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What Are Current Assets: Formula & How to Calculate

Current assets are balance sheet assets that can be converted to cash within one year or less. Accounts that are considered current assets ...

Home Office Tax Deduction: What it is, Formula, & How to Qualify

If you are a sole proprietor or single-member LLC and use your home as your office, you could qualify for a home office tax deduction. For ...

5 Best Mileage Tracker Apps For Small Business 2018

Mileage tracker apps help “road warriors” like freelancers, real estate agents and sales reps track mileage and expenses for tax purposes o...

W-2 vs W-4: What’s the Difference & When to Use Them 2018

A W-4 is an IRS form that an employer uses to gather tax withholding information for an employee. A W-2 is a year-end tax document that’s r...

Employer Identification Number (EIN): What It Is & Where To Get One

An Employer Identification Number (EIN) is a unique nine-digit number that identifies your small business when you file taxes, open a busin...

IRS Form 8832 Instructions & FAQs

Form 8832 is the IRS form that a Limited Liability Company (LLC) must submit to be taxed as a C Corporation. If you have an LLC and are cur...

What is a Profit and Loss Statement & Why Is It Important?

A profit and loss statement, otherwise known as a P&L or income statement, is a document that measures and reports a company’s expenses...

How to Set Up & Track Inventory In QuickBooks Online

Whether you purchase items that you resell to your customers or make the products that you sell to customers, you should always know what y...