According to the IRS, there are two types of business expenses: business and capital. A business expense is an ordinary and necessary expense without which you cannot run your business. They include things such as rent, insurance, and state taxes. A capital expense is...
Are you a sole proprietor considering a switch over to become an LLC? You may have some questions you need answers first to like: How do you create an LLC? What are the Benefits of an LLC in comparison to a sole proprietorship? What do you need to maintain your LLC...
By now, pretty much everyone has heard of or knows what cryptocurrency is. Bitcoin has, in many ways, taken the world by storm. Ethereum and other types of crypto coins are not far behind. The emergence of cryptocurrency and many businesses now happily accepting it...
Fixed capital and working capital are vital to any business’s success. Some newer business owners just starting may not know the difference yet. Let’s discuss what these terms mean. Working Capital Working capital is the difference between your...
On June 2, we celebrate National I Love My Dentist Day. This is a day during which we honor and raise awareness about the hard work done by dentists across the country. They help keep our mouths and teeth healthy, which is extremely important for everyone. Dentists...
In terms of record-keeping, there are three must-haves for any successful business. Keeping tabs on all financials is very important for the company’s economic health. This is where business financial statements come into play. You’ll know exactly where...
