Managing Your Business

Learn how to keep your business running smoothly with tips on hiring practices, improving sales, reducing liabilities, and more.

IRS Phone Number for Business: What to Know Before Calling

If you find yourself among the multitudes of people who need to contact the IRS, here are some things you should know for once you get past the hold…

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What Is Franchise Tax?

Some states implement a franchise tax on businesses for the privilege of being chartered or operating within their borders. Unlike a state income tax…

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10 Key Tax Deductions for Your Small Business

Own a small business? You may benefit from utilizing these 10 deductions to lower your taxable income. Key deductions include those for home office…

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What is Variable Cost?

Understanding your business's variable costs can help you price your products correctly, remain profitable, and grow your business.

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What Is a Tax Credit and Which Credits Might Apply to Your Business?

Credits can reduce your tax liability dollar-for-dollar.

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How to Reconcile Your Bank Statements

What is the best way to catch fraudulent or erroneous bank transactions? Proper bank statement reconciliations. Here's a step-by-step guide to help…

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Why Do I Owe Taxes From My Business Despite Receiving No Money?

Learn how to avoid phantom income from your business.

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Revenue vs. Profit: What's the Difference?

Revenue and profit are both good signs for your business, but they're not interchangeable terms. Both represent an important way to understand your…

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What is Section 179?

Section 179 is a relatively small clause in the IRS tax code that can potentially yield big savings on equipment purchases. Understanding how to…

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Guide to R&D Tax Credits

The Research and Development (R&D) Tax Credit is a useful tool for a business to substantially decrease its tax liability. Many businesses that…

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