Finance
IRS Highlights Credits and Deductions for Small Businesses
During Small Business Week, the Internal Revenue Service reminds small business owners and self-employed individuals to take deductions and credits that will help their bottom line. This year, National Small Business Week is May 5-11….
5 Ways to Create a Professional Invoice Template
It is important for small business owners to have a developed invoice system and know how to make an invoice. An invoice is just a form that represents who you are as a business. An…
Avoid These 5 Common Mistakes on Your Loan Application
Lack of preparation and poor planning can sink your chances of getting approved for a small business loan. Your loan application is an opportunity to present your business in the best light. In other words,…
Income Tax vs. Payroll Tax: The Difference for US Payroll
Not all taxes are created equal—in terms of responsibilities, at least. When we see the words “income tax,” we may immediately associate them with our personal taxes we file each year. Or we even think…
Businesses Should Review Depreciation Deductions Rules
Businesses should know the tax rules for deducting depreciation on certain property. This deduction can benefit eligible business taxpayers. The Tax Cuts and Jobs Act made changes to the rules around depreciation that will affect…
Should All Businesses Produce a Cash Flow Statement?
When you’re running a business, cash flow is extremely important. All businesses have the same goal: to have more money coming in than there is going out. A positive cash flow enables your business to…
How to Handle Sales Tax
If you sell goods or services, you may have to collect sales tax from buyers or clients. But determining the amount to collect isn’t always easy. Each taxing authority sets its own rates and rules…
Is Your Small Business as Profitable as It Can Be?
There is an excellent chance that even if you’re an expert in your particular industry, you’re probably not an expert in small business finances. This may not seem like that big of an issue on…
How to Handle Outstanding Invoices
If you own a business, it’s likely you’ve encountered a customer or client who’s late in making a payment for goods or services you provided. Late payments can sometimes drag on for months or even…
Americans Abroad on Self-Employment Taxes on Foreign Income
How does self-employment tax work for those Americans, who live abroad, travel the world and work for themselves? Well, you still have to pay US taxes on foreign income if you are a freelancer, independent…
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