Janet Berry-Johnson, CPA

The day you hire your first employee, you become responsible for payroll tax. Here's how to calculate it.

If you want to get paid faster, you need to understand accounts receivable. Here’s a full rundown.

How much are you spending and how much are you keeping? Profit and loss statements are the key to finding out.

A good CPA isn’t cheap, but their deep accounting, tax, and financial knowledge can benefit your business in the long run.

Master cash flow statements, master your business’s cash flow.

How profitable is your business? Your income statement will tell you.

Net income, net earnings, bottom line—this important metric goes by many names. Here’s how to calculate net income and why it matters.

Debt sucks, but you usually can’t run a business without it. Here’s everything you need to know to make sure you’re recording it in your books properly.

If you had to liquidate your business today, how much could you get out of it? Your owner’s equity account has the answers.

That "retained earnings" line on your balance sheet matters a lot—here's how to make sense of it.

Find the best trucking accounting software for your business with our comparison guide. Read about features, pricing, and more to make the best decision for your company.

When it comes to taxes, LLCs are shapeshifters. Learn the right way to pay yourself, depending on your business structure.

Accounting for a medical practice has some unique challenges. Follow these best practices to keep your practice in the black.

Shopping for small business accounting software can be painful and confusing. To make your search easier, we’ve narrowed it down to these twelve picks.

How profitable is your small business? Gross profit and net profit will tell you.

Accountants aren’t just numbers people—they’re business advisors.

Trying to analyze your business performance? Here’s how to calculate and evaluate ten crucial financial ratios.

With Stripe plus the Bench app, you can keep track of more than just payments. Here’s how to get a holistic view of your numbers.

When you know how to read your financial statements, you can find ways to increase your profit, and catch problems before they grow.

As an essential ingredient in financial forecasting, pro forma statements let you try on the future for size—and see which business moves are the right fit for you.

If you can read an income statement, you can read your business.

Your financial statements are more than a look at how your business performed in the past. They can help you make decisions now and in the future.

What is revenue recognition and does it affect your business?

Trying to measure liquidity? Here’s how to calculate the current ratio, a financial metric that measures your company’s ability to pay off its short-term debts.

If you’ve received a good or service and plan to pay for it in the future, you have to record it in your books as an accrued expense. Here’s how to do it properly.

Cash-basis accounting is simpler for many small businesses, but some are required to file taxes using the accrual basis. Relax: you don't need two sets of books.

Understanding operating expenses can help you keep tabs on how efficiently your small business generates revenue. Here’s what you need to know.

If you're a startup burning cash, you'll need to pay attention to your burn rate. Here's what that means.

Organizing your expenses into specific budget categories helps you prepare for a smooth tax filing season and make more informed business decisions.

Learn how to handle your small business accounting and get the financial information you need to run your business successfully.

Being fluent with your financial statements allows you to see where your money is going, where it’s coming from and how much you have to work with.

Borrowing money costs money. How much money? Calculating the cost of debt will tell you!

Profit margin and markup are like two sides of the same coin. They describe the same thing, but from different perspectives. Here’s how to tell the difference - and why it matters.

Retained earnings are like a running tally of how profitable your business has been since it first started up. Here’s how to calculate it.

Self-employed? Here’s a list of the common tax deductions to take advantage of.

Tips for positioning your business to adapt to potential changes brought about by the incoming 2025 Trump administration.

If you own a residence, rental or business space you’re responsible for paying property taxes. In this article we dig into how to properly claim property tax deductions.

The self-employed health insurance deduction is a tax benefit that helps people who own a business pay for health insurance. Claiming the self-employed health insurance deduction involves several steps, but it's pretty straightforward once you understand the process. Let's show you how.

If you missed filing a previous year’s tax return, don’t count on the IRS forgetting about it. There are several reasons to file your tax return retroactively.

An SFR is the IRS’s way of filing a tax return on your behalf when you haven't done so yourself. The IRS uses only the income information they have on file, such as W-2s, 1099s, K-1s, and other income documents reported to them by third parties. While this might seem helpful, it has a serious downside.

A taxpayer in non collectible status cannot be collected on by the IRS. This guide walks through criteria for applying and how to get in CNC status.

Innocent spouse relief relieves you of tax burdens resulting from an error in a married joint filing tax return when specific conditions are met. Find out more and how to apply in our guide.

Find out how the IRS can withdraw funds and what you can do to prevent it. Learn about your rights and steps you can take to stop IRS bank account seizures.

A federal tax lien is the government's legal claim against your property when you don’t pay the taxes you owe. Federal tax liens apply to all assets, including real estate, personal property, and financial accounts. They ensure that the government gets paid before other creditors if you sell your property.It might sound scary, but there are ways to address it.

You've heard of "spend money to make money," but what about "spend money to save money"? That's the case with tax deductions and you won't want to leave any on the table.

Here’s what you need to know about itemized deductions, the standard deduction, and how to choose between them when preparing your tax return.

Confused about Form 1040? You’re not alone. Here’s a clearer look at how to file your income tax this year.

W-9 is the form you use to send people your Taxpayer identification number (TIF). Here’s how to fill it out properly.

Many people are unaware that they don't need receipts to claim common tax deductions. Here are some of the most common ones business owners can make without a receipt.

Tax time can be confusing for rideshare drivers. We break it all down and give you exactly what you need to file your tax return.

