You constantly make payments to contractors, suppliers, vendors, and employees (if you have ‘em). It’s what you do as a business owner. Wouldn’t it be nice to skip cash and checks? Instead of using paper to pay people, you can make EFT payments.
Read More EFT Payments: What to Know About Sending and Receiving
You know that spending less on business expenses like supplies and inventory can help you maximize your business’s profits. You can’t just eliminate those expenses; otherwise, you wouldn’t have anything to sell. But, you can possibly reduce how much you spend through wholesale buying. Wholesalers supply businesses with products in large quantities. Businesses that buy […]
Read More A Guide to Start Buying Wholesale for Small Business
Overhead costs are the ongoing expenses that support your business but don’t generate revenue.
Read More Overhead Cost: Don’t Get in Over Your Head
In business, it seems like you dole out money for anything and everything. Employee wages and inventory purchases are just some of the payments you might make. Sometimes, you may make payments that fall under the IRS’s miscellaneous category. And if you do, you must report them as miscellaneous information (formerly miscellaneous income). So, what […]
Read More Miscellaneous “Income” Is Now Miscellaneous “Information.” So, What Is It?
Expenses. We can’t escape them. But with careful attention, you can use them to reduce your tax liability. When you know what business expenses to deduct, you’ll be certain you’re paying no more than needed. So, without further ado, what are business expenses?
Read More What Are Business Expenses?
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.
Read More What Is Depreciation?
Before you can begin looking into your business’s profit, you need to understand and know how to calculate cost of goods sold (COGS). So, where do you begin? Start here by learning all about COGS, including how to get cost of goods sold using the cost of goods sold equation.
Read More How to Get Cost of Goods Sold for Your Business
Do you want your business to make a profit? Duh, of course you do! But when you’re starting out, it may take a few years before you enter profit territory. And after you start making a profit, you may be at the break-even point for a while. So, what is the break-even point?
Read More What Is the Break-even Point?
If you have a business bank account, you should regularly receive a paper or electronic statement. These business bank statements provide valuable information for managing your business finances.
Read More How to Use Business Bank Statements [+ Example]
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 in my state?
Read More The 2026 Average Cost of Living by State, and Why Ignoring it Could Sink Your Business