For many businesses, collecting sales tax is a mandatory part of selling goods and providing services. After collecting sales tax from customers, you are responsible for remitting the tax to your state or local government. But before you start collecting, you need to know how to calculate sales tax. Figuring sales tax rates can be […]

When it comes to company taxation, each state has its own set of laws for businesses. And depending on your type of business structure, you might be subject to different types of laws, such as the throwback rule. Eager to learn more about the throwback rule? Read on to learn what it is and whether […]

Receiving a tax notice from the IRS can be scary. But, there are basic steps that you can take when responding to IRS notice. What is an IRS notice? An IRS notice is an official letter from the IRS, typically relating to federal tax returns or tax accounts. Individual taxpayers and businesses can receive notices […]

Calculating your business profits shows you how much money your company brings in. But, not all profit data is the same. There are two types of profit you should understand and use to measure your financial health: gross profit and net profit. What’s the difference between gross profit vs. net profit? Knowing what gross profit […]

When you run a small business, every little cost counts. Making poor purchasing decisions can put an unnecessary financial burden on your business and lower your company’s bottom line over time. Before you purchase new assets for your business, practice life cycle costing. Knowing the life cycle cost, or whole-life cost, of an asset impacts […]

Do you need extra capital for your small business? If you’re thinking of securing a business loan, you should know how much it’s really going to cost you. Before taking out a new loan, understand how small business loan interest rates and fees work. Unexpected expenses can lead to negative cash flow and a drop […]

Getting funding for your business is no walk in the park, especially if you’re just starting up. But in order to keep your business dream alive, you need capital. Depending on what stage your business is in, you might seek funding from a venture capitalist (VC) or angel investor. Learn the difference between angel investors […]

Are you thinking about opening a seasonal business? Operating for only part of the year can be challenging. Prepare for the highs and lows of your first season by understanding how to start a seasonal business now. How to start a seasonal business Starting a seasonal business is similar to a year-round startup. But, you […]

Taking on business debt can be a good thing. Debt can help you finance your business, purchase more items, and expand your offerings. But, there is a dark side to debt. Debt can become too much to handle and overwhelm your business. If your business doesn’t meet sales projections, its debt can get out of […]

Your roof starts leaking. So, you hire a contractor to put in a new one. At the end of the job, you receive a piece of paper—an invoice—from the contractor billing you for their services. And if your business sells goods or services to customers and doesn’t collect money immediately, you’ll also have to send […]