As a business owner, you are concerned about tax liability every year. Depending on your levels of revenue and expenses, taxes can vary from year to year. If you have registered your company as a c corporation, then you may have experienced “double taxation” before when year-end financial reports are due, on what you owe […]
The difference between an income statement and a profit and loss statement is in name only. Both of these terms refer to a report that shows the overall sales, expenses and net income. How does understanding this type of statement help business owners understand their financial health? The income statement is one of the easier […]
Remember that one month? The one where the business almost didn’t make payroll? This may have likely been due to cash flow shortages within a short period of time. Averting these problems may well require some careful planning and preparation for the future. Such plans should include contingencies and alternative sources of capital when other […]