What is the Qualified Business Income Deduction (QBI) and How Does It Work?

  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?

What is Retained Earnings on a Balance Sheet? W/ Examples

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  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 Does Bookkeeping Consist Of? A Guide for Entrepreneurs & Business Owners

  In the fast-paced world of entrepreneurship and business ownership, maintaining accurate financial records is a non-negotiable task. This is where bookkeeping comes into play. Whether you’re a seasoned entrepreneur or just starting your business journey, understanding the ins and outs of bookkeeping is crucial for your financial success. In this comprehensive guide, we will… Continue reading What Does Bookkeeping Consist Of? A Guide for Entrepreneurs & Business Owners

A Guide to Finding & Using the Shopify Profit Report

  In the world of e-commerce, understanding your profits is paramount to sustainable growth and success. Shopify, a leading e-commerce platform, offers a powerful tool known as the Shopify Profit Report. This comprehensive guide will walk you through what the Shopify Profit Report is, how it can benefit your business, and how to effectively utilize… Continue reading A Guide to Finding & Using the Shopify Profit Report

Free Balance Sheet Template for Google Sheets, Excel, or PDF

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Are you in search of a reliable and efficient way to manage your financial data? Look no further! In this article, we’re diving deep into the world of balance sheets and how a free balance sheet template for Google Sheets, Excel, or PDF can revolutionize your financial tracking process. Whether you’re a small business owner,… Continue reading Free Balance Sheet Template for Google Sheets, Excel, or PDF

5 Balance Sheet Examples of Small Businesses

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In the realm of small businesses, understanding financial health is paramount. A crucial tool for achieving this is the balance sheet. This comprehensive article delves into the world of balance sheets, exploring their components, purpose, and providing 5 easy-to-understand balance sheet examples of small businesses. Whether you’re a business owner or simply curious about financial… Continue reading 5 Balance Sheet Examples of Small Businesses

Which Account Does Not Appear on the Balance Sheet?

Ever wonder which account does not appear on the balance sheet? You’ve come to the right place!     When it comes to understanding a company’s financial health, the balance sheet is a crucial tool. It provides a snapshot of a company’s assets, liabilities, and equity at a specific point in time. However, not all… Continue reading Which Account Does Not Appear on the Balance Sheet?

W2 vs 1099 Workers: Know the Difference Before Hiring

  When business owners or employers seek to expand their workforce, they often face a crucial decision – the differences between W2 vs 1099 workers and which to hire. Understanding the differences between these two classifications is essential for compliance with labor laws and tax regulations. This article aims to shed light on the disparities… Continue reading W2 vs 1099 Workers: Know the Difference Before Hiring

What is a Bank Reconciliation? Definition, Examples, & How To

  Are you puzzled by the term “bank reconciliation”? Do you want to understand its significance and how to perform it efficiently? Look no further, as we present a comprehensive guide on bank reconciliation. In this article, we will delve into the definition, examples, and step-by-step instructions on how to perform a bank reconciliation successfully.… Continue reading What is a Bank Reconciliation? Definition, Examples, & How To

Cost Accounting Basics You Should Know | Definition & Examples

  Whether you’re a business owner, an aspiring accountant, or simply curious about the world of finance, understanding the fundamentals of cost accounting is crucial. In this article, we will delve into the definition and examples of cost accounting basics, shedding light on its importance and how it can benefit businesses. So, let’s dive into… Continue reading Cost Accounting Basics You Should Know | Definition & Examples

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