Kaylee DeWitt

Structuring your business as a limited liability company (LLC) can have great benefits, but filing small business tax returns can get confusing. Because LLCs take aspects of both corporations and partnerships, there is not a standard LLC form you will use. Learn about the different tax forms for an LLC.

New businesses typically incur expenses before the business is up and running. You might need to research your market, hire a consultant, travel to potential suppliers, or open a facility. These are startup costs. When you incur startup costs, you must accurately record the corresponding ledger entries in your accounting books. And, you must properly […]

Do customers pay you for your goods or services before you actually deliver them? If so, you need to know about deferred revenue. Learn about deferred revenue and how to record it in your accounting books.

If you’re starting a business and have one or more partners, it might seem obvious to form a business partnership. This is a business structure that allows you and at least one other person to both have ownership of the business. Even though forming a partnership might make sense, it’s not your only option. Before […]

Running a business has some indirect costs. These costs aren’t always apparent, which is why they’re the hidden costs of running a business. It’s important to keep track of your business’s indirect costs. And, you should know how your indirect costs compare to your direct costs. To do this, you’ll need to find your burden […]

Taking on business debt can be a good thing. Debt can help you finance your business, purchase more items, and expand your offerings. But, there is a dark side to debt. Debt can become too much to handle and overwhelm your business. If your business doesn’t meet sales projections, its debt can get out of […]

During the process of building your business, you might need small business loans at some point. Business loans can help you through difficult times or help fund expansion. Getting a small business loan can be tough. It’s not as simple as applying for a small business loan and then receiving a bunch of money. It’s […]

Every business owner must know if they have enough money to pay their business’s bills. Basically, your assets should be greater than your liabilities. But, knowing if you can pay your bills is a little more complex than seeing that your total assets are greater than your total liabilities. That’s why you should know how […]