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In many states, wholesalers or manufacturers will not sell to you at wholesale prices unless you can show them your sales tax permit or number, also called a sellers permit. Some things that may increase the odds that your return will be audited include making large payments to family members you claim are employees, excessive losses from a business and excessive business expenses.
Published by Levy Dalumpines 82 months ago in Managing A Home Business | +3 votes | 1 comments
If you enjoy meeting people and love to take self-catering holidays yourself, you may decide that starting and running your own holiday cottage business is the right move for you.
Published by Alison Birkett 82 months ago in Managing A Home Business | +2 votes | 1 comments
The services of an attorney and consultant are vital during specific periods in the development of your business or in times of trouble, but your accountant will have the greatest impact on the success or failure of your business.
Published by Levy Dalumpines 82 months ago in Managing A Home Business | +3 votes | 3 comments
Numerous records need to be retained for tax and legal purposes. Retain all receipts for the petty cash fund. Keep all paid utility bills and suppliers' bills. Retain all bank papers such as canceled checks and duplicate deposit slips. Among your shipping documents, you should keep receiving reports, purchase invoices, and customer invoices.
Published by Levy Dalumpines 82 months ago in Managing A Home Business | +1 votes | 0 comments
Even though your new home-based may not be pulling in giant sums of money, you still need a business bank account. You may be happy with the bank where you have your personal accounts, but that doesn't mean you should open your business account there.
Published by Levy Dalumpines 83 months ago in Managing A Home Business | +2 votes | 1 comments
The break-even analysis is important when you are in the planning stages of your business start-up. It is an essential piece of information which, in its most powerful application, provides quantitative support for your business plan.
Published by Levy Dalumpines 83 months ago in Managing A Home Business | +3 votes | 1 comments
Making money is what being in business is all about. Fortunately, there are several measures you can apply to help you determine the profitability of your home-based business once you are under way. These measures are: asset earning power, return on owner's equity, net profit on sales, investment turnover, and return on investment (ROI).
Published by Levy Dalumpines 83 months ago in Managing A Home Business | +1 votes | 0 comments
Ratio analyses determine the stability of various financial aspects of your home-based operation, enabling you to gauge your business' financial weaknesses and strengths. Ratio analyses also let you compare your company's performance to similar businesses in your industry.
Published by Levy Dalumpines 83 months ago in Managing A Home Business | +1 votes | 0 comments
The goal in pricing a service is to mark up the labor and material costs sufficiently to cover overhead expenses and generate sufficient profit. First-time business owners often fail without realizing that they have priced their services too low.
Published by Levy Dalumpines 83 months ago in Managing A Home Business | +3 votes | 0 comments
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