Business owners have a lot of taxes to know. Sales tax is another one to put on the list. Understand sales tax and how it works for your business to avoid potential penalties. And, that includes knowing if your particular company has to charge sales tax at all. So, let’s answer, “Do I have to […]Read More Do I Have to Charge Sales Tax? The Inside Scoop for Sellers
While some businesses can start in a basement, garage, or kitchen, others require commercial property in the beginning. And, many companies outgrow their original location, so they need to look at commercial property. But, should you buy or lease property for your business? There are pros and cons to buying vs. leasing commercial property. Review […]Read More The Pros and Cons of Buying vs. Leasing Commercial Property
Owning a business may mean that you are self-employed. But, the IRS has rules about which business owners are self-employed and which are not. Basically, all self-employed individuals are business owners, but not all business owners are self-employed. So, what are the types of self-employment?Read More Types of Self-employment: Which Is Right for Your Business?
Generally, paying employees hourly or salary wages is a straightforward process. But, what happens when you pay employee commissions or bonuses? You may need to use a supplemental flat tax rate for federal and state income taxes. Not all states require supplemental tax rates. So, take a look at the supplemental tax rates by state […]Read More Supplemental Tax Rates by State [+ When to Use Them]
Many business owners give their employees paid time off (PTO) or vacation pay throughout the year. At the end of the year, employees can either cash out, roll over, or lose unused time. If you allow employees to cash out their unused vacation time, you need to know how to handle the payout. Luckily, the […]Read More How to Handle Taxes on Vacation Payout
The world has drastically changed in the time since the invention of computers. With the rise of the internet, working from home, and digital currency, other technologies have come into play. One of those technologies is the blockchain. What is blockchain, and how can it impact your business?Read More What Is Blockchain? All About the New Rage of the Digital Age
Small business owners have a lot on their plates. That’s why it can be a little scary to realize that bookkeeping is yet another task you have to complete to keep your business running. After all, why can’t you skip it altogether and pass it on to an accountant? Well, there are a few reasons […]Read More Why Is Bookkeeping Important for Small Business?
The fact is, business owners should know a little about accounting. And yes, hiring an accounting professional is a tremendous help. But, what about the day-to-day cash flow of your business? What about invoicing, bill payments, data entry, and other accounting tasks? That’s where accounting software can help. So, how does accounting software work?Read More Let’s Get Down to Brass Tacks. How Does Accounting Software Work?
When you have employees, payroll is one of your most important tasks. Because payroll is oh-so important, you need to know how to calculate your employees’ checks. That includes knowing how to calculate taxes and other deductions accurately. Read on to learn more about how to calculate payroll.Read More How to Calculate Payroll by Hand
The idea of money laundering can be scary to employers. Illegal transfers of funds can harm businesses, after all. So, be on guard and aware of different protections meant to prevent money laundering. One of those protections is anti-money laundering.Read More Anti-money Laundering: How it Can Protect You and Your Business