In 2023, health spending increased by 7.5%. Most workers in the United States, 96%, believe a job should offer health insurance. There are several health benefits you can provide, including HRAs and HSAs. What’s the difference between an HRA vs. HSA?
Read More HRA vs. HSA: Which Is Better to Offer Your Team?
A profit and loss statement is one of the most important tools you have in your business to determine profitability. Do you know how to create a profit and loss statement?
Read More How to Create a Profit and Loss Statement
If you have employees, payroll might be your largest expense. You may consider getting certain types of payroll insurance to protect payroll-related operations and your business bottom line.
Read More Should You Get Payroll Insurance?
Understanding how your business earns, and keeps, money is fundamental to financial success. You can look at gross income and net income to gauge business profitability. But what is the difference between net income vs. gross income? And why does it matter for your business?
Read More Net Income vs. Gross Income: Know Your Business Profits
Are you spending too much of your company’s hard-earned revenue on payroll expenses? You can use the payroll-to-revenue ratio to find out.
Read More Payroll-to-revenue Ratio: Should 15% – 30% of Revenue Go to Paying Your Team?
As many as 98% of organizations provide full or partial cell phone reimbursement to employees for their mobile phone expenses.
Read More Cell Phone Reimbursement: Is it Taxable?
Like several other states, Maryland requires that employers provide sick leave. Maryland sick and safe leave ensures employees receive paid or unpaid time off when they cannot work.
Read More Maryland Sick and Safe Leave Law Mandates That Employees Receive Paid Sick Leave
Ten out of 10 businesses sell products or services. And when you make a sale, you need to record the transaction in your accounting books. How comfortable are you with making a journal entry for sales?
Read More How to Make a Journal Entry for Sales in Your Books
Your business’s financial statements give you a snapshot of the financial health of your company. Without them, you wouldn’t be able to monitor your revenue, project your future finances, or keep your business on track for success. So which financial statement is prepared first?
Read More Which Financial Statement Is Prepared First?
There might come a time when you don’t have enough money to pay your employees. Cash flow might be slow, or a three-paycheck month may surprise you. To help your business make ends meet, you might consider taking out a payroll loan.
Read More Should You Take Out a Payroll Loan If You Can’t Make Payroll?