Are These Issues Present in Your Business?
It's the middle of November and tax season is around the corner.... And I know if you're like most business owners taxes are out of site...
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HONEY HIVE BLOG
Information on important topics for small business owners from our bookkeeping experts!
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Tracking Vehicle Expenses
How do you deduct business auto expenses?
Can You Deduct Utilities for Your Home Office?
If you have a home office there are certain expenses that you can and cannot deduct. A home office expense is deductible for a sole...
Depreciation Vs Amortization
If you have done research into business expenses you may have heard about depreciation and amortization, but what are they and how are...
What is an Intangible?
Intangibles are assets in a business that cannot be physically moved or measured, but that are still property of the business. These can...
Long Term Vs Short Term Debt
Have you heard of short term debt and long term debt? They are both debt owed by a company, but their classification is important when...
The Difference Between Gross Profit and Net Income
Gross profit looks at the amount of revenue remaining after direct costs. Net income factors in all costs.
Inspiring Stories: Fireside BBQ
Inspiring Stories: Fireside BBQ
Glenn started his BBQ business with $47. He now uses his business as a way to give back to his community
What are Manufacturing Costs?
Manufacturing costs are divided into manufacturing and non-manufacturing costs which are then further broken down into other categories.
What is an Indirect Cost?
An indirect cost is not caused by a specific cost object.
What is a Direct Cost?
A direct cost can be easily matched with a cost object. A cost object is something that a company is trying to measure costs for.
Classifying Costs
Classifying costs for management decisions is a powerful and under utilized tool.
What is Managerial Accounting?
Managerial accounting involves the utilization of financial information in reports that facilitate the proper management of a company.
What is Financial Accounting?
Financial accounting deals with information provided to people/companies outside of the business.
How to Record Sales Tax
If your sales tax is hitting a revenue or expense account it is being recorded incorrectly.
Tips For Keeping Personal and Business Finances Separate
Need help keeping your business and personal finances separate? Here are a few tips from our experts to make it easier.
Why Do You Need to Separate Personal and Business Finances?
It may be tempting when you own a business to swipe a business card to cover a personal charge, but doing so can create tax and legal issues
Fixed Versus Variable Expenses
Fixed expenses do not fluctuate with production/sales volume whereas variable expenses do.
What Is A KPI?
KPI stands for Key Performance Indicator and they are ratios and calculations used to measure the performance within a business. They can b
Should I Be Collecting Sales Tax?
The ever changing sales tax arena can be intimidating and confusing, but it doesn't have to be. If you're an ecommerce business or really...
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