Small Business Basics

A laundromat can be an extremely lucrative business, worth every bit of the owner’s investment. However, when you start a business, it is important to monitor the successfulness of the business by...

As someone who may be new to creating a budget or requesting purchasing equipment or consumables for a company, you will find it helpful to know how to work with a capital budget versus an...

Small business owners who operate as sole proprietors, and people who receive income as independent contractors, are required to fill out the 1040 Schedule C form as part of their annual tax...

Many business expenses are tax-deductible and can help reduce your burden on April 15. Keep organized, detailed records or receipts for all of your tax-related expenses, in case the IRS wants to...

Although running a small business is sometimes challenging, there are many benefits as well. One of the biggest benefits is the large number of tax deductions that small businesses can claim....

Whether your farm is your sole source of income or it is a part-time venture, you are in business to make money. You will incur a variety of expenses as you operate your farm and attempt to earn...

The success or failure of your small business can depend on your ability to develop, manage, and control a company budget. Rarely is the budget planning process looked forward to with relish;...

Whether you make your living off of a farm, or just work your farm for fun, you are required to file a schedule F to report any income that farm produces. The good news is you can also use some of...

Operating profitability on an income statement represents the amount of money made after all costs of goods sold and selling, general and administrative expenses have been subtracted from all...

(Look for Granny's Grammar Nuggets at the end!) Do you think you don’t know how to make a budget? Think you don’t need a budget for your small business because it’s small? Does the prospect of...

To figure out profits and loses for a small business, input all income and expenses into a software program that will determine how much money has been made and how much money has been lost on...

When you run a small business, you watch your spending carefully. So, to may seem that there is no place left to cut expenses. When the economy demands a little extra stretching, it can seem like...

Business expenses can be fixed, which are expenses like rent that are always the same; variable, which are expenses that change from month to month; or a mixture of fixed and variable. Identify...

Tax deductions can be tricky things. For instance, many people don’t know that they can deduct business mileage from their taxes, as long as that mileage is work related and not simply the act of...

In business, cash is king. This is clear at the end of every month when accountants scramble to close the books and create reports for senior management. One key benchmark that managers are always...

All small business owners should know how to identify legitimate business-related entertainment deductions so they can claim them come tax time. Follow these steps to learn more.