Budgeting and Accounting Control
- Business Income Tax Information and Help
- Business Tax Tables
- Business Income Tax Deductions
- What is a Business Budget?
Business Income Tax Information and Help
Here is resource information for doing your income taxes. Even if you have an accountant or another financial professional do your taxes, you have to produce the information that allows the financial professional to put it all together.
- Filing Deadlines for Your 2009 Quarterly Taxes
- What Tax Return Form do I File for my Business?
- Business Corporate Tax Rates
- Changes in Withholding Taxes for 2009 and 2010
- Employer Social Security Contribution for 2009
- Unemployment Benefits Exclusion for 2009
- Changes in Income Taxes for 2009
- Forms of Business Organizations for Tax Purposes
- Limited Liability Companies
- Save on Your Taxes by Understanding Deductible Expenses
- Should you Expense or Depreciate Items on Your Taxes?
- Get Your Employer Tax ID Number From the IRS
- New Penalty for not Filing Your Taxes on Time - Including Extensions
- 10 Tips for Income Tax Planning for your Small Business
- How to Prepare and File an Amended Tax Return
- How to Prevent the IRS from Auditing your Small Business
Business Tax Tables
Tax tables and information for different forms of business organizations
- Forms of Business Organization for Tax Purposes
- Corporate Tax Rates for 2008
- Corporate Tax Rates for 2011
Business Income Tax Deductions
Small businesses can substantially offset their income if they know the deductions they can take. So many expenses that businesses make during the tax year are deductible, but you have to know what they are, have documentation, and know where and how to deduct them. Here is a guide to Business Income Tax Deductions from A to Z!
- Bad Debts
- Banking Service Charges
- Cash for Clunkers Tax Deduction
- Conferences and Business Meetings
- Gifts to Business Customers
- Gifts to Business Employees
- Home Office Deduction
- Mileage Expense Deductions for 2009
- Travel, Meal, and Entertainment Expenses
- Deduct your Business Expenses
What is a Business Budget?
Business budgets allow you to control the financial flows, or cash flows, in your business instead of allowing your business to control you. If you are going to make a profit, you have to design a system to allow that to happen. That system must operate within a system of financial controls so that your goals are reached. You set up performance standards in order to communicate to yourself and employees what is expected in order to meet your profit goals. The performance standards are the building blocks of your business budget. The budget is a detailed statement of financial results expected for a future time period.
- Prepare a Working Financial Budget for Business Success
- Use this Business Budget Worksheet to Plan Your Budget
- The Reasons for Business Budgets
- Make Your Business Budget Work
- Budgeting Tips for Tough Economic Times
- Frugal Ideas for Your Small Business During the Recession - and After!
Types of Business Budgets
The overall business budget is, of course, the financial budget. But, there are several parts to the financial budget. There is the capital budget which deals with the large expenditures a business makes, such as purchases of buildings or land. There is the operating budget which deals with profit plans for the budget period. There is the cash budget which is a forecast of expected cash inflows and outflows on a month by month basis for the small business. All of these budgets include short-term versions and long-term versions.
- How to do a Cash Flow Budget
- Example: How to do a Schedule of Cash Receipts
- Example: Blank Worksheet for Schedule of Cash Receipts
- Cash Budgeting and How to use it
- Cost-Effective Marketing Budgets
Managing Your Cash
After you get your business off the ground and develop your budget, nothing is more important than managing your cash. If you don't have liquid assets, or cash, at the end of every month, you won't operate the next month. You may need cash to pay suppliers or any other number of reasons. The best way to keep track of your cash is regular preparation of a cash budget. When you prepare your financial statements, you also have to prepare a Statement of Cash Flows. Both give you invaluable information.
- Managing Your Cash Flow through Good Financial Liquidity Practices
- Cash Management is Important for Your Small Business
- Cash Flow - Comprehensive Definition of the term "Cash Flow"
- How to Bootstrap Your New Business
- How to Increase Your Cash Flow
- Maintain a Healthy Cash Flow
- Cash Budget vs Statement of Cash Flows - What's the Difference
- The Difference Between Cash Flow and Profit and Why It's Important
Inventory is one of the most important and one of the most problematic assets for a small business owner to manage. There are issues of how much to invest in inventory, how to account for it, how to track it, how to price it, and more.
- Inventory Investment
- LIFO and FIFO Inventory Accounting Methods
- How Retail Firms can Increase Their Sales Through Controlling Their Inventory
Cost-Volume-Profit analysis is a type of cost accounting that is important for small business owners. It allows the small business owner to determine how changes in volume and costs affect the company's operating income and net income. It is a powerful tool for good financial management.