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If you find yourself tossing receipts left and right, you may want to think again. As a small business owner, keeping receipts is essential for your financial records. And not being able to locate a receipt can be problematic for your business. You need to know how long to keep business receipts to avoid complications […]
Read More How Long to Keep Business Receipts
Over time, your small business gains assets when you purchase items that bring value to your company. These assets are an essential part of your business that can help generate revenue and increase your business’s value. So, what are assets?
Read More Assets Definition, Types of Assets, and More
Take a step back and think about this: How well do you really know your customers? If you’re in a business that involves money, such as a bank or insurance agency, it can pay off to do your due diligence when it comes to your customers. The process of knowing your customer and verifying your […]
Read More Know Your Customer: Who Are You Really Doing Business With?
As a business owner, you might be eligible for various types of deductions. If you own a small business or are self-employed, one deduction you might qualify for is the pass-through deduction. Read on to learn all about the pass-through deduction, including whether or not you’re eligible for it and how to claim it.
Read More Does Your Business Qualify for a 20% Pass-through Deduction?
You’ve heard of employees. You know about independent contractors. And by this point, you may be familiar with what is a statutory employee. But, what about a statutory nonemployee?
Read More What Is a Statutory Nonemployee?
As a business owner, you’re likely always on the hunt for ways to save time and money. Maybe you use basic accounting software to track incoming and outgoing money. Or, maybe you automate your email marketing with a tool that sends emails to your customers or vendors for you. If you love saving time and […]
Read More Electronic Funds Transfer Process: What to Know
The time may come when you want to shut down your business to retire, open a new venture, or start a new career path. Regardless of your reason, the process for closing a business is different than selling it. Although it can be overwhelming, you can de-stress with our closing a business checklist.
Read More Closing a Business Checklist: 8 Steps for a Smooth Transition
Starting a business venture is risky. You may make costly mistakes throughout your entrepreneurial journey. And, there are many things outside of your control that can affect your enterprise. Although you can’t always prevent threats, you can defend yourself through small business risk management.
Read More Small Business Risk Management
Investors compare many risk factors when looking at whether a business is worth investing in. One of the financial aspects investors might look at is your business’s risk-adjusted return. So, what is a risk-adjusted return?
Read More What Is a Risk-adjusted Return?
Not being able to pay your debts can be scary. And when your creditor is the IRS, you might be especially nervous about making ends meet. To alleviate some of your tax debt burden, consider applying for an offer in compromise.
Read More Offer in Compromise: Possible Solution for Business Owners Drowning in Tax Debt