If you’ve read our general article on taxes, you know that a business has to deal with a lot of different types of taxes. One of these taxes is the sales or use tax (and their international equivalent—the VAT). These taxes come into play when you sell goods and, sometimes,… Read More »A Small Business’s Guide to Collecting Sales Tax, Use Tax, and VAT
In our last article, we talked about how small businesses must pay quarterly estimated income taxes. Then, at the end of the year, the business totals up its actual revenue and expenses and then calculates its true taxes based on actual income. You get the revenue and expenses numbers from… Read More »Income Tax Software for Small Businesses
Businesses have to pay income taxes. We touched on this briefly in our overview article on the types of taxes businesses have to pay. But, in the US, you have to pay your business’s income taxes in four quarterly payments. You can’t wait until the end of the year, figure… Read More »How to Calculate Quarterly Estimated Taxes, for Small Businesses
Businesses, like people, have to pay taxes. But, unlike people, most businesses have to pay a lot more types of taxes. Keeping track of and paying these taxes on time can get pretty complicated, pretty fast. This is why we wrote this tax guide for small businesses. In this series… Read More »Tax Guide for Small Businesses
Things don’t always work out. And this is true, too, where it comes to employees. Sometimes, it’s because the person you hired can’t or won’t do the job you need them to do. Other times, it’s you: you didn’t scope the job out correctly, so you hired a wrong set… Read More »How to Let an Employee Go, for Small Businesses
In the US, there are a lot of laws about how businesses should treat their employees. These employment rules and regulations apply to different sized businesses in different ways. Larger businesses can afford to hire lawyers to help them comply with these laws. But, as a small business, you don’t… Read More »US Employment Rules and Regulations: A Guide for Very Small Businesses
When you start a business, you hope the business grows. But, sometimes, it grows and then it shrinks. You have to let employees go even though they didn’t do anything wrong. This is where unemployment insurance comes in. The employees can get a payout from the state government to tide… Read More »How Unemployment Insurance Works, for Small Businesses
Most workers in the US know that if you work overtime, you get paid 1.5 times your normal wage. And most workers don’t mind making a little extra money from time to time. But businesses like to have steady, predictable expenditures. Having to pay overtime wages tend to make payroll… Read More »How to Calculate Overtime Pay, for Small Businesses
Supply and demand. It’s basic capitalism. And this concept applies to the labor market too. As a business, when you need help but there aren’t a lot of applicants, you raise wages to get or keep your workers. You typically pay a lot more than the minimum wage. But if… Read More »Understanding Minimum Wage Calculations
Having employees can get expensive. You have to pay all sorts of extra taxes and insurance. We covered the nitty gritty of these extra costs in our how to hire employees article. Independent contractors, on the other hand, are easy. You just pay them for the job. So why don’t… Read More »Contractor vs. Employee: An Explainer for Small Businesses
