Every business must record all of its cash transactions in a cash book. A professional bookkeeper records these data and finds the difference between payments and receipts to determine the amount of available cash. So, how is a cash book prepared? More importantly, what is the importance of a cash book in accounting? Read more
A lot of us have a variety of hobbies that we enjoy. Your hobby might even be able to earn you some extra income. The question is, how do you know if your hobby is a business? Or can a business just be an expensive hobby? Learn all about the difference between a business and a hobby, and how it effects your taxes, in this guide. Read more
Keeping accurate accounts as a small business takes two major forms; accrual accounting and cash basis accounting. Both account types have benefits for either long-term or short-term purposes. Learn the difference between the two here. Read more
Filing taxes can be stressful, but there are a number of services available to ease the process. Among the most popular services are H&R Block and TurboTax. Learn the difference between the two, and which is best for you, in our guide. Read more
A nonprofit organization or entity is a type of organization that doesn't earn profits for the owners. It's tax-exempted due to its societal role. Often, a nonprofit organization can be for religious, scientific, and educational purposes amongst others. Read more
As an unconventional retirement account, the Roth IRA is funded by after-tax income. Learn all about the Roth IRA, and when you should consider opening one in this guide. Read more
Do you have to pay taxes as a US citizen even if you reside outside the states? Learn the ins and outs of paying American taxes as an expat living abroad. Read more
Being a new small-business owner means you have to figure out a lot of things for the first time. The first of these is how to create a business budget. The creation and maintenance of a proper budget will be a critical component of your success. This guide will show you how to create a business budget step-by-step. Read more
Making a profit in your Etsy shop qualifies you as a business owner. And owning your own business comes with a less-than-fun side effect: taxes. Find out how to file taxes as an Etsy seller in our ultimate guide. Read more