However, many sole proprietors end up turning their businesses into LLCs later on when they’re ready to scale up. Because sole proprietorships are linked to the owner as an individual, all taxes are considered a pass-t

Inflation might have been 3% for the year, knocking his real rate of return down to 9%. And since he sold his stock at a profit, he will have to pay taxes on those profits, taking another, say 2%, off his return, for an

For example, if the meters are read on the last day of the month then the utility bills received in early July will tell you the cost of the utilities used during the month of June. It is this cost that your company sho

Now that you have a better understanding of bookkeeping, you may be wondering if it’s something you want to take on yourself or with the help of a professional. When making this decision, there are two things you sho