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Business Accounting

How Long Should You Keep Business Records?

Often swamped with paperwork, many entrepreneurs wonder how long you should keep business records.

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Which Type of Business Entity Needs an Employer Identification Number (EIN)?

The purpose of an employer identification number (EIN), also known as a taxpayer i.d. number, or TIN, is to allow the IRS to track wages and other pay...

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Cash vs. Accrual Accounting

The cash method and the accrual method of accounting differ in the timing of when transactions are credited or debited. The accrual method counts inc...

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Bookkeeping and Accounting Basics

Many new business owners are daunted by the mere idea of bookkeeping and accounting. But in reality, both are pretty simple. Keep in mind that bookkee...

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Accounting Terms Every Businessperson Should Know

A big part of understanding the financial side of your business consists of nothing more than learning the language of accounting.

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