Jena Kosinski

Businesses that contract out work in New York have a new law to put on their radar: The New York independent contractor law. But, what is the new law? What businesses are impacted by the new law, and how? Keep reading to get the scoop on the New York independent contractor law.

Keeping your books in order throughout the year is important. So, you track every item, line by line. And, you record every transaction. But, what is transaction in accounting? What, specifically, do you need to track and record?

Although you may have a minority-owned business, you must meet specific criteria for formal recognition as a minority business enterprise (MBE). And if you meet the criteria, there are business benefits to receiving an MBE certificate.

Running a business means spending money. And, starting a business means spending money before you begin earning money. That’s where the saying, “You have to spend money to make money,” comes from, after all. The idea of spending money to earn money comes into play with sunk costs. So, what is a sunk cost?

Just about everything you do in your business comes with a cost. Whether it’s time, money, effort, or something else, you pay a price. But, what happens when you set a limit for production and have to produce more than your set limit? You encounter what’s known as marginal cost. What is marginal cost?

If you have more money at the end of the year than you expected, you might think you have a budget surplus. But, is that what a budget surplus actually is? Keep reading to find out what is a budget surplus, the budget surplus definition, and more.

Accounting can be a daunting task when starting out, especially if you’re not an accountant. And depending on your business, how you must handle accounting can change. So, what are the accounting methods, and how do you choose which method to use for your business’s bookkeeping?