Recent Articles

Personal Property Tax

A tax on personal or business property assessed annually and collected by the Commissioner of the Revenue. Each locality uses its own reporting format in determining the amount of tax due.

Bookkeeping – Other Taxes (Lesson 59)

06/25/2017

There are several more taxes that small businesses must adhere to each year.   This lesson explains these other taxes including: * Real Estate Taxes * Business Property Tax * State Franchise Tax * State Licenses or Fees * Unique Production or [...]

Cost per Mile – The Basic Formula

03/17/2014

In any industry, especially transportation, it is essential for the owner of a business to understand how much it costs per mile to operate his vehicle, trucks or fleet.  The formula looks simple and in reality it is; but you must understand the [...]

What is an Audit?

03/07/2013

An audit is defined as a methodical examination.  Audits are grouped into two principal sets – financial and organizational compliance (usually related to licensure).  For the small business entrepreneur, it is almost unheard of for them to have [...]

Local Revenue Tax – The Business License

12/04/2012

A business license is the tool used by local governments to monitor all businesses in their community.  It triggers at least two types of tax.  At a minimum a revenue and personal property tax is charged through this registration process. [...]