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In finance, solvency is defined as a business’s ability to meet its long-term obligations.  Analysts use a variety of solvency ratios to examine the health of a company, the simplest of which is assets vs liabilities. An insolvent company has more liabilities than assets, and vice versa.  Small business owners are often focused on the...

In simple terms, the difference between gross vs net income is that gross income refers to a business’s total earnings, while net income is left over after subtracting expenses.  However, gross vs net income is slightly different for tax purposes depending on whether you’re an employer or an employee:  Because the law requires employers to...

Whether on an individual level or as a business owner, every living, breathing citizen or resident of the United States of America has some familiarity with federal and state taxes. The mission of the Internal Revenue Service is to "provide America's taxpayers top quality service by helping them understand and meet their tax responsibilities and by applying the tax law with integrity and fairness to all.

Navigating the world of taxes can be overwhelming for small businesses, especially when it comes to understanding which forms to file and the implications of making certain elections. One such tax form, IRS Form 2553, can significantly impact a company’s tax strategy, potentially saving them from double taxation.  In this article, we delve into the...

As a founder, operations or finance manager, you’ll be faced with a myriad of pivotal choices on a daily basis. However, deciding between cash vs. accrual accounting methods is a critical one that will have far-reaching implications. Your choice between accrual vs cash will affect your business in several ways. First, it will demonstrate different...

The entrepreneurs I talk to are, without exception, smart, motivated, energetic people. They are full of ideas for life-changing products and services and plans for the future.