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Business bonds are generally intended to protect customers in cases where a business may not follow through with certain obligations or if the business fails to follow regulations related to...
Being licensed is a requirement for nearly all businesses, big or small. The purpose of business licenses is so that businesses can be identified and held accountable for their actions,...
A business plan is a more traditional way of gathering your plan for starting and running your business. In some ways they can be helpful, as one of the most...
Cost of Goods Sold is an accounting term that can seem a little scary, but it's pretty simple. It's sometimes referred to as Cost of Sales (COS). Simply put, it's...
DBA stands for "Doing Business As," which is a company name, also commonly called a "Fictitious business name." When a sole proprietor operates a company using any name except his...
The IRS uses an employer identification number (EIN) to identify businesses for tax purposes. Each number is unique to the business it's assigned to and is needed in order to...
When you take out a loan from a bank, you're expected to pay back every penny of that loan amount as well as a fee on top of it, and...
Most businesses are Sole Proprietorships, but most smart Sole Proprietors end up as LLCs (or Limited Liability Companies).
Your business's profit is a great way to see how much money your business is actually bringing in, but margins can be an even better way to measure how well...
You've heard of Small Business, but have you heard of Micro Business? The term isn't used very often, and it's not well known. Micro Business often gets lumped in with...
If you're running a business in any capacity and you have expenses that you have to pay to keep the business going, those are your operating expenses. Operating expenses are...
Payroll is best defined as the money you pay your employees. For most businesses, it's the largest overhead because it's a big recurring expense. Many service-based sole proprietor businesses end...
Profit is generally the money your business has left over after you take away expenses, but there are two similar, but fairly different types of profit:
A quarterly report is a business and accounting report that outlines how a business has performed in the past quarter. It's typically used in small, medium, and large businesses, and...
Revenue is the total income your business has earned as a result of doing work or selling a product to a customer before any expenses, charges, or other costs are...
A Sole Proprietorship is a type of business. In fact, it's the most common type – around 70% of businesses are Sole Proprietorships. The reason there are so many is...
Workers' compensation covers medical care and lost wages to any employee who gets hurt while working for your business. It also protects your business business from lawsuits an employee may...
