As a small business owner, taking the time to set up your QuickBooks account correctly is an important effort.

While the accounting that determines if a given transaction should appear as an expense, income, or another entry can be complex, the math needed to read the income statement is simple addition ...

1. Disclose the amounts of (a) purchases of inventory; (b) employee compensation; (c) depreciation; (d) intangible asset amortization; and (e) depreciation, depletion, and amortization recognized as ...

Accounts payable include trade payables, which are debts owed to companies for inventory-related goods, and expense payables, which are debts owed for goods and services that are purchased and ...

Do I have to pay taxes on a side hustle? The IRS states that if you make $400 or more in net income from a side hustle, you must file a tax return, regardless of whether or not you received a 1099 ...

Once you've determined your net income and factored in your expenses, look at any money left over. This money can be used for non-essential purposes, like going out to eat or entertainment.