A Small Business Guide to Accumulated Depreciation
Accumulated depreciation is the total recorded depreciation since an asset was placed in service. Learn how to calculate and record it in your balance sheet.
6 Accounting Concepts E-Commerce Business Owners Need to Know
Setting up an e-commerce accounting system can be a stressful part of opening a new business. Here are six accounting concepts you need to know to run a business.
A Small Business Guide to Bonus Depreciation
Bonus depreciation allows you to report a chunk of depreciation in the year an asset was purchased. Learn how to claim your bonus depreciation in five steps.
Gross Profit vs. Net Profit: What’s the Difference?
Gross profit and net profit are two terms businesses use to determine the bottom line. Here we look at the differences between them and how to calculate each.
How to Create a Financial Forecast
Financial forecasting allows you to predict your company's future performance based on certain assumptions. Learn how to create a forecast for your business.
How to Fill Out (and File) Schedule C for Form 1040
Sole proprietorships and single-member LLCs file Schedule C to report business net profit or loss. Follow these 9 steps to filling out and filing Schedule C.
A Small Business Guide to Inventory
Managing your inventory is essential to keep up with the consumer demand for your product. Here we outline the benefits of successfully managing your inventory.
How to Make a Depreciation Schedule: A Small Business Guide
Depreciation schedules detail how a fixed asset’s costs are expensed over the life of the asset. Learn how to set up a depreciation schedule for your business.
How to Use Unit Contribution Margin to Help Make Business Decisions
Unit contribution margin measures the profitability of manufactured goods and is used to make production decisions. Here's how to calculate it plus see examples.
A Guide to Tax-Advantaged S Corp Health Insurance Deductions
S corporations can offer health insurance premium coverage for non-owner employees. Learn to achieve the maximum tax advantage for S corp health insurance.
FICA Taxes: What You Should Know
FICA taxes consist of Medicare and Social Security payroll taxes, which fund retirement benefits. Learn how to calculate it and how much should be withheld.
A Beginner’s Guide to Independent Contractor Taxes
An independent contractor is a one-person business that provides goods and services to clients for a fee. Learn how to pay taxes as one in just five steps.
A Beginner's Guide to Minimum Wage by State
The federal government and most states have passed minimum wage laws to protect workers from unfair compensation. Here's the minimum wage rate for each state.
How to Calculate Total Manufacturing Cost
Total manufacturing cost is what a company spent to produce its inventory within a given period. Learn how to calculate it and optimize the manufacturing process.
7 Steps to Small Business Payroll in Canada
Do you have a business in Canada? There are a few things you should know before setting up payroll. Learn how to do your small business payroll in seven steps.
6 Steps to Filing Form 1120
If you have a C corporation, you'll need to use Form 1120 to file your business taxes. Here's a tax preparation checklist that will guide you during tax time.
Best Practices for Small Business Record-Keeping
An effective record-keeping system can streamline your tax preparation and financial audits. Here are five record-keeping tips that will simplify bookkeeping.
How to Use Cost Flow Assumptions in Your Business
Cost flow assumption determines the order in which FIFO, LIFO, and weighted average costs flow out of a balance sheet account. Here's how it works.
How to Use Variable Pay in Your Small Business
Variable pay is an incentive employers can pay to employees when their performance meets or exceeds expectations. Here's how to implement it in four steps.
A Small Business Guide to Pass-Through Entity Types
A pass-through entity allows the owner to pay taxes as an individual instead of paying corporate taxes. Here's how to decide if it's the right option for you.
What Is IRS Form W-3? How to Fill It Out and File It
IRS Form W-3 tracks your employee's wages, salary, commission, tips, and other compensation. Here we show how to fill it out and how to file it with the SSA.
Employee Mileage Reimbursement: What You Need to Know
If your employees are using their personal vehicles for work, you should reimburse them accordingly. Here's how to quickly calculate mileage reimbursement.
Employees on Jury Duty: What You Need to Know
If your employee gets summoned for jury duty, are you responsible for paying them while they serve? Find out which states require employers to pay for jury duty.
10 Steps for Doing Payroll Manually
For businesses with just a few employees, it might make sense to do payroll manually. We show you how to manually calculate payroll for your small business.
How to Calculate Shift Differentials
Picking up shifts at irregular times of the day incentivizes employees to earn shift differential pay. Here we discuss how to calculate shift differential pay.
What Are Gross Wages? A Small Business Guide
Gross wages include any cash compensation, tips, or fringe benefits received. Here's an introduction to gross wages and how to calculate them for tax purposes.
EIN vs. SSN: What’s the Difference?
The IRS uses Social Security numbers and EINs to identify individuals and businesses for tax purposes. This guide explains the differences between EINs and SSNs.
How to Manage Payroll: 9 Steps for Your Small Business
If you're looking to do payroll more efficiently, consider an organized payroll management system. Here are the best payroll management tools for your business.
10 Tax Credits for Your Small Business
Tax credits are an effective way to reduce your small business tax liability. The Blueprint explores 10 small business tax credits business owners can use.
How to Use Responsibility Accounting in Your Small Business
Responsibility accounting develops clear expectations for your business and its employees. The Blueprint covers the benefits of responsibility accounting.
5 Employer Payroll Taxes and How to Calculate Them
Both employers and employees pay payroll taxes, but which taxes are you responsible for? Here are the most common payroll taxes employers and employees pay.
How to Calculate Time and a Half
If your employees work more than 40 hours per week, the overtime pay rate is required. Here's how to calculate time and a half for your employees.
How to Calculate and Pay State Unemployment Tax (SUTA)
The unemployment benefits program starts when an employee gets laid off or let go. Here's how to pay state unemployment taxes for your small business.
Period Costs: What Small Businesses Need to Know
Period costs are indirect costs such as your selling, administrative, and depreciation expenses. Here's how to calculate period costs for your small business.
Balance Sheet vs. Income Statement: What’s the Difference?
The balance sheet and income statement highlight various aspects of your business’s financial health. The Blueprint explains the difference between the two.
How Your Small Business LLC Can Be Taxed
Starting your business as a limited liability company (LLC) offers certain legal and financial protections. The Blueprint explains how LLCs are taxed.
How to Calculate the Federal Unemployment Tax (FUTA)
Businesses contribute to federal unemployment through a payroll tax that is deducted from employee's check. The Blueprint shows how to calculate FUTA Tax.
A Small Business Guide to Using Pay Stubs
Pay stubs show how employee paychecks are calculated and list deductions line by line. The Blueprint covers how to create pay stubs for your employees.
How Net Operating Loss Affects Your Business
A business incurs a net operating loss (NOL) when expenses exceed revenues. The Blueprint goes through how to calculate NOL and turn it into a tax deduction.
A Guide to Small Business Payroll Deductions
Payroll deductions are costs that employers deduct from their employees' paychecks. The Blueprint discusses the types of payroll deductions for your business.
3 Ways to Value Any Small Business
Valuing your business determines the financial value to a potential investor. The Blueprint goes through how to value a small business.