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The list below includes the most common business expense categories that a small business may encounter; it’s not an exhaustive list. In general, you may deduct expenses that are ordinary and necessary for your business. The IRS website defines “ordinary” as something common for your

Voice-over-internet protocol (VoIP) security is critical to safeguarding cloud communications against internet-based threats like call tampering, data breaches, and eavesdropping. To minimize the risks, businesses take simple precautions through regular system updates, strict password policies, and virtual private network (VPN) use. Explore other VoIP security

Gross pay is the amount of money you pay an employee before any deductions are withheld, such as for taxes. It’s the basis for figuring everything from Federal Insurance Contributions Act (FICA) withholdings to overtime wages. Learning how to calculate gross pay is simple; the

A phone tree is a hierarchical diagram that guides incoming callers through a series of menu options, directing them to their desired agent or department. Businesses use it in automated phone systems to handle customer inquiries efficiently based on the caller’s selections. In this article,

Merchant services, also referred to as payment processors, are a necessary but frustrating part of running a business. We list 10 providers that offer fair and transparent pricing

Editorial and Partnership Disclosure SKYPASS Visa Signature® Business Card from U.S. Bank is designed for business owners who travel with Korean Air and any of the SkyTeam partners frequently. It comes with a low annual fee, a $0 foreign transaction fee, and travel perks like

An employment background check is a process for verifying a candidate’s background and qualifications and screening for red flags by checking criminal records, credit reports, driving history, and more, when applicable. Before conducting one, it is important to implement a background check policy to ensure

Buddy Punch is a cloud-based time tracking software that lets you capture employee work hours and manage paid time off (PTO). It’s optimal for small to mid-sized businesses (SMBs) looking for multiple time clock options with flexible punch controls that support facial recognition scans and

An employment probation period, referred to as a probationary or employment training period, is a time frame used to determine if the new hire is the right fit for the position and the company is right for the employee. A typical time frame