Knowing which expenses your LLC can deduct is fundamental to maintaining healthy business finances. Every legitimate business expense you properly document and deduct reduces your taxable income, ...

Simply stated, a balance sheet is a statement of your business' worth: a snapshot of your business position on a given day, usually calculated at the end of the month or quarter. It is a listing of ...

One type of expense and income spreadsheet, the income statement, enables you to easily calculate the sales figures needed to reach a profit objective. Consider a scenario where you want to net $5,000 ...

A balance sheet provides a snapshot of a company's assets, liabilities and equity at a specific point in time, while an income statement summarizes its revenues and expenses over a period to show ...

To stay in business, your company needs to earn more than it spends, at least over the long term. A net income formula tells you whether you are earning or losing money. However, this equation only ...