The pandemic was challenging for most, and getting through processes like balancing accounts books and sorting out bank statements was the last thing on anyone’s mind. While everyone has to work on accounts, individuals and businesses found it challenging to get through processes. Many companies could not keep up with the changes, and they had… Read More
The Paycheck Protection Program Liquidity Facility (PPPLF) was created on April 9, 2020, to bolster a key component of the massive $2 trillion stimulus bill passed in March 2020. Specifically, the PPPLF loans money to commercial lenders that are, in turn, loaning money to small businesses through the Paycheck Protection Program (PPP). Read More Original Article Source Credits: Investopedia… Read More
There’s really no getting around it—you usually have to pay federal and sometimes state taxes on a portion of your income. But “usually” is the pivotal word here. There are exceptions if your annual salary falls within the minimum amount. Otherwise, Uncle Sam expects you to share. Read More Original Article Source Credits: The Balance… Read More
An excise tax is a tax that targets a specific product or activity. It’s not a general, obligatory tax that affects a large portion of the population, such as a tax on income. It zeros in on something that perhaps only a portion of the population spends money on. Read More Original Article Source Credits: … Read More
Traditional bookkeeping was performed using one of two systems. Accountants and bookkeepers used the systems to manually calculate company books and present financial statements in accordance with federal regulations. The two main systems still exist in today’s digital era, but it’s much easier to perform bookkeeping tasks for your company on the computer than by… Read More
The accounting cycle consists of eight steps that detail how a company records, processes and analyzes all of its financial transactions. Understanding each of the eight steps in detail can give you insight into the best way to record financial information while giving you a chance to check your work and confirm that your financial… Read More
When you don’t have the personal or investment capital necessary to start a business that requires a good chunk of it, the logical answer is to look into a business loan. And although just about any loan involves receiving a lump sum of cash and paying it back over a period of time, not every loan program is… Read More
Owning a successful business and actually running one are two quite different things. You might have huge amounts of capital and plenty of regular customers, but your business won’t thrive if you don’t have effective bookkeeping skills as well — at least if you intend to run the financial side of things yourself. Original Article Source Credits: The Balance Small Business … Read More