Cash Basis Accounting vs. Accrual Basis Accounting

Cash basis accounting and accrual basis accounting are two methods used by businesses to record fina...

Profits vs. Cash Flows: What’s the Difference and Why Does it Matter?

Understanding financial metrics and what they tell you is key to succeeding in business. Two of the ...

The W-2 is a tax form that employers must submit to the IRS at the end of every year for each of the...

Contractor taxes work slightly differently than employee taxes. One of the main differences is the f...

Once you get your business up and running, you’ll quickly discover a world of legal matters you have...

As a small business owner, you’re in a unique position. Your most valuable asset isn’t likely to be ...

A significant part of running a business is knowing the dollar amount your company owns in assets — ...

Your business might not be profitable in its formative years, leaving you with no option but to push...

Most people know that debit cards let you spend out of a checking account, while credit cards let yo...

Still using a shoebox and notebook approach to accounting? Accounting software provides a way for yo...

From buildings to machines, equipment and tools, every business will have one or more fixed assets l...

Employer Identification Number (EIN) is one of the crucial things you need to know and understand we...

Every running business needs to determine its annual net income to conclude on its profit or loss m...

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