July 04, 2022Charles Lutwidge
If you need to improve your business strategy, take a look at your bookkeeping method. Proper bookkeeping enables small businesses to plan their budgets, file taxes, reduce taxable income by claiming deductions, etc. Bookkeeping has a myriad of benefits, so it’s..
July 01, 2022Charles Lutwidge
The debt service coverage ratio (DSCR) is a critical term for small business owners and individuals. DSCR indicates the ability of a company, business, or government to repay its debts. However, the ratio is more commonly used in the business world...
June 30, 2022Charles Lutwidge
You may have come across two different concepts, such as accountancy and accounting. Is it the same term? Or these two concepts have different definitions. Check out the article to find out. Understanding Accountancy Accountancy is a process of managing all..
June 29, 2022Charles Lutwidge
Choosing a payroll schedule may be confusing. Every system has benefits and flaws, which doesn’t make it easier to make up one’s mind. Keep reading the article to learn about two payroll schedules: biweekly and semimonthly payrolls. Hopefully, the article will..
June 23, 2022Charles Lutwidge
Investors know that buying a company’s stock leads to getting dividends. Moreover, buying the stock of a promising company can lead to an increase in the stock price in the future. As a result, the investor may get a good profit...
June 22, 2022Charles Lutwidge
If you own a business with an inventory, the most critical thing is to maintain it properly. Without keeping an eye on the inventory, it may become obsolete. This article focuses on obsolete inventory and ways of treating it. Understanding Obsolete..
June 17, 2022Charles Lutwidge
Small business owners have to deal with multiple various tasks. One of the most important tasks is handling finances. Such aspects as paying for rent and utilities, taking care of payroll, and properly maintaining inventory are just some of the expenses..
June 16, 2022Charles Lutwidge
Having a business is fun since you get to make your dreams come true. But it also leads to responsibilities. Business owners have to file taxes, pay salaries and wages, keep documentation in order, and at the same time improve the..
June 15, 2022Charles Lutwidge
1040 is an IRS (Internal Revenue Service) form. The IRS sends it to individual taxpayers to file their annual income tax returns. The form consists of sections that request individuals to disclose their taxable income gained during a specific year. The..