Finances

Accounts payable are bills a company must pay. It’s the money a business owes suppliers for provided goods and services. Some examples of accounts payable

The U.S. Supreme Court case South Dakota v. Wayfair established that e-commerce retailers could be required to collect and remit sales tax. Each state has

Processing payroll in QuickBooks Online is easy and effective. You can sync both your business account and your employees’ accounts and process payroll with same-day

Affiliate links are versatile enough to be used by enormous businesses such as Amazon as well as small mom and pop stores. These links work

A profit and loss (P&L) statement is an indicator of company health. The P&L is one of the primary documents you’ll need to provide when

Small business owners can turn to straightforward tax solutions and tools to handle taxes themselves or complement tax advisors and services. Tax apps, business software

Government shutdowns can have a negative impact on small businesses due to a lack of funding and decreased profits. Certain processes are also delayed, such

affect your small business. Small business owners can now deduct 100 percent of business meal and entertainment expenses. If you own a qualified small business,

Annual revenue is the total amount of money your company earns from business operations in a year before any deductions for returns, the cost of

Tax obligations can be confusing and change frequently, so take time to review the latest tax changes for this year. Most of the tax rules

The Fair Debt Collection Practices Act is the federal law that governs third-party debt collectors’ interactions with debtors. The FDCPA applies to most third-party debt

Small business loans and cash advances are both ways to fund business growth, but they work differently. The two options have important cost considerations. Small

A business tax extension gives you more time to file your tax return, which can be crucial if you don’t yet have all the necessary

Return on investment (ROI) refers to the amount of money you make that can be directly tied to an expense or series of expenses. For

Charitable contributions from businesses to nonprofits can qualify for tax deductions. Donate to charity because you feel a connection to an organization, not because you

A price quote is given before any work is started. It details how much a project or job will cost. An invoice is provided after

Business owners can take multiple withdrawals of the same or different amounts. Owner’s draws are not limited to cash withdrawals. Owner’s draws are subject to

Medical claims are documents that your practice must submit to payers for reimbursement. Medical claims comprise charges and codes that standardize your services for faster

The double declining balance (DDB) depreciation method lets you depreciate assets more in early years after you buy them. The DDB depreciation method is easy

Recording and tracking merchant fees are essential for computing gross income. Merchant fees can be managed as cost of sales or as expenses. Accurate reporting

The HCFA form is what non-institutional practitioners use to bill insurance companies for services provided. The HCFA form comprises medical billing codes and the patient’s

A nation’s monetary policy has a major impact on its economy. In the United States, the Federal Reserve works to stabilize prices and wages to

Cash basis is much simpler and more straightforward than accrual accounting. Businesses incur revenue and expenses at different times based on which type they use.

Overhead rate measures its indirect costs relative to some allocation measure. Which allocation measure is best to use when determining overhead rate varies by business.

Wait at least 90 days after your invoice is due to send a nonpaying client to collections. Before sending a nonpaying client to collections, you

The Tax Cuts and Jobs Act was introduced in 2017. It lowered small business tax rates, especially for C corporations, for which the tax rate

Payroll taxes, or withholding taxes, are withheld from an employee’s paycheck and paid to the IRS. The employee contribution rate is 7.65%, which goes toward

Along with employee wages, an employer’s payroll liabilities include payroll taxes, voluntary employee deductions and payroll service costs. Payroll taxes are paid by both the

One way to recognize employees for a job well done is to reward them with a bonus. But although bonuses are great for employee appreciation,

A recession is when a nation is producing less, income is tight, jobs are often scarce and sales drop significantly. During a recession, small businesses

Small businesses should avoid payroll mishaps because they can adversely affect many aspects of the business. To avoid missing payroll, keep track of where your

Merit pay is a pay-rate boost used as a reward to help incentivize productivity and high performance in employees. An employee doesn’t necessarily need to

In value-based healthcare, practitioners are paid based on the quality of services rather than the quantity. Value-based healthcare makes for healthier patients, happier practitioners and

As a small business owner, it’s important to stay up to date on tax laws so you pay the right amount each year. There are

Credit card processing fees are inevitable; however, you can often negotiate fees to ensure you get the best deal possible. You can save money by