Are you really earning an income? Does it mean that a higher revenue automatically translate to a profitable business? Is your operating income comparable to your competitor’s net income? Or are these two different concepts? The purpose of the Profit and Loss Statement (or sometimes referred...
Small business payroll is very important for any enterprise. How do small business deal with payroll? There are several options for a small business to do their payroll. The options are: do-it-yourself, hire in-house bookkeepers, get a payroll software service, or outsource payroll tasks. We define a payroll...
The simplicity of opening a sole proprietorship makes it a popular business structure in the United States. Under this set up, the unincorporated business may operate under a registered business name (known as a fictitious name or “doing business as” name) but it has no...
A competent bookkeeper can be a great buddy for tracking your daily expenses and income, managing invoices, and preparing vital financial information ― whether you’re just starting your business or refining your existing business. By handing those crucial financial tasks over to a professional, there is a lower...
Business tax debts can give you headache. The tax return due date coming up and some business owners are afraid that they can’t pay the taxes. Some entrepreneurs may then be worried about the IRS notices that demand full payment for a deficiency. If you're among...
Small business owners may find tax season as one of the more stressful times of the year because there always seems to be last minute rush to process the necessary business tax obligations. Perhaps by following some tax saving tips, preparing tax returns need not...