Understanding what not to do is crucial to avoid an audit. Below, I’ll share several actions LLC business owners make that ...

Check payout. 613 Change Fund – Expense To have cash on-hand for specific event-must be redeposited at end of event 612 Check Advance – Expense Payment by check to vendor in advance – receipt and any ...

(The Conversation) – The Internal Revenue Service hasn’t issued comprehensive guidance on how the estimated 27 million ...

Operating income measures a company’s efficiency and performance and is the profit after operating expenses have been subtracted from gross profit. Before delving further into operating income ...

You will report your income and expenses on Schedule C of Form 1040 if you have business income and are a sole proprietor (i.e., the only owner of an unincorporated business). This can all be ...