Day: October 5, 2023

  In today’s rapidly evolving commerce landscape, Direct to Consumer (DTC) business models have emerged as a disruptive force, reshaping how businesses connect with their customers. While the digital age has made it easier for brands to reach out directly to their consumers, it has also brought unique challenges in terms of accounting and bookkeeping.… Continue reading Direct to Consumer (DTC) Accounting & Bookkeeping Basics, Tips, & Tools

  The U.S. tax code is notoriously complex, but for business owners and entrepreneurs, it offers various deductions and credits to help reduce their tax liability. One such deduction is the Qualified Business Income Deduction (QBI). In this article, we’ll explore the ins and outs of the QBI deduction, including who qualifies for it, the… Continue reading What is the Qualified Business Income Deduction (QBI) and How Does It Work?

  Retained earnings on a balance sheet represent the cumulative amount of net income that a company has kept, rather than distributed to its shareholders in the form of dividends. Essentially, it’s the portion of net profits not paid out as dividends but instead reinvested in the core business or kept for future use. Located… Continue reading What is Retained Earnings on a Balance Sheet? W/ Examples

  What are debits vs credits? How do they relate to each other and why are they important?  You may not be an accountant or a bookkeeper, but it’s important to know these terms. As a business owner, this is how you know what money is coming in and what money is going out of… Continue reading Debits vs Credits: A Guide with Examples & How To’s

  How do I calculate my bottom line using the net income equation?    In this post, we’re talking all things net income and how to calculate it. We’ll go through factors affecting your net earning and what you can do to mitigate them.    What is Net Income?   Net income, also popularly known… Continue reading Net Income Equation | How to Calculate the Formula w/ Examples