Published on Mar 7, 2022 by

What is the Gross Margin Formula?

Gross profit is the money a business has remaining after it has paid off the direct costs of manufacturing a product or service. Calculating the gross profit margin is done[...]

Published on Feb 24, 2022 by

Gross Profit – What it is and How...

In accounting terms, when we talk about gross profit, we are referring to the income that a business has left over after paying all the direct costs related to manufacture[...]

Published on Feb 7, 2022 by

A Step-by-Step Guide to Calculate Withholding Tax

Every small business with employees needs to calculate withholding tax so that they can deduct the correct amount from each employee’s paycheck to cover their tax obligations as defined by[...]

Published on Nov 17, 2021 by

Calculating Net Sales

Once you’ve accounted for all returns, sales discounts and allowances, what remains of your gross sales figure is your net sales. A business with gross sales of $50,000, discounts of[...]

Published on Apr 18, 2021 by

Earning Money Without Paying Taxes

If you earn below a certain threshold each year, it’s possible that you won’t have to pay federal income tax. The exact amount you can earn before paying taxes depends[...]