Taxes & Accounting

Getting Started (Basic Accounting)

• How to Create a Business Plan - Many would-be entrepreneurs shudder at the prospect of putting together a business plan, but the task need not be daunting.
• How to Develop Cash and Capital Budgets - A budget is a blueprint for your business's future. Learn how to develop cash budgets to create a plan for operations, and a capital budget to evaluate major capital investments.
• The Right Accounting Method for Your Business: Accrual or Cash - Learn the basics of maintain your books and keeping track of your income and expenses through the cash or accrual methods.
• Forms of Business Ownership: Corporation, Partnership, Proprietorship - Learn what options you have from this information that will help you to make an informed decision.

Understanding Standard Financial Reports

• Balance Sheet - The Balance Sheet describes the overall health of a business: What it owns and what it owes. This article is a guide to preparing and evaluating a balance sheet.
• Income Statement - An Income Statement or Profit and Loss (P & L) statement measures a company's sales and expenses over a specified period of time. You can use this guide to create a profit and loss statement for your business.

Analyzing Financial Performance

• Useful Financial Metrics 1 - Learn about Financial Metrics like Gross Profit Margin, Net Profit Margin, Quick Ratio, and Accounts Receivable Turnover… and how they can help you analyze your business.
• Useful Financial Metrics 2 - Learn about more Financial Metrics like Return on Investment, Debt to Equity Ratio, Economic Value Added, and Asset Turnover Ratio… and how they can help you analyze your business.
• Useful Financial Metrics 3 - Learn about Financial Metrics like Return on Assets, Return on Equity, Inventory Turnover Ratio, and Profitability Index… and how they can help you analyze your business.

Making Smart Financial Decisions

• Financial Forecasting - You cannot plan without forecasting. Learn the basics of forecasting sales, production and cash.
• Pricing - Pricing products and services competitively – while still managing to clear a profit – can prove to be one of the biggest challenges facing owners. Learn the basics of pricing.
• Business Insurance - Protect your company and your employees. This article will help you determine the types of insurance your business needs.
• Company Vehicles: Lease vs Buy - Company vehicles can be purchased or leased; this article will help you determine which method of ownership is right for your business and your needs.
• Break-Even Analysis - Are you making or losing money with you pricing or management decisions. This article will help you make sound financial decisions.
• Borrowing Wisely - Finding a banker and determining whether to seek short or long term financing can be daunting. This article will help you determine what might be best for you.
• Business Valuation - What is your business worth? Learn why and how to perform a business valuation.

Managing Cash Flow

• Cash Flow – The Life Blood of Your Business - Cash Flow is vital to the life of your business. This primer will help you understand the basics – and the basic terminology – of cash flow.
• How to Manage Accounts Receivable - Every business needs to be paid on time; this article includes ways to manage accounts receivable and improve cash flow.
• How to Avoid and/or Survive a Cash Crunch - Businesses of all sizes can find themselves in a cash crunch. This article will help you avoid a cash crunch and if worse comes to worst, survive short-term cash problems.
• Managing Inventory - Your want to ensure that you minimize cost and maximize customer satisfaction. This primer will help you determine the right levels for you.
• Credit Checks - No sale is complete until money is in your account. This article will help you determine whether to extend credit – and if so, under what terms.
• Optimize Collection Efforts - Receiving the money you are owed can at times be difficult; this article will help you put a straightforward collections process in place for customers who are slow to pay.

Taxes

• Depreciation - You should an accountant to help you with your taxes. This section gives you basic informaiton on depreciation to help you when talking with your accountant.
• Payroll & Payroll Taxes - What are your options with handling Payroll and Payroll Taxes? This will help you decide what option is right for you.
• How the IRS Determines Independent Contractor Status - When the line between employee and independent contractor is fuzzy, huge penalties can result. This will help you determine whether a worker is an employee or an independent contractor.
• Deducting Vehicle Expenses - This section provides basic information on how to deduct vehicle expense. This will help you with the basics when speaking to your accountant.
• Home Office - If I work out of my home, do I qualify for tax considerations? Learn the basic.
• Meal and Entertainment Deductions - Make the most of meal and entertainment expenses. Learn what expenses qualify and how to keep accurate records.