The expenses associated with founding a startup include office or store space, tools, equipment, inventory, utilities, advertising, and insurance. It may be tempting to want to skip the cost of insurance, but business insurance is essential for startups. ...
Solo entrepreneurs benefit from not having to share their business income with partners, but they have to navigate the–often confusing–world of sole proprietorship taxes. This article explains what sole proprietorships are, the advantages and disadvantages of a...
New entrepreneurs have a lot to figure out, including how–and under what name–to register their new companies with their state licensing agencies. Understanding whether to use a DBA or an LLC to name your business can impact your legal liability, how your company is...
Gone are the days when the only way for accountants to calculate payroll was to painstakingly enter and manually check payroll data for deductions, withholdings, and inaccuracies. Payroll software streamlines the payroll process and helps to reduce human error. Its...
Payroll deductions are wages withdrawn from your employees’ paychecks to pay for taxes, employee benefits, and wage garnishments. This article will explain payroll deductions and the differences between mandatory and voluntary deductions so that you can effectively...
Individual retirement arrangements (IRAs) and 401(k)s are popular savings plans that American workers invest in to save for retirement. Two of the most common types of these plans are traditional and Roth accounts. This article will cover the differences between...
As a restaurant owner, having the right tools to measure your business’s financial performance is critical to your success. Accordingly, the best restaurant accounting software can support your restaurant’s viability by tracking your inventory, expenses, and revenue,...
Anyone who owns a small business needs to understand what kind of policies they need to include in their renters insurance to keep from paying out of pocket for unforeseen damages and losses. This article will take you through everything you need to know about renters...