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.
Read More What Is Depreciation?Expenses Articles
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How to Calculate Depreciation Expense
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 ExpenseShould You Pass Along Swipe Fees to Customers?
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?What Are Variable Costs?
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?
Read More What Are Variable Costs?What Are Fixed 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.
Read More What Are Fixed Costs?Advertising and Promotion Expense: Journal Entries and Tax Deductions
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.
Read More Advertising and Promotion Expense: Journal Entries and Tax DeductionsThe 3 Human Capital Metrics Your Small Business Needs to Track
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.
Read More The 3 Human Capital Metrics Your Small Business Needs to TrackDo You Know How to Calculate Your Business’s Burden Rate?
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 […]
Read More Do You Know How to Calculate Your Business’s Burden Rate?Travel and Entertainment Expenses: Learn How to Deduct
For some business owners, spending money on travel and entertainment is inevitable. You might need to take a business trip or decide to take a client out for lunch. Whatever your situation, you might be able to claim travel, meals, and entertainment tax deductions.
Read More Travel and Entertainment Expenses: Learn How to DeductWhat Is an Indirect Cost?
To turn a profit in your business, you need to make sure your products or services bring in more money than what you put into them. But if your business expenses are greater than your revenues, you won’t stay afloat. Learn about indirect cost and how to calculate and reduce it.
Read More What Is an Indirect Cost?