What Are Withholding Allowances?
Understanding what withholding allowance means is key to managing your taxes. Learn how withholding allowances impact your paycheck and tax liability.
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Which taxes get taken out of your paycheck?
Payday is every employee’s favorite day, but paychecks can often be confusing. Every employee has taxes taken out from their paycheck, but those taxes may differ depending on factors such as your marital status and what state you live in. You need to understand which taxes get taken out of your paycheck to avoid any […]
How Do I Complete a W-4 form?
When you start a new job, one of the first forms you’ll fill out is a W-4 (Employee’s Withholding Allowance Certificate). This form tells your employer how much federal income tax to withhold from your paycheck. But when you sit down with it, you might wonder — How do I actually fill this out correctly? […]
How Using a Payment Processor Improves Efficiency
Successful businesses use technology to get more work done in less time. If you want to grow your business and control costs, automate the routine tasks you must complete. Many business owners use accounting software and other applications, but you may not be using a payment processor to work more efficiently. A payment processor sends […]
How to Use an LOI in Real Estate Negotiations
A letter of intent in real estate helps buyers express interest in a property without a binding contract. Learn how to use an LOI to purchase real estate effectively.
How to Compute a Sale Price on Products and Services
The coronavirus has dramatically changed how businesses operate, and the pandemic has made it tougher to generate a profit. A WalletHub survey (conducted in April of 2020) reported that 87% of small business owners were struggling, due to the virus. Owners are reviewing every component of the business, and finding ways to adapt. If the […]
What Is Accrual Accounting – And Why You Should Use It
It’s important to follow accounting standards, so that your financial results are comparable with other businesses. Investors, lenders, and regulators need financial statements that conform to the accrual method of accounting. The accrual method presents a more accurate picture of company profitability. Let’s start with a definition. Accrual accounting defined Accrual accounting posts revenue when […]
You’re Losing Money by Ignoring These Key Financial Reports
Struggling to make sense of your business data? These four commonly ignored financial reports can reveal hidden insights and improve your bottom line.
Misunderstood Tax Deductions for Your Business
You work hard to generate a profit, and there are a number of business deductions that can reduce your tax liability. Filling out your tax return is time consuming, and recent tax law changes have made the process more difficult. To understand the deductions your business can take, you need to consider your business structure. […]
5 Accounting Mistakes That Business Owners Make
Struggling to keep your business finances in check? Discover five common accounting mistakes business owners make—and how to avoid them for good.