How to Separate Business and Personal Taxes in 6 Steps
Knowing how to keep your business and personal finances is crucial for tax season — and commingling your finances may draw scrutiny from the IRS. Here are the steps every business owner should take to keep their financials separate.
W-9 vs 1099 Forms: What They Are And How to Make Tax Season EASY
It’s not a matter of W-9s vs 1099s. Rather, both are key tax forms required by businesses and the independent contractors that they work with. Let’s take a closer look at what they are and how they work in conjunction.
Understanding the Operating Profit Formula & How to Calculate it
Operating profit tells you how efficiently you’re running your business. How much money do you have left over after all the necessary expenses of running your business are deducted? The operating profit formula helps you figure out this number.