the situation, you will either give customers an invoice or receipt. What is the difference between an invoice and a receipt? Understand invoice vs. receipt distinctions to avoid confusion.
Read More Invoice vs. Receipt: What’s the Difference?