Preparing for Tax Returns: A Guide to Expenses and Bookkeeping for Hairdressers

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As GOP legislators passed the biggest tax reform bill since 1986, Bookkeeping Chef can give you a complete view of your business’ total tax liability. This includes how the broader…

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opportunity cost Marginal Cost, Scarcity & Trade-Offs Definition

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Here’s how opportunity cost works in investing, plus the differences between opportunity cost, risk and sunk costs. The investment information provided in this table is for informational and general educational…

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What is payroll? Tips for small business owners to know in 2023

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However, software programs can be time-consuming, which can pose a problem for small companies with few staff. Even if you use payroll software, don't assume that everything is running automatically…

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Opportunity Cost

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Another important example of opportunity cost related to personal finance arises whenever you get a paycheck. Many people deposit their paycheck directly into a checking account, where it essentially sits stagnant.…

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What is Net Book Value NBV? Definition Meaning Example

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Net book value is calculated as the original cost of an asset, minus any accumulated depreciation, accumulated depletion, accumulated amortization, and accumulated impairment. Given these deductions, net book value represents an…

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9 Benefits of Hiring a CPA for Your Business doola: Start your dream US business and keep it 100% compliant

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If you’ve built a small business from the ground up, you probably know your industry, customers, and products or services like the back of your hand. When it comes to…

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What Is Deferred Revenue? Definition, Journal Entry & Example

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You’ll provide the consulting services each month without receiving payment, and you’ll record this as accrued revenue. When you finally get paid, the accrued revenue is recognized as received revenue.…

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