Content What is the most tax-efficient way to pay yourself? Plan ahead for taxes Reduce self-employment taxes with a corporation or LLC Understanding owner’s equity According to Smolinski, one of the best things you can do when determining your payment schedule is to pay yourself consistently. Whether that be monthly or more, that consistency helps […]
Category Archives: Bookkeeping
Content Balance Sheet: What Is It & Tells Investors Learning Outcomes Limitations of the Balance Sheet Owners’ Equity Balancing a Balance Sheet What is a Balance Sheet Public companies are required to have a periodic financial statement available to the public. On the other hand, private companies do not need to appeal to shareholders. Balance […]
Content UFB Best Money Market – Earn 4.21% APY Real Account Representative Personal Accounts Profit Margin: How To Calculate Profit Margin For Your Small Business Checking if the site connection is secure A real account records all transactions involving assets and liabilities. Assets include furniture, land, building, machinery, goodwill, copyright, patents, etc. If you struggle […]
Content Explaining Reversing Entries Move your business forward with reversing entries They reduce the likelihood of accounting errors What Are Reversing Entries? Understanding Reversing Entries BUS103: Introduction to Financial Accounting You accrue $10,000 of revenue in January, because the company has earned the revenue but has not yet billed it to the customer. You expect […]
Content Chase Payment Solutions: Best Merchant Account Through a Bank Best for Online and In-App Payments Benefits of using Union Bank merchant services PayPal Pricing Best Credit Card Processing Companies 2023 However, higher-volume sellers can save on credit card processing costs with interchange-plus or tiered pricing. Some roll all of these services under a monthly […]
Content Basic Accounting Concepts Full Disclosure Concept Business Line of Credit: Compare the Best Options What Are the 10 Principles of GAAP? The examples of the documents that can be accepted as actual evidence are invoices, purchase receipts, bank statements, canceled checks, etc. The “matching” concept says that you should record revenue and expenses related […]