Blog Category: Accounting, Payroll, & Taxes
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Is Accounts Receivable an Asset?
Accounts receivable can be a frustrating area. With 48% of customers delaying payments, it can often feel like accounts receivable is a liability rather than an asset. If accounts receivable turns into bad debt, then this becomes a company loss. However, before that happens, accounts receivable should not be considered a liability. Which begs the […]
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7 Tips for Choosing Payroll Services for Your Small Business
Is your small business looking for a new payroll service provider? Deciding to outsource your payroll or switching payroll companies can be a big change. This helpful guide has 7 tips for choosing payroll services for your small business that will help you successfully make the switch. 1. Consider the Timing Before you look at […]
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How to Manage Payroll Effectively: A Step-By-Step Guide
Did you know that if you do not manage payroll correctly and it is not in order, the IRS can fine you up to 15% of any outstanding withholding taxes? However, besides potential IRS fines and penalties, mismanaged payroll can have a lot of other adverse effects. These include disgruntled employees, increased costs, administrative inefficiencies, non-compliance around […]
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Earnings Before Interest and Taxes – How to Calculate EBIT
These are uncertain times for stock market investors. All three major stock market indices are in the midst of a correction. Adding more risk to the global economy is the ongoing coronavirus pandemic. In fact, Wall Street’s fear index hit its apex of 83 during March. This was even higher than the peak during the […]
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FUTA Tax Rate: Discover What It Is and How It Works
As an employer, you have to deal with a lot of different taxes, from income tax to Social Security, and Medicare. Now, you probably already know the basics of those tax rates. But you shouldn’t forget about the FUTA tax rate, especially if you have multiple employees. FUTA tax is just as important as other taxes, but […]
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7 Staffing Agency Payroll Funding Ideas You Need to Know
It may seem like businesses have come to a grinding halt due to the coronavirus epidemic. While that’s true for some industries, others are overwhelmed and need to hire thousands of employees which is where payroll funding comes into play. This presents a huge opportunity for staffing agencies. These companies need to hire staff quickly, […]
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What Is an Invoice?
An invoice is one of the most basic business documents. However, you may have questions if you’re new to running a business. You may also have questions about its details. Or, wondering if there’s anything to do with them besides filing them away and later forgotten. What is an invoice? What’s it used for? How […]
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Invoice Example for All Kinds of Business
It’s no secret that sales are the lifeblood of your business. This is true whether you’re a freelancer, small business owner, or CEO of a Fortune 500 company. Unless customers are already paying for your goods or services, your brand is just a dream on paper. Yet, before that big day comes and you make […]
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Net Working Capital (NWC): Everything You Need to Know
According to statistics, 82% of business failures are due to insufficient cash flow and a lack of net working capital (NWC). Perhaps more alarmingly, global reports show that more than 90% of businesses may not have a transparent view of their cash flow. If you are looking to optimize your cash flow, one of the […]
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1099 vs W2: The Difference, Why It Matters, and Everything in Between
The American workforce is changing dramatically. An increasing number of Americans are breaking ties with employers and going out on their own. This is causing employers and the workforce to make decisions between 1099 vs W2. These individuals classify themselves as independent workers and are technically their own boss. They work under contract with another […]
