As a small business owner, you must know which forms to file. And if you’re a sole proprietor or sole owner, you need to understand the ins and outs of Schedule C. So, what is a Schedule C?
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Guest Author:
Maria Tanski-Phillips
Maria creates helpful and practical content for Patriot’s marketing department. She began as a Content Writer in 2018.
Breaking Down the Basics of a Financial Analysis Report
If you want someone to invest in your company, you need to be able to tell them why it’s worth the investment. And, you must be able to back up your claims with strong financial data. To show investors why your business is a good investment, develop a financial analysis report.
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Modified Cash-basis Accounting: How Does it Differ From Other Accounting Methods?
As a small business owner, you need to track your income and expenses. And to organize your business finances, you must select an accounting method. One method you can choose is modified cash-basis accounting. Learn the ins and outs of the modified method, how it differs from other accounting methods, and its advantages.
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How to Organize Business Receipts and Kick Clutter to the Curb
As a business owner, it’s easy to get caught up in the hecticness of running your company. Because of this, keeping accounting records like business receipts, invoices, and, expenses organized can be difficult. Learn how to organize business receipts with a few simple storage solutions.
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What Is the Penalty for Late Tax Return?
Forgetting to submit your tax return can be stressful. And even worse, the IRS can charge you a late filing penalty. Read on to learn about the penalty for late tax return and what you can do to avoid future penalties.
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Conduct a Profit Margin Analysis to Pinpoint Profitability Problems at Your Business
Your business’s profitability plays a major role in whether your company succeeds or fails. And if you want to find out how profitable your business is, you need to look at your profit margin. But if you really want to see where your business stands, you have to do a little more digging and analyzing. […]
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Clearing up the Confusion of Purchase Order vs. Invoice
As a business owner, you are responsible for handling many documents to keep your business’s finances on track. And if your company deals with business inventory, you’ll probably find yourself juggling both invoices and purchase orders. Some business owners might think purchase orders and invoices are one and the same. Heads up: purchase orders and […]
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Starting up a Business? Here’s the Best State to Start an LLC
When you start a business, you are responsible for choosing a business structure. One structure you can select is a limited liability company, or LLC.
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What Is Double Taxation, and How Does it Impact Your Small Business?
Corporations have different rules and responsibilities than other business structures. And if you own a corporation or are a shareholder of one, you should know what double taxation is. Unlike other types of business structures, corporations are subject to double taxes. Read on to get the answer to what is double taxation and quiz yourself […]
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7 Tips for Working With Independent Contractors
According to a recent study, one out of every 10 workers is an independent contractor. With so many contractors making up the workforce, you’re bound to work with or hire one at some point. Hiring contractors can be beneficial to your business. But if you’re going to be working with independent contractors, you need to […]
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