If you want to take advantage of business deductions before the end of the year, you may decide to prepay some of your expenses. But, hold up! Before you do that, you need to learn about the 12-month rule for prepaid expenses.Read More Get to Know the 12-Month Rule for Prepaid Expenses
The average cost to start a business is less than $10,000. But, every business is different. So if you have a million-dollar business idea, you probably want to know what it’s going to cost you. How much does it cost to start a business, exactly? Although there’s no neat little price tag on your entrepreneurial […]Read More How Much Does it Cost to Start a Business? Putting Together Your Estimate
Quick: Off the top of your head, how much money is your business bringing in? How much are you spending? At some point, investors, lenders, and (cough) you will need to know. But don’t panic when someone asks about your company’s revenue and expenses. Just whip out your income statement. What is an income statement, […]Read More What Is an Income Statement?
When you start a small business, you need an easy and reliable way to track income and expenses. One way you can manage your books is by using accounting software. But, what’s the cost of accounting software? Find out the factors that can impact pricing and what additional costs to look out for while shopping […]Read More What’s the Cost of Accounting Software for Small Businesses?
If you’re like many business owners, you know that you have to handle certain tasks, like purchasing items, taking on debt, or putting your own money into your business, to get your venture up and running. And when your company processes any type of transaction, whether it’s debt, purchases, etc., you have to record it […]Read More Assets vs. Liabilities: The Complete Breakdown
At some point or another, you may turn to a lender to borrow funds and need to eventually repay them. And when that happens, notes payable come into play. Learn all about notes payable in accounting and recording notes payable in your business’s books.Read More What Is Notes Payable, and How Do You Record Them in Your Books?
Naming your business is one of the most fun and crucial parts of opening it. You take the time to research if it’s available, ask others for their opinions, and register it with the state to legally stake your claim to it. But, is that enough? It might be a good idea to trademark your […]Read More How to Trademark a Name for Your Business
Think you’re doing too much purchasing and not enough selling? Or, think you’re selling too much and not buying enough? There’s only one way to be sure, and that’s by finding your inventory turnover ratio.Read More Overstocking? Understocking? Calculate Your Inventory Turnover Ratio to Find Out
When it comes to running your business, you may need to obtain a business license and permit to operate. But, what are the steps to obtain a business license? Welcome to your rundown on how to get a business license.Read More How to Get a Business License in 4 Simple Steps
As a business owner, there are many documents you need to keep track of for your company. Employee paperwork, bills, invoices, etc., are all essential documents to store in your records. Keeping records isn’t just a good business practice, either. There are specific IRS recordkeeping requirements you must follow. One of those requirements is maintaining […]Read More How Long to Keep Tax Returns for Your Business