BIG NEWS: On March 21, 2025, FinCEN announced that all domestic reporting companies—businesses created in the United States—are exempt from the requirement to report beneficial ownership information (BOI) to FinCEN.
Read More BOI Reporting No Longer Required for Businesses Created in U.S.Accounting Articles
Accounting Tips, Training, and News
March 19, 2025
How to Calculate Weighted Average (and Why It Matters in Business)
From inventory valuation to sales forecasting, there are plenty of times you may need to calculate a weighted average in your business. And you don’t have to be a mathematician to find it. Learning how to calculate weighted average is a relatively easy process.
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March 17, 2025
2025 Sales Tax Holiday Dates: Ready, Set, Go! Mark Your Calendars
For business owners in most states, collecting and remitting sales tax is part of the job description. But on select dates throughout the year, your customers can take advantage of a sales tax holiday.
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March 17, 2025
What Is an IPO? The Process of Going Public
At some point, you may consider going public if your business is private. When you “go public,” you go through an IPO process. So, what is an IPO? Read on to learn the ins and outs of an IPO, what the process entails, and the pros and cons of going public.
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March 13, 2025
How to Calculate Sales Tax to Meet Your Small Business Requirements
For many businesses, collecting sales tax is a mandatory part of selling goods and providing services. After collecting sales tax from customers, you are responsible for remitting the tax to your state or local government. But before you start collecting, you need to know how to calculate sales tax.
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March 12, 2025
How Do I File a 1099 for My Independent Contractors?
If you hire an independent contractor and pay them $600 or more during the tax year, you must create, distribute, and file Form-1099-NEC. You might wonder, How do I file a 1099?
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March 11, 2025
Form 1096: What it Is, Filing Instructions, and More
Sometimes, you need to hire workers who aren’t employees to complete certain tasks at your business. When you hire contractors or vendors, you must prepare Forms 1099-NEC or 1099-MISC so they can accurately file their personal tax returns. You also need to submit Form 1096 with the Forms 1099 you send to the IRS.
Read More Form 1096: What it Is, Filing Instructions, and More
March 7, 2025
Types of Accounts in Accounting to Memorize
You’ve heard about debits and credits. You know they increase and decrease certain accounts. But, how much do you know about the accounts they affect? There are five types of accounts in accounting.
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March 6, 2025
Transposition Error, the Little Mistake That Causes Big Problems
Mistakes happen, especially when it comes to recording transactions in your books. One type of accounting mistake that’s easy to make is a transposition error. Read on to learn what is a transposition error and how it can affect your accounting books.
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March 6, 2025
What Is a Purchase Order, and When Would You Need to Create One?
As a seller, you prepare invoices requesting payment from customers who make purchases on credit. And as a buyer, you may also need to create some documents, like a purchase order (PO). What is a purchase order?
Read More What Is a Purchase Order, and When Would You Need to Create One?