You hear about it all the time in the news—Cost of living rising! Maybe you think about it on a daily basis—Do I earn enough to cover my standard of living?
Read More The Average Cost of Living by State, and Why Ignoring it Could Sink Your BusinessExpenses Articles
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Resilience During a Recession: Strategies for Business Survival
For months, the looming recession has been on everyone’s mind. In October 2022, 91% of CEOs said one would occur within the year. And in December 2022, Forbes found that large tech companies, banks, and manufacturers had laid off nearly 125,000 employees to prepare.
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Should You Lease or Buy a Car for Business? Here’s What You Need to Know (+ Charts)
Whether it’s your first day in business or your 10-year anniversary, it may be time to get a business vehicle. A business car can make running your company easier than ever—from errands to deliveries. So, if you’re wondering, “Should I lease or buy car for business?” We’ve got you covered. Read on to learn what’s […]
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What to Do When Your Business Runs Out of Money (Besides Panic)
Cash flow problems happen—often. It’s why 82% of small businesses fail. But if you have issues with your cash flow, you’re not doomed to close up shop. Instead, it’s like coming to a fork in the road. Turn right to power through, or turn left to call it quits. To get out of the red, […]
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Liability for Debts: Are You at Risk of Losing Your Personal Assets to Business Debts?
The average small business owner is roughly $195,000 in debt. Imagine paying that amount from your pocket, and if you can’t, how it’ll reflect on your credit report.
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What Are Allowable Business Expenses for Your Small Business?
As a small business owner, you may run on a tight budget. Your business expenses might add up fast between equipment, inventory, overhead, and payroll. Luckily, many of your business expenses are tax-deductible. But, what constitutes an allowable business expense?
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What Is Depreciation?
For your small business, you might make some big purchases on items to keep you in operation. When it’s time to report your expenses for taxes, using depreciation in your accounting books could help you save money.
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How to Calculate Depreciation Expense
As a small business owner, you need equipment to run your company. Whether it’s a machine or vehicle, costs can add up fast. Did you know you can get major tax breaks for business property expenses? You can lower your tax burden with depreciation. Find out how to calculate depreciation expense for your small business.
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Should You Pass Along Swipe Fees to Customers?
Right now, more than 175 million American adults have at least one credit card. With fewer people carrying cash, it’s common for customers to break out a credit card for everyday purchases. While credit cards offer customers more spending options, swipe fees attached to charges could mess with your small business finances.
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What Are Variable Costs?
When it comes to business expenses, there are two different types of costs: fixed costs and variable costs. It’s important to know the difference between fixed and variable costs. But, how do you know what expenses are fixed costs, and what are variable costs?
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