When it comes to small business accounting, most people know that it is important to keep your records updated for taxes. However, there are many more benefits from small business accounting that you can use to grow, improve and expand your business. Here are some of the most important accounting reports for your small business that you should… Read More

Running a business is not for the faint of heart, as entrepreneurship is inherently risky. Successful business owners must possess the ability to mitigate company-specific risks while simultaneously bringing a product or service to market at a price point that meets consumer demand levels. While there are a number of small businesses in a broad range… Read More

What’s the One Task Most Small-Business Owners Loathe? You are a new business owner. You’ve ordered your business cards, set up your website, hired your first employee. You even have a few customers who are willing to pay you for what you do. You are ready to roll. Are you sure about that? You haven’t… Read More

In recent years, consumers have increasingly turned to mobile food trucks for breakfast, lunch, dinner and snacks in between. A industry survey by IBISWorld placed annual revenue from food trucks around $1.2 billion in 2009 and annual growth rates from 2007-2012 near 8.4% annually. “Street Vendors in the US: Market Research Report” estimated that there are over… Read More

The defining factor between a nonprofit and for-profit organization boils down to IRS code 501(c) which excuses nonprofits from federal tax liability. These qualified charitable organizations face a tradeoff since they must distribute surplus earnings to a social cause. The individuals in a nonprofit possess limited liability about the incorporated legal entity, which provides both an upside and downside. The Definition of a Nonprofit Nonprofits refer to organizations like… Read More

It is said so often that it has become a bit of a cliché, but one of the great virtues of starting a home business are the tax breaks you can claim. Another popular belief surrounding home businesses, however, is that claiming aggressive – and maybe slightly exaggerated – write-offs is a sure-fire way to… Read More

Taxes can be stressful for a small business owner. You likely wear many hats and the last thing you want to do is pay more of your hard-earned business income to the government. Thankfully, there are many ways to reduce your taxable liabilityas a business owner and keep more of that revenue for yourself. If you need ways to reduce your… Read More

There are several ways to deduct business expenses from your small business revenue to reduce your tax bill. Certain business deductions can reduce your revenue dollar for dollar in most instances. You can also deduct certain expenses incurred during the startup phase of your business, but the rules are not as straightforward as those for deducting business… Read More

Starting a business is a big achievement for many entrepreneurs, but maintaining one is the larger challenge. There are many standard challenges every business faces whether they are large or small. These include things like hiring the right people, building a brand and so on. However, there are some that are unique to small businesses, ones most… Read More

Capital One revealed on Monday that approximately 100 million customers in the US and six million in Canada were affected by a data breach. The breach occurred over two days in March 2019 and compromised consumers and small businesses that applied for credit cards between 2005 and early 2019. Capital One said no credit card account numbers or… Read More