Tag: Personal Property Tax
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Bookkeeping – Other Taxes (Lesson 59)
There are several other taxes that small businesses must adhere to each year. Other taxes include: Real Estate Taxes, Business Property Tax, State Franchise Tax, State Licenses or Fees, Unique Production or Consumption Taxes, and Assessments.
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Cost per Mile – The Basic Formula
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 underlying elements to truly appreciate and comprehend the calculation.
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What is an Audit?
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 an organizational compliance audit.
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Local Revenue Tax – The Business License
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.