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, ...

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 ...

Accountants with businesses big and small normally compile financial statements each quarter. The statements paint a picture of all of the company's transactions. First, the company will record the ...

Google Sheets is the best way to track personal finances.