Do you know how profitable your small business’s operations are? You don’t have to be a financial expert to find out. You can calculate your gross profit to compare the funds you put into your business.
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Accounting Articles
Accounting Tips, Training, and News
Gross Margin Definition, and How Can it Help Determine Profitability?
August 18, 2026As a business owner, you calculate a variety of figures to determine your company’s financial health. One of these figures to keep on your radar is gross margin. Read on to learn what is gross margin and how it can help you set prices for your goods or services.
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What Is Gross Income for a Business?
August 18, 2026Gross income is an important financial figure you can use to calculate other figures and determine how your business is doing. Learn about gross income, how to calculate it, and how to use it.
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How’s Your Small Business General Ledger Lookin’?
August 18, 2026Your business’s general ledger plays a significant role in forecasting the financial health of your company. But if you’re slacking on your general ledger entries, your business could suffer the consequences.
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Your Guide to GAAP (Generally Accepted Accounting Principles)
August 18, 2026When it comes to accounting, you must follow certain rules for recordkeeping or tax reporting. Otherwise, you may wind up making mistakes and costing your company money (and nobody wants that). Many businesses must follow a set of accounting guidelines called GAAP. But, what is GAAP exactly? And, how do you know if you have […]
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IRS Form W-9: A Detailed Look at Purpose and Usage
August 18, 2026Does your business hire independent contractors, gig workers, or freelancers? If so, congratulations! You get to learn the ins and outs of IRS Form W-9. So, what’s the scoop with the IRS W-9 form? What exactly is it used for? Who needs to fill one out? We have the answers to all of your burning […]
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What Is Form 1099-MISC, and Are You Responsible for Distributing It?
August 18, 2026If you paid a person that is not an independent contractor during the tax year, you might need to file Form 1099-MISC. So, what is Form 1099-MISC?
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Form 1096: What it Is, Filing Instructions, and More
August 18, 2026Sometimes, you need to hire workers who aren’t employees to complete certain tasks at your business. When you hire contractors or vendors, you must prepare Forms 1099-NEC or 1099-MISC so they can accurately file their personal tax returns. You also need to submit Form 1096 with the Forms 1099 you send to the IRS.
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What Is a Fiduciary?
August 18, 2026When you own a small business, you make decisions to protect your company. Throughout the life of your business, you might need to seek advice or help from professionals. In some cases, you might entrust a fiduciary to manage assets or provide business advice.
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Fair Market Value for Small Businesses
August 18, 2026Do you have business assets? If you’re running a small business, you likely have many tangible and intangible assets. And when you sell those assets or buy new ones, you should know their fair market value.
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