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As a small business owner, you need equipment to run your company. Whether it’s a machine or vehicle, costs can add up fast. Did you know you can get major tax breaks for business property expenses? You can lower your tax burden with depreciation. Find out how to calculate depreciation expense for your small business.
Read More How to Calculate Depreciation Expense
With fewer people carrying cash, it’s common for customers to break out a credit card for everyday purchases. While credit cards offer customers more spending options, swipe fees attached to charges could mess with your small business finances.
Read More Should You Pass Along Swipe Fees to Customers?
As a small business owner, you work hard to make your company successful. When problems come up, you face them head-on to push your business forward. Whether you go an inch or a mile, you record all your financial moves in your small business online accounting records.
Read More 6 Financial Ratios for Small Business Owners to Live By
When you invest in an asset for your small business, you want it to eventually turn a profit. But, how do you measure the profitability of your investments? You can use return on investment (ROI) calculations to see how much income your assets generate.
Read More ROI Meaning: What Is Return on Investment (ROI)?
As an entrepreneur, you need to have a plan in case you have to close your business. Perhaps your business can’t pay its debts, or maybe you want to retire. Regardless of what happens, you should be aware of one of your options for closing your business: small business liquidation. What is liquidation?
Read More What Is Liquidation? | Small Business Liquidation
Do you extend credit to customers at your small business? If so, you need to record these transactions in your accounting books. Depending on the method of accounting you use, you might need to track accounts receivable. What is accounts receivable?
Read More What Is Accounts Receivable?
You’re a business owner, not an accountant. But, you probably handle some of your accounting tasks. You need to know some basic accounting terms to manage your books. An important term to understand is net profit. What is net profit? Net profit is an important figure on your income statement.
Read More What Is Net Profit?
Sometimes, it’s hard to tell whether your business is operating efficiently, especially when money is constantly coming in and going out. You need to know if your business is making a profit or losing money. One way to gain insight into your financial strength is by reviewing your net worth. What is business net worth?
Read More What Is Business Net Worth?
Collection agencies help businesses secure payments from late-paying customers. If you are struggling with your collections, you might want to hire a collection agency.
Read More Hire a Collection Agency: Guide to Getting Your Receivables
A sole proprietor is an individual who owns and operates their own business. Sole proprietors fill out fewer tax forms and pay less to start their businesses.
Read More What Is a Sole Proprietor?