article thumbnail

How Do I Pay Myself and My Taxes as an S-Corporation?

xendoo

Under other business structures, you simply take a share of company profit as your payment. For example, if your business produced $100,000 in profit, you could take a reasonable salary of $40,000, and the remaining $60,000 as a distribution. Payments to non-shareholder employees. Salary , your wages or reasonable compensation.

Tax 96
article thumbnail

8 Benefits of Online Bookkeeping

xendoo

When you first started your company, it might have made sense to try to handle your own bookkeeping and accounting needs. Why not rely on an online accounting service to take these tasks off your plate so you can focus on your business? This is happening for good reasons, as online bookkeeping offers a host of benefits.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Learn When Your Should Outsource Your Accounting

xendoo

Outsource accounting services can help you stay up-to-date on your books, compliant with regulations, and firmly in control of your company’s financial future. With that in mind, here are some of the reasons why you should consider partnering with an online accounting firm. Forensic accounting. Managerial accounting.

Account 98
article thumbnail

Business Budgeting Software Guide: Budgeting Software for Small to Enterprise Business

Snyder

Profit margin analysis. Understanding your gross profit margin is essential when creating your budget. To calculate your gross profit margin, you need to subtract the cost of goods sold (COGS) from the net sales (which is gross revenues minus returns, allowances, and discounts) and divide the result by the net sales.

article thumbnail

Best business banks of 2023

xendoo

Business bank accounts have different terms and benefits than personal accounts. As an online accounting service , Xendoo works with many companies and business banking services. Pros Cons Physical locations in over 40 states High monthly fees and other costs You can open an account online No free checking accounts 2.

article thumbnail

Best business banks of 2023

xendoo

Business bank accounts have different terms and benefits than personal accounts. As an online accounting service , Xendoo works with many companies and business banking services. Pros Cons Physical locations in over 40 states High monthly fees and other costs You can open an account online No free checking accounts 2.