Our detailed guide to Form 843 shows you how to get out of IRS penalties and interest. Find out when and how to use this form effectively.

Here’s a list of small business tax deductions commonly available to entrepreneurs. Check it twice, and make sure you’re claiming everything you can.

Run a sole proprietorship? Here's everything you need to know about filing your taxes.

A step-by-step walkthrough on how to fill out Form 8829 for home office expenses.

Need some extra time to file your federal tax return? You can ask the IRS for a six-month extension using Form 4868.

If you're self-employed, here are the taxes you need to pay.

Your employees don’t need to wear lab coats for you to benefit from the R&D tax credit. Read this to find out whether your small business qualifies.

Alternative Minimum Tax is aimed at high-earners, to make sure they pay their faire share. Here's how it works.

S corps get some interesting tax benefits. Here's how it all works.

For select businesses, easy tax savings are just one form away. Rather than figure out how to take advantage of this on your own, check out our simple guide.

Learn the fundamentals of small business tax rates so you’ll know what to expect at tax time.

If you want retirement benefits, federal disability insurance, or any other kind of Social Security, you need to pay Social Security tax. Here’s how.

Bonus depreciation can deliver serious tax savings for your small business. Here’s what you need to know.

With working from home being more normal, it's time to take advantage of the potential tax savings it grants you.

If your small business processes lots of debit or credit card payments, you might receive something called a 1099-K in the mail at the end of January. What exactly is 1099-K? And what should you do with it?

While you can’t escape tax season, you *can* make it less painful by claiming all of the deductions you’re eligible for as an ecommerce entrepreneur.

The IRS may be getting an additional $80 million to help enforce tax law, but your chances of facing an IRS audit are likely the same as they’ve always been.

Figuring out your business’ taxable income is the first step toward estimating how much tax your business will owe.

Prior to 2022, Corporations used Form 1120-W to calculate their estimated tax payments (although there are easier ways to go about it).

Use Form 1127 to ask the IRS for more time to pay your tax bill and minimize penalties.

When you can’t afford to pay your back taxes, you have options. The first step is usually filling out Form 433-B.

Here’s how to decide whether to structure your business as a Limited Liability Company or a Subchapter S Corporation.

Learn how depreciation works, and leverage it to increase your small business tax savings—especially when you need them the most.

Make a big purchase for your business? For new equipment, machinery, or other capital assets, you can maximize the deduction this year using the Section 179 deduction.

As an LLC, you get to choose how you're taxed. Here's how that works.

The IRS recently reintroduced Form 1099-NEC, used to report non-employee compensation. Here's how it works.

You might be able to take a big chunk out of your LLC’s federal tax bill by electing to be taxed as a corporation. To do that, you’ll need to file Form 8832.

If you’re a self-employed freelancer, you have to pay your business and self-employment taxes quarterly. Here’s how to start doing that.

The U.S. federal government just passed a $2 trillion relief bill (the CARES Act). Here's how it benefits small businesses.

Learn the basics of FICA taxes so you know who needs to pay them and how much they are.

Just hired your first employee? It probably means you have to start making quarterly state unemployment tax (SUTA) payments to your state. Here's what that means for your business.

Both Pilot and Bench offer bookkeeping services that link your financial accounts and record transactions. How do you decide which is a better fit for your small business?

Journal entries record the day-to-day financial activities of your business. Here's why that matters.

Law firm bookkeeping can be tricky. If you’re not sure where to start, these best practices can help.

Wondering which online bookkeeping service is best for your business? This in-depth comparison of Xendoo and Bench will help you decide!

Do you really need to catch up on old bookkeeping? Or just focus on the future? Here’s your answer.

Adjusting entries keep everything in balance, making sure your expenses and revenue are accurate and up to date.

We break down the ins and outs of a bookkeeper’s role and why a good one is worth their weight in gold.

When you've just started your business, it's simple to keep using personal bank accounts to cover expenses. But there's easy benefits to be had in starting a bank account and keeping your business and personal funds separate.

Historically, minority-owned businesses have had a harder time accessing business loans. These nine loan programs seek to address that disparity.

If you have some extra cash, CDs and savings accounts are safe and reliable options for earning interest on your money. Here’s how to choose between the two.

Loan payments actually have two parts, principal and interest. Here's how that works.

Here’s how to decide whether to structure your business as a sole proprietorship or an LLC—and options if you outgrow either of those entities.

Veterans are, by and large, an entrepreneurial group. Here are the top 8 grants, training programs, and funding resources for veterans looking to start or grow a business.

Cash is king. Here's how to make sure you have enough of it next month (and the month after that).

If you’re a woman and own a business, you might be eligible for the following small business grants.

Categorizing your expenses correctly will make everything easier, from filing your taxes to developing your budget. Learn more and download our free expense tracker.

When you learn how to do a basic cash flow analysis, you’ll feel more confident about making business decisions.

Do your customers use the terms "quote" and "estimate" interchangeably?

If you got your PPP loan before June 5, you can choose between an 8-week or 24-week forgiveness period. Here's how to decide which one to go for.

Got employees? Then you need to run payroll. Here’s what that means.

Protecting your SUI rate is a surefire way to save your business money right now, and as you grow.

This is our complete guide to independent contractor status: how to become one, how it’s different than being an employee, and how your finances work when you become one.