When you decide to start a business, one of the most important decisions you’ll need to make is choosing the right business entity. It’s a decision that impacts many things–from the amount of taxes you pay to how much paperwork you have to deal with and what type of personal liability you face.
FORMS OF BUSINESS
The most common forms… Continue reading
QuickBooks Tips And Tricks: Make it Yours
No matter which version of QuickBooks you’re using, there are always ways to make your workday easier. As with any software, we tend to learn the features we need and not much more. But small changes in the way you operate can add up to significant time savings and more accurate files. If… Continue reading
Some types of businesses always use sales receipts. Some use them occasionally. Here’s what you need to know about them.
How do you let your customers know how much they owe you, and for what products or services? In these days of ecommerce and merchant accounts, your customers may provide a credit card number over the phone or on a… Continue reading
Between mortgages, car loans, credit cards, and student loans, most people are in debt. While being debt-free is a worthwhile goal, most people need to focus on managing their debt first since it’s likely to be there for most of their life.
Handled wisely, however, that debt won’t be an albatross around your neck. You don’t need to shell out… Continue reading
There are many reasons why your customers send in payments past their due dates. Maybe they missed or misplaced your invoice, or they’re disputing the charges. They might not be very conscientious about bill-paying. Or they simply don’t have the money.
Sometimes they contact you about their oversight, but more often, you just see the overdue days pile up in… Continue reading
This is a continuation of Break-even Analysis – Part 1.
In a service business, you’re selling time, so you take a slightly different angle than to retail or manufacturing business. As a general rule, a service business should calculate to bill an average of four to five hours a day. This does not look much, but it is… Continue reading
A break-even analysis explores the relationship between expenses and revenues. Revenues are the amounts you earn for selling your product or service. Expenses are your operating and production costs. But before we start figuring at what point we can break even, let’s go back over some accounting terminology:
- Variable expenses are tied to your revenues. Revenues go up, variable… Continue reading
Here’s the 2016 Tax Facts
Filing a past due return may not be as difficult as you think.
Taxpayers should file all tax returns that are due, regardless of whether full payment can be made with the return. Depending on an individual’s circumstances, a taxpayer filing late may qualify for a payment plan. It is important, however, to know that full payment of taxes upfront… Continue reading