AI (artificial intelligence) has been a game-changer for everything from speech recognition to language translation and … accounting? Yes, AI in accounting continues to transform the process of bookkeeping. How so?
Read More Revolutionizing Bookkeeping: The Role of AI in Accounting
Take out a business loan or have a mortgage for your brick-and-mortar? You may cringe when you see your business interest expense add up. But here’s a bit of good news, there’s a business interest expense deduction you may be eligible to claim (hooray!).
Read More Have a Business Interest Expense? You May Be Able to Deduct It
You’ve decided to start a business. Er … is it a hobby? How do you know if you’re making a little side money from a hobby or running a full-fledged business? Does it matter? Well, the IRS cares about whether you have a business vs. hobby, so you should, too.
Read More Business vs. Hobby: Which Is It?
Spring cleaning is a staple in households for a reason. Over time, things get pretty messy, especially when you’re busy. And in business, the same thing can happen to your accounting books. Do your books need tidying up? Use our bookkeeping clean-up checklist to get started.
Read More A Comprehensive Bookkeeping Clean-Up Checklist: Master Your Books
If you want to take advantage of business deductions before the end of the year, you may decide to prepay some of your expenses. But, hold up! Before you do that, you need to learn about the 12-month rule for prepaid expenses.
Read More 12-Month Rule for Prepaid Expenses: What to Know
The average cost to start a business is less than $10,000. But, every business is different. So if you have a million-dollar business idea, you probably want to know what it’s going to cost you. How much does it cost to start a business, exactly?
Read More How Much Does it Cost to Start a Business? Putting Together Your Estimate
When you start a small business, you need an easy and reliable way to track income and expenses. One way you can manage your books is by using accounting software. But, what’s the cost of accounting software? Find out the factors that can impact pricing and what additional costs to look out for while shopping […]
Read More What’s the Cost of Accounting Software for Small Businesses?
At some point or another, you may turn to a lender to borrow funds and need to eventually repay them. And when that happens, notes payable come into play. Learn all about notes payable in accounting and recording notes payable in your business’s books.
Read More What Is Notes Payable, and How Do You Record Them in Your Books?
Naming your business is one of the most fun and crucial parts of opening it. You take the time to research if it’s available, ask others for their opinions, and register it with the state to legally stake your claim to it. But, is that enough? It might be a good idea to trademark your […]
Read More How to Trademark a Name for Your Business
Think you’re doing too much purchasing and not enough selling? Or, think you’re selling too much and not buying enough? There’s only one way to be sure, and that’s by finding your inventory turnover ratio.
Read More Overstocking? Understocking? Calculate Your Inventory Turnover Ratio to Find Out