Key Takeaways 1 Profit margin is the share of your sales that you keep as profit. 2 Gross, operating and net margins each count a different set of costs. 3 Profit Margin = (Profit ÷ Net Sales Revenue) × 100. 4 What counts as a good margin changes with your industry and how you run […]
Key Takeaways 1 Find out exactly what went wrong and confirm the correct amounts before you touch anything. 2 Fix your payroll records first, then file the correction. 3 Use Form 941-X (or the matching adjusted return) to correct what you filed with the IRS. 4 If an employee’s W-2 was wrong, send them a […]
Key Takeaways 1 Record all cash received and paid by the business. 2 Sort transactions into operating, investing, and financing activities. 3 Calculate the net change in cash for the period. 4 Check that the closing balance matches your records. 5 Review cash flow regularly to plan expenses and avoid shortages. A business can report […]
Key Takeaways 1 Most states require LLCs and corporations to have a registered agent. 2 A registered agent receives legal papers and state notices for your business. 3 You can act as your own agent or hire a service. 4 A professional service may help keep your home address private. 5 Your agent must meet […]