If you are self-employed, you might be overwhelmed by the expenses you have, including your self-employment tax liabilities. However, you can claim self-employment tax deductions to reduce the amount you owe in taxes. See how you can take advantage of self-employed tax relief below.
Read More 9 Self-employment Tax Deductions You Should Be Taking
Before you can get your small company rolling, you need to decide on a business structure. Your business entity impacts everything from taxes to profits and losses, so it’s essential that you choose a structure that works for your company. One popular small business structure is an S corporation. According to the SBA, 52.1% of […]
Read More What Is an S Corporation?
When you invest in an asset for your small business, you want it to eventually turn a profit. But, how do you measure the profitability of your investments? You can use return on investment (ROI) calculations to see how much income your assets generate.
Read More ROI Meaning: What Is Return on Investment (ROI)?
When you own a small business, it’s important to have extra cash on hand to use for investing or paying your liabilities. But with money constantly coming in and going out, it can be difficult to monitor how much is leftover. Use a retained earnings formula to track how much your business has accumulated. Knowing […]
Read More Retained Earnings Formula: Examples, Calculation, and More
To grow your business, you need to track financial information and measure performance. One metric you should be keeping an eye on is your business’s profit margin. Read on to learn how to calculate profit margin for your company and ways to improve your margins.
Read More How to Calculate Profit Margin for Your Small Business in 3 Simple Steps [Formula]
As a business owner, you must track the money going in and out of your company to keep your finances on track. One way you can do this is by monitoring your profit and loss statement for small business. Read on to learn how a profit and loss statement can benefit your business and how […]
Read More A Profit and Loss Statement for Small Business Is a Must!
Do you have questions about your tax situation that nobody can seem to answer? If so, you may need a private letter ruling from the IRS. What exactly is it, and how do you get it?
Read More What Is a Private Letter Ruling from the IRS?
Thinking about providing petty cash to employees? Before establishing a petty cash fund at your small business, be prepared to create a petty cash accounting system.
Read More Petty Cash: Accounting & Beyond
Overhead costs are the ongoing expenses that support your business but don’t generate revenue.
Read More Overhead Cost: Don’t Get in Over Your Head
So you’ve brought your product or service to market and are generating revenue. You’re well on your way to creating the business that you dreamed about. However, there could still be bumps in the road that keep you from collecting your receivables. Such as an NSF check from a customer. Not familiar? Let’s consider the […]
Read More What Is an NSF Check? | How to Handle