A Profit and Loss is a statement that provides a financial breakdown of your business and its financial health. In addition, the Profit and Loss Statement assists when applying for business loans and personal loans.
One of the biggest concerns I had when starting my blog and online business was keeping my website and business protected legally.
There is much to think about when you prepare your small business for tax season. You can always make tax season easier on yourself by having an accounting system in place, keeping up with your bookkeeping, and understanding your small business deductions.
Small business owners can easily stay on top of their W9 forms by asking for a W9 form before work begins instead of waiting until the end of the calendar year.
Bookkeeping is the first step in compiling income and expenses and then turning the financial data into reports, statements, and many other essential tools you can use as a business owner.
I am going to start off by saying that income taxes do not go smoothly without the help of good bookkeeping practices in place.
