Accounting, bookkeeping, and tax tips to help you understand your small business finances.
Bookkeeping

Bookkeeping Basics for Small Business Owners: Everything You Need to Start Doing Your Own Bookkeeping

Bookkeeping may not stir excitement deep in your heart, but it also shouldn’t strike fear—this simple guide walks you through all of the basics.

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Small Business Stories

How Bench Helped Gaming Entrepreneur Stephen Works Manage His Multiple Income Streams

Step into the world of Stephen Works, a dynamic gaming entrepreneur mastering the art of juggling multiple income streams with SpringSims, LLC. From his early days sharing his love for the Sims to creating a buzz on Twitch and YouTube, Stephen's journey is a tale of growth, innovation, and smart business strategies. Explore how he skillfully manages his finances using Cloud Inc. and Freshbooks, and gain valuable insights on leveraging video and networking for business success.

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Operations

2024 SBA Loan Forgiveness Deadline Alert: Apply by March 3 for PPP and EIDL Relief

Discover the latest initiatives from the Small Business Administration, offering additional support to PPP and COVID EIDL borrowers.

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Small Business Stories

How to Calculate Net Income (Formula and Examples)

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

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Accounting

Cash Basis Accounting vs. Accrual Accounting

The main difference between cash basis and accrual accounting is the timing of when revenue and expenses are recognized. Which method is best for your business?

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Operations

How Unemployment Benefits Are Calculated By State

Each state treats unemployment differently. Wondering how much you're eligible for? Here's a rundown on all the details of the…

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Tax tips

How to Deduct Repair and Maintenance Expenses: Navigating IRS Safe Harbor Rules

Explore tax saving strategies with our guide on repair and maintenance deductions! Identify eligible expenses, optimize your claims, and elevate your tax savings. Empower yourself with expert advice to navigate tax deductions efficiently.

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Tax tips

Electric Vehicle Tax & IRC 45W Commercial Credits: A Comprehensive Guide for Businesses

Go green, save big! Unlock up to ₹40,000 in tax credits with the Commercial Clean Vehicle Tax Credit. Navigating the rules might seem tricky, but our simple guide breaks down the steps, from picking the right vehicle to maximizing state incentives.

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Tax tips

How To File Schedule C Form 1040

If you're self-employed, you'll need to fill out Schedule C at tax time. Here's a simple guide to doing that.

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Accounting

How to Read the Bench Income Statement From Your Stripe Dashboard

We’ll take you step-by-step through the Bench income statement and how it describes the current financial state of your company.

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Bookkeeping

Xero vs. Bench: A Comparison

This comparison of a popular DIY bookkeeping product and Bench's full- service online solution will help you choose…

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Tax tips

What Happens at the IRS After You File Your Taxes?

Once your tax return has made it from your hands to the hallowed halls of the IRS, all you have to do is wait—for your refund, if you’re owed one, or for any notifications of errors or miscalculations. So what’s happening at the IRS during this time? Let’s take a look at the post-filing journey of your tax return, from the moment you file to when it’s been fully processed.

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