How to avoid paying taxes as an independent contractor (legally)
If it was possible to call up the Internal Revenue Service (IRS) office for a discount on tax payments, their phones would probably ring all day. But it’s not, so [...]
A Complete Guide to LLC Accounting
Every year, more and more small business owners structure their companies as a limited liability company (LLC). In fact, the number of registered LLCs has grown every year since 2004, [...]
How to find and calculate retained earnings
Whatever your reason for starting a business, there’s one thing that’s certain—you want to succeed. But Fundera reports that “about 20% of small businesses fail in their first year,” and [...]
13 Bookkeeper Software Features Your Small Business Needs
You want to take care of your business's bookkeeping yourself. That's great! You're not the only one: over 64% of small business owners turn to bookkeeper software. But with so [...]
What does Net 30 Mean? A payment terms guide for small businesses
If you’re a business owner waiting on payments, you’re not alone. According to a 2021 Melio survey, over 50% of entrepreneurs have gotten paid late before. With bills to pay [...]
What Is the Net Cash Flow Formula? (+ an Example of How It Works)
How do you know if your small business is financially healthy? One clear sign is it's making more money than it's spending. This accounting metric is most commonly referred to [...]
Bookkeeping for Freelancers: A 2022 Guide
The term “freelancer” was originally used to describe a medieval mercenary whose lance wasn’t sworn to the service of one lord. And while they’re no longer hired assassins, freelancers are [...]
11 Accounting Formulas Small Business Owners Need to Know
If you’re a small business owner who likes to do their own bookkeeping, you’re not alone. According to a recent report by Clutch, a majority of small businesses (62%) prefer [...]
How to File Independent Contractor Taxes 2022
Disclaimer: This blog post is intended to provide generalized information designed to educate a broad segment of the public. It’s not personalized tax, investment, legal, or other business or professional [...]
Independent Contractor Expenses Spreadsheet: Everything You Need to Know (Plus: Free Template)
Have you ever struggled to manage your financials as an independent contractor? If the answer is yes, you’re not alone. According to Freelancer Map's 2021 study, 25% of freelancers consider [...]