Running a business involves a lot of accounting. It’s an essential part of business operations. You do it every day, even if you’re not aware of it. Every time you record a transaction, prepare tax paperwork, or plan an expense, accounting is involved. You have to do some degree of accounting to run a business, […]
Congress approved another round of coronavirus relief, meaning additional Paycheck Protection Program funding and updates regarding covered uses of PPP funds. Learn more about how this could affect your business. Additional $284 Billion for PPP Applicants After months of discussion and negotiation, Congress recently approved a $900 billion COVID-19 relief package under the Consolidated Appropriations […]
If you dread tax season every year, you’re not alone. It’s easy to wait until the last minute to prepare and file your small business tax return. No one likes the idea of losing money, and the complex record-keeping and paperwork required can make the whole process an ordeal. But it doesn’t have to be […]
Figuring out how to manage your taxes is one of the most stressful aspects of running a business. Federal tax law is complicated, and it’s easy for a business owner to make simple mistakes that result in an audit. You’re probably familiar with the way most non-business owners pay taxes: Employers withhold a small amount […]
There are few more significant steps in a small business’s early life than when you hire your first employee. It’s essential if you ever want to grow your business, but it represents a big change in how things operate. When you first start a business, there are so many moving parts and variables, but you […]
Starting a small business can provide you with a wealth of opportunities. Even though accounting and bookkeeping may seem similar, there are notable differences between the two. Here is how accounting and bookkeeping can help you as you start your small business. Why Is Accounting Important for Small Businesses? Accounting is essential for small businesses […]
Running a small business and keeping it afloat is challenging and stressful at the best of times. It’s exciting, but part of the excitement is that so many small businesses only barely stay afloat. Every small business owner knows that when your budget is so tight, and your margins don’t leave you much space for […]
One of the most critical parts of choosing your business is choosing a business entity. When you select a business entity, you’ll have to follow its requirements. However, there are tricks and things to know that can ease the process. What is a Business Entity? A business entity is an organization formed to operate a […]
Creating a small business can be a long and drawn-out process. You spend so long doing research and brainstorming in preparation that it may not seem real when your company starts to take shape. The next step after putting in the research and coming up with a plan is to establish your business officially. You […]
How Do Small Businesses Prepare Taxes? The process of tax preparation is generally the same for each small business type. You’ll need to determine which forms from the IRS you’ll need to file, be aware of the deadlines for your business type, gather your business expenses and income, and send any information that you’ll need. […]
