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Your accounting, tax, and business finance questions answered.
Which Tax Records Should Small Businesses Keep?
When tax time comes around, your accountant will ask for quite a bit of documentation to support…
What Is an EIN, and How Do I Get One?
If you are considering starting a business, the first few steps will be to choose…
How Are 1099-MISC’s Used for Freelancers and Contractors?
A 1099 is a form required by the IRS for tax purposes. There are several…
What Is Gross Income?
You may have an understanding of gross income as it pertains to an individual, but…
How Should I Evaluate My Year-End Spend?
Your business has had a strong year, and you’ve turned a profit. The end of…
What Is Cash Runway?
Cash runway and burn rate go hand-in-hand. In fact, your burn rate is required to calculate your…
What Does Burn Rate Mean?
Burn rate is a measure of how long your company can operate until it runs…
What Are Assets, Liabilities, and Equity?
Assets, liability, and equity are the three components of a balance sheet. In order for the balance…
What Does It Mean to "Close the Books"?
Even though accounting has mostly gone digital, the term “closing the books” continues to stick…
