Expenses Articles

As a small business owner, you may run on a tight budget. Your business expenses might add up fast between equipment, inventory, overhead, and payroll. Luckily, many of your business expenses are tax-deductible. But, what constitutes an allowable business expense?

For your small business, you might make some big purchases on items to keep you in operation. When it’s time to report your expenses for taxes, using depreciation in your accounting books could help you save money.

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.

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.

When it comes to business expenses, there are two different types of costs: fixed costs and variable costs. It’s important to know the difference between fixed and variable costs. But, how do you know what expenses are fixed costs, and what are variable costs?

As a small business owner, you manage many different expenses. As you run your daily operations, you might not think about the types of business expenses you make. But, you should record some expenses differently than others in your accounting books, such as fixed costs.

You need to advertise to promote your business brand, increase customer awareness, and build your reputation. Each time you have an advertising and promotion expense, you need to record it in your small business accounting books.

A company is only as good as its employees. Most employers have heard this quote, or some variation of it, which is one reason the scramble to find talent is so important. And when you do hire employees, you want to make sure your business benefits from them.

Running a business has some indirect costs. These costs aren’t always apparent, which is why they’re the hidden costs of running a business. It’s important to keep track of your business’s indirect costs. And, you should know how your indirect costs compare to your direct costs. To do this, you’ll need to find your burden […]