Use this article to help you learn about Form 3508. Forms 3508EZ and 3508S are simplified documents, so not all of these steps apply. For more information on the difference between the forms, check out our article, “Form 3508, 3508EZ, or 3508S: Which Version Should You Use for PPP Forgiveness?“ Want to know how much […]
Read More PPP Forgiveness Calculation: Process & Example
Running a business means juggling a variety of financial reports, like your company’s trial balance and general ledger. With so many reports to look through, you may be asking yourself, What do these reports mean, and how do I use them? Take a look at the difference between general ledger vs. trial balance and how […]
Read More General Ledger vs. Trial Balance: What’s the Difference?
As a business owner, there are two important things you want to keep: time and money. That’s why you need to create a budget and stick to it. But, budget challenges are common and can pop up throughout the year.
Read More 5 Budget Challenges and How to Tackle Them
As a business owner and consumer, you’re likely familiar with sales tax. After all, the majority of states have some type of sales tax. But, you may be less familiar with use tax and how it works compared to sales tax. Want to find out the difference between sales tax vs. use tax? Keep reading.
Read More Sales Tax vs. Use Tax: How They Compare and Contrast
Your business incurs all kinds of expenses during day-to-day operations. From payroll expenses to selling, general, and administrative expense (aka SG&A), there are a number of costs you need to pay attention to. But, what is SG&A exactly?
Read More Your Guide on Selling, General, and Administrative Expense (SG&A)
If you’ve been keeping up with the news, you know that the IRS began sending out Economic Impact Payments to qualifying recipients. These stimulus checks will go out in a few rounds, so don’t panic if you aren’t included in the first send-off.
Read More Is a Stimulus Check En Route to You? FAQs About Economic Impact Payments
Part of running a business is recording day-to-day operating costs in your books. These expenses fall into two categories: cost of goods sold (COGS) or operating expenses. But what’s the difference between the two? Read on to learn about cost of goods sold vs. operating expenses and how to tell the difference when doing your […]
Read More Cost of Goods Sold vs. Operating Expenses: Your Go-to Guide
Depending on your business’s location, you may need to pay or remit certain state-specific taxes. One type of state tax your business should be aware of is gross receipts tax (GRT). Read on to learn about gross receipts tax and whether or not you’re responsible for remitting it to your state.
Read More What Is Gross Receipts Tax, and Which States Impose It?
Company ABC is now part of Company XYZ! Pop quiz … is this an example of a merger or acquisition? Understanding mergers vs. acquisitions may be a key part of your business’s exit, expense-cutting, or profit-boosting strategy.
Read More What Are the Differences Between Mergers vs. Acquisitions?
As a business owner, you’re used to wearing a million hats and doing things yourself. But sometimes, you need a helping hand. Some tasks, like accounting, can be time-consuming and downright stressful, especially if you’re not an expert. If you’re struggling to manage your own books, hiring an accountant may be a good fit for […]
Read More Do I Need an Accountant for My Business? Get Your Answer Here