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I Screwed Up 2! How to Record a Business Expense Made With a Personal Bank Account (Without Messing Up QuickBooks)
It happens. We all know we shouldn’t pay for business expenses using a personal bank account, but sometimes the wrong card gets used. Maybe the debit cards in…
4 min read
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I Screwed Up! How to Record a Personal Expense (Without Ruining Your Reconciliation)
It happens. You’re rushing through the day, grab your business card, and before you know it, you’ve just paid for a personal expense using the company account. No…
4 min read
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5 Proven Ways to Keep Your Business Financial Records Organized All Year
Organized financial records are not something that comes naturally to most people. For decades, we were taught that a receipt is just a scrap of paper to toss…
4 min read
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Understanding the Marginal Tax Rate: How Tax Brackets Really Work for Small Business Owners
The marginal tax rate is the percentage of tax applied to each portion of your income that falls within a specific tax bracket. In other words, it’s the…
4 min read
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LLC Taxed as a C Corporation: What It Means and When It Makes Sense
In a previous post, we talked about what happens when your LLC is taxed as an S Corporation. But what are the implications when an LLC is taxed…
4 min read
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De Minimis Safe Harbor & Routine Maintenance: How Small Businesses Can Expense Tools, Equipment, and Repairs
When you buy new equipment, it makes sense to capitalize large purchases and take annual depreciation. But is that really necessary for every small tool or repair? Wouldn’t…
4 min read
