Owning and operating your own business involves a different set of challenges than working for someone else as an employee. You need to plan your own schedule, be consistent with marketing to bring in sales, and purchase health, life, and other forms of insurance on your own. Another area where a small businessperson is responsible […]
What Expenses Can Small Businesses Write Off? Read More »
Finding Potential Buyers: If you plan to sell your business, you will want to find good prospective buyers. In many cases, you will find that people are just interested in learning what a business of your type goes for or are just looking around for a good deal on a new business. Knowing how to
When the time comes to sell or transfer your business, whether to retire or just to move on to something new with your life, there are many accounting issues surrounding the planning for transferring your business. As you move through the process, make sure you take the appropriate steps not only to ensure you get
“Fixed assets” is a term describing all of the long-term operating assets that a business uses, whether it is a building, a crane, or even office furniture. Every fixed asset except for land costs is spread over the estimated useful life. The amount that each period receives is called “depreciation expense.” It is crucial for
The Importance of Understanding Fixed Assets and Accumulated Depreciation Read More »
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