Accounting Tips, Training, and News | Business Thu, 11 May 2023 20:47:48 +0000 en-US hourly 1 https://wordpress.org/?v=6.2 https://www.patriotsoftware.com/wp-content/uploads/2020/01/cropped-site-favicon-32x32.png Accounting Tips, Training, and News | Business 32 32 Resilience During a Recession: Strategies for Business Survival  https://www.patriotsoftware.com/blog/accounting/recession-how-to-survive-business/ Tue, 09 May 2023 19:24:50 +0000 https://www.patriotsoftware.com/?p=62611 alt=""For months, the looming recession has been on everyone’s mind. In October 2022, 91% of CEOs said one would occur within the year. And in December 2022, Forbes found that large tech companies, banks, and manufacturers had laid off nearly 125,000 employees to prepare. With the March 2023 Silicon Valley Bank collapse, concerns of a […]]]> Check Your Financial Records With a Trial Balance  https://www.patriotsoftware.com/blog/accounting/what-is-trial-balance-adjusted-how-prepare-purpose/ Mon, 17 Apr 2023 18:23:00 +0000 https://pslohio.wpengine.com/uncategorized/what-is-trial-balance-adjusted-how-prepare-purpose/ alt=""Are you an accounting wizard? Maybe, maybe not. Regardless, your math needs to add up. And sometimes, even the greatest mathematicians make mistakes. If you make an accounting error, you must find it—before it harms your business. That’s where a trial balance comes in. An accounting trial balance is for businesses that use accrual accounting. […]]]> The Best State to Start a Business [According to Research]  https://www.patriotsoftware.com/blog/accounting/best-states-to-start-business/ Fri, 31 Mar 2023 14:55:00 +0000 https://pslohio.wpengine.com/uncategorized/best-states-to-start-business/ alt=""Ah, location, location, location. Choosing where to open up shop is one of the first and most important decisions you’ll make when starting a business. But, location isn’t just about picking a building on a popular street corner. It’s also about selecting a state to do business in—the best state to start a business. So, […]]]> How to Fill Out Form 1120: A Guide for Corporations https://www.patriotsoftware.com/blog/accounting/how-to-fill-out-form-1120/ Thu, 23 Mar 2023 17:57:29 +0000 https://www.patriotsoftware.com/?p=62095 alt=""According to the Small Business Administration, 81.2% of large employers and 24.8% of small employers are corporations. Structuring your business as a corporation comes with benefits like limited liability and increased access to capital. It also comes with its own unique small business tax return—Form 1120. Do you know how to fill out Form 1120? […]]]> “SOS! Do I Need to Prepare a 1099 for Credit Card Payments I Make to Contractors?” https://www.patriotsoftware.com/blog/accounting/1099-for-credit-card-payment/ Thu, 23 Mar 2023 14:04:00 +0000 https://www.patriotsoftware.com/?p=52882 Paying a contractor to perform work for your business comes with a little disclaimer: reporting said payments on Form 1099-NEC. But what if you pay your contractor using a credit card? Do you have to prepare a 1099 for credit card payments? If you’re not sure what your responsibilities are for making electronic payments to […]]]> Where Fine Dining Meets the Open Road: How to Run a Food Truck https://www.patriotsoftware.com/blog/accounting/how-to-run-a-food-truck/ Thu, 02 Mar 2023 14:56:06 +0000 https://www.patriotsoftware.com/?p=61928 alt=""Chances are you’ve eaten at a food truck before. A food truck is a mobile restaurant, often selling food at designated areas, street corners, or festivals and special events. Food trucks may be a great way to turn your dream of owning a restaurant into a reality. If you’re considering running a food truck, you’re […]]]> Health Insurance Tax Credits for Small Business Owners https://www.patriotsoftware.com/blog/accounting/health-insurance-tax-credit-advanced-premium/ Mon, 27 Feb 2023 15:40:00 +0000 https://pslohio.wpengine.com/uncategorized/health-insurance-tax-credit-advanced-premium/ Do you have a small business as defined by the Affordable Care Act (ACA)? Do you offer health insurance to your employees? If so, you might be eligible for health insurance tax credits for the coverage you provide your employees. And, you may qualify for write-offs if you’re self-employed. Keep reading to find out if […]]]> Should You Lease or Buy a Car for Business? Here’s What You Need to Know (+ Charts) https://www.patriotsoftware.com/blog/accounting/lease-or-buy-car-for-business/ Fri, 24 Feb 2023 17:01:08 +0000 https://www.patriotsoftware.com/?p=61767 alt=""Whether it’s your first day in business or your 10-year anniversary, it may be time to get a business vehicle. A business car can make running your company easier than ever—from errands to deliveries. So, if you’re wondering, “Should I lease or buy car for business?” We’ve got you covered. Read on to learn what’s […]]]> Leasing a Commercial Space? Here’s What to Know https://www.patriotsoftware.com/blog/accounting/leasing-commercial-space/ Tue, 21 Feb 2023 17:31:24 +0000 https://www.patriotsoftware.com/?p=61606 alt=""Maybe you started out running your business from your home or garage. Or, maybe you’re getting ready to launch a new business. Whatever the case may be, there might come a time when you need to rent an office, retail space, or warehouse. And if you do, you need to know the ins and outs […]]]> 5 Tips for Funding a Startup Without Any Investors https://www.patriotsoftware.com/blog/accounting/funding-startup-without-investors/ Fri, 17 Feb 2023 16:11:16 +0000 https://www.patriotsoftware.com/?p=61593 alt=""Do you need investors to start a business? During the early stages of your startup, you may struggle to attract venture capitalists and angel investors. While working with investors provides a fast and sustainable way to raise money and scale your business, there are other available routes. The first funding strategy you can consider is […]]]>