Category: Bookkeeping

What Is FICA? Is It The Same As Social Security?

Short for the Federal Insurance Contributions Act, this 15.3% tax (for most workers) is paid half by you, and half by your employer. Started during the Great Depression, the FICA tax is used to fund key parts of the government’s social safety net, namely Social Security and Medicare. Though they pay more than wage earners, […]

How to Invest in Small Businesses Investment Opportunities

If you desire to live better now and give up more wealth in the future, taking dividends can be a rational course of action. If you would rather be richer in the future and are willing to risk additional capital in that pursuit, reinvesting dividends can be a more intelligent strategy. In any event, when you move […]

6 Ways Accountants Help Business Owners Make Smarter Business Decisions

They analyze the company’s financial situation, industry trends, and market conditions to develop comprehensive financial plans that drive growth and sustainability. In an ever-changing business environment, the ability to accurately forecast future financial performance is essential. Accountants employ advanced techniques to project financial outcomes based on various scenarios. They analyze historical data, market trends, and […]

Manufacturing Overhead Formula, Examples, And More

Your direct labor costs from machine operators and assembly line staff are already included in your cost of goods sold. Manufacturing overhead is an essential part of running a manufacturing unit. Tracking these costs and sticking to a proper budget can help you to determine just how efficiently your business is performing and help you […]

Bookkeeping 101: Bookkeeping Basics for Small Businesses

Because bookkeeping is based on double-entry accounting, each transaction affects two accounts — one gets debited and the other is credited. Bookkeeping is the process of keeping track of a business’s financial transactions. These services include recording what money comes into and flows out of a business, such as payments from customers and payments made […]