Michele Bossart

Gross income is an important financial figure you can use to calculate other figures and determine how your business is doing. Learn about gross income, how to calculate it, and how to use it.

Incoming revenue is vital to business growth, but it doesn’t paint the most accurate financial picture of your business. You must know whether your company is profiting after deducting business expenses. You need to determine your business’s net income. Calculating your business’s net income helps you determine your business’s profitability, decide whether to expand or […]

When you own a small business, it’s important to have extra cash on hand to use for investing or paying your liabilities. But with money constantly coming in and going out, it can be difficult to monitor how much is leftover. Use a retained earnings account to track how much your business has accumulated. Knowing […]

Are you struggling to pay your business or employment tax liabilities? If you fail to pay, you might face a tax lien. For a small business owner, a tax lien can have devastating effects. That’s why you must understand tax liens to prevent them.  

When you own a small business, you make decisions to protect your company. Throughout the life of your business, you might need to seek advice or help from professionals. In some cases, you might entrust a fiduciary to manage assets or provide business advice. According to one poll, 27% of people don’t what a fiduciary […]

You know that spending less on business expenses like supplies and inventory can help you maximize your business’s profits. You can’t just eliminate those expenses; otherwise, you wouldn’t have anything to sell. But, you can possibly reduce how much you spend through wholesale buying. Wholesalers supply businesses with products in large quantities. Businesses that buy […]

Business assets are items of value that significantly contribute to your small business net worth. You need to properly calculate, take care of, and record your business’s tangible assets. Learn about tangible assets below.

Overhead costs are necessary business expenses. You need them to run your business. You can never get rid of them, but you can reduce them. Discover types of overhead costs and how to calculate how much overhead you have.

If you’re a small business owner, you might want a loan to help finance your company. Securing a business loan is not easy. You might need to offer collateral to get the loan application approved. What is collateral?