Mon, 28 Oct 2024 13:18:08 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 https://www.patriotsoftware.com/wp-content/uploads/2020/01/cropped-site-favicon-32x32.png 32 32 https://www.patriotsoftware.com/blog/accounting/scorp-vs-llc/ Thu, 03 Oct 2024 14:03:00 +0000 https://www.patriotsoftware.com/?p=51679 When you start a company, there are several business structures. Two popular types of business structures are an S corporation and LLC. Are you choosing between these structures? Find out the key differences between S Corp vs. LLC and learn which is best for you. S Corp vs. LLC Many business owners decide between starting […]

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]]> https://www.patriotsoftware.com/blog/accounting/beneficial-ownership-information-reporting/ Thu, 29 Aug 2024 16:04:00 +0000 https://www.patriotsoftware.com/?p=65406 A new rule, known as company beneficial ownership information reporting, took effect on January 1, 2024, impacting small business owners nationwide. Depending on your business structure, you must report beneficial ownership information (BOI)—aka who owns and controls your company—to the U.S. government. If you fail to comply, you could face hefty penalties of $591 per […]

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]]> https://www.patriotsoftware.com/blog/accounting/activity-based-costing-small-business/ Fri, 05 Jul 2024 17:30:00 +0000 https://pslohio.wpengine.com/uncategorized/activity-based-costing-small-business/ Not sure what activities your overhead costs are going towards? With activity-based costing, product-focused businesses can get into the nitty-gritty details to better allocate expenses. That means you can more accurately analyze your spending—and price your products. Activity-based costing is a complex subject. Read on to learn the basics of what activity-based costing is, how […]

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]]> https://www.patriotsoftware.com/blog/accounting/business-name-or-trade-name-difference/ Wed, 05 Jun 2024 21:13:00 +0000 https://pslohio.wpengine.com/uncategorized/business-name-or-trade-name-difference/ One of the first things you do as a business owner is choose a business name. Your business can operate under your legal business name. Or, you can operate your company under a trade name. So, what’s the difference? Read on to learn more about business names vs. trade names and how they contrast. Just […]

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]]> https://www.patriotsoftware.com/blog/accounting/how-to-conduct-audit-business/ Wed, 05 Jun 2024 14:34:00 +0000 https://www.patriotsoftware.com/?p=57388 A nerve-wracking visit from the IRS isn’t the only type of audit out there. There are several audits you can—and should—conduct regularly. To do that, you need to know how to conduct an audit. What is a business audit? First things first: What is an audit, exactly? An audit analyzes a business’s financial records to […]

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]]> https://www.patriotsoftware.com/blog/accounting/debits-and-credits/ Wed, 08 May 2024 15:20:00 +0000 https://pslohio.wpengine.com/uncategorized/debits-and-credits/ In accounting, there’s one thing you can’t ignore: how debits and credits work. To keep accurate books, learn and understand the difference between credit vs. debit. Debits and credits keep your books balanced and organized. Read on to learn more about debits and credits in accounting. What are debits and credits in accounting? Part of […]

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]]> https://www.patriotsoftware.com/blog/accounting/common-tax-scams/ Mon, 06 May 2024 19:04:32 +0000 https://www.patriotsoftware.com/?p=68037 Although the 2024 “Tax Day” is over, tax scams live on. The IRS compiles an annual list of common scams known as the “Dirty Dozen” list. Read on to learn about the most common tax scams in 2024 to avoid falling victim to them. And, find out how to protect your business and report tax […]

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]]> https://www.patriotsoftware.com/blog/accounting/how-do-you-determine-a-profit-margin/ Mon, 06 May 2024 16:35:00 +0000 https://pslohio.wpengine.com/uncategorized/how-do-you-determine-a-profit-margin/ To grow your business, you need to track financial information and measure performance. One metric you should be keeping an eye on is your business’s profit margin. Read on to learn how to calculate profit margin for your company and ways to improve your margins. What is profit margin? Before you can dive into calculating […]

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]]> https://www.patriotsoftware.com/blog/accounting/margin-vs-markup-chart-infographic/ Mon, 06 May 2024 15:16:00 +0000 https://pslohio.wpengine.com/uncategorized/margin-vs-markup-chart-infographic/ Business owners often confuse margin and markup. After all, they both deal with sales, help you set prices, and measure productivity. But, there’s a key difference between margin vs. markup—and knowing this difference is how you can set prices that lead to profits. Unsure about the difference between markup vs. margin in accounting? We’ve got […]

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]]> https://www.patriotsoftware.com/blog/accounting/three-golden-rules-accounting/ Fri, 03 May 2024 22:50:00 +0000 https://www.patriotsoftware.com/?p=49113 You might have heard of the Golden Rule in life: Treat others as you want to be treated. But, did you know that there’s also a golden rule for accounting? In fact, there are three golden rules of accounting. And no … one of them is not treating your accounts the way you want to […]

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