So, you started a business, then let it sit for a little bit, hmm? If you didn’t earn income for an entire year, you might be wondering if you have to file your tax return. So, how does filing taxes for small business with no income work?
Read More Filing Taxes for Small Business With No Income: To File, or Not to FileAccounting Articles
Accounting Tips, Training, and News
Need an In-depth Understanding of Single Taxation vs. Double Taxation? Start Here
January 28, 2021Taxes, taxes, taxes. As a business owner or aspiring entrepreneur, you probably dread hearing the word “taxes.” But the truth is, you’re going to hear it a lot when you’re in business. And depending on your type of business structure, you may have single taxation or double taxation.
Read More Need an In-depth Understanding of Single Taxation vs. Double Taxation? Start Here
12 Must-know Questions to Ask an Accountant
January 21, 2021As a business owner, you do it all. But when it comes to your finances, it may be a good idea to consult an accounting expert for help, especially if you’re just starting your venture. What does an accountant do? An accountant can assist with tracking and analyzing your finances and keeping your records up-to-date […]
Read More 12 Must-know Questions to Ask an Accountant
How to Record Inventory Journal Entries
December 29, 2020If you sell products at your business, you likely have some form of inventory. Knowing how much inventory you have on hand, as well as how much you need to have in stock, is a crucial part of running your business. To help keep track of inventory, you need to learn how to record inventory […]
Read More How to Record Inventory Journal Entries
The Basics of Payroll Accounting: How to Record Payroll Entries in Your Books
December 17, 2020If you’re an employer, you can’t just be on your merry way after paying your employees. You also need to account for payroll expenses in your books. This is where payroll accounting comes into play. To ensure your accounting books are accurate, learn how to record payroll transactions.
Read More The Basics of Payroll Accounting: How to Record Payroll Entries in Your Books
How to Record Sales Returns and Allowances
November 24, 2020‘Tis the season for purchase returns … all year long. Because if you sell products at your business, you know that not all customers are satisfied. If a customer wants to bring back an item, you need to make sales returns and allowances journal entries.
Read More How to Record Sales Returns and Allowances
Eager to Join Forces With Another Business? Keep These 5 Types of Mergers in Mind
November 20, 2020At some point or another, you may want to join forces with another business to help boost profits or cut costs. One way to do this is to merge your business with another company through a merger. There are a variety of mergers to choose from. Are you ready to explore the different types of […]
Read More Eager to Join Forces With Another Business? Keep These 5 Types of Mergers in Mind
Can a Small Business Get a Tax Refund? Yes, No, Maybe So?
November 19, 2020As an individual, you’ve probably received (or have at least dreamed about receiving) a tax refund before. If you have, you’ve probably wondered at some point, Can a small business get a tax refund? Well, wonder no more. That’s where we come in to help.
Read More Can a Small Business Get a Tax Refund? Yes, No, Maybe So?
Stop! In the Name of Your Business … Don’t Make These 7 Common Tax Return Errors
November 12, 2020There’s a lot that goes into filing your small business tax return. You can’t just take a shot in the dark and hope for the best, you need to prepare, follow best practices, and keep good records year-round. And if you don’t, you could wind up making tax return errors.
Read More Stop! In the Name of Your Business … Don’t Make These 7 Common Tax Return Errors
Can a Business Refuse Cash from Customers?
November 10, 2020In this day and age, people are pushing cash to the side and paying with plastic. But just because plastic is dominating does not mean cash is obsolete. Many people still prefer to pay with cash. And in some cases, it can be easier to deal with cash than cards. But, can a business refuse […]
Read More Can a Business Refuse Cash from Customers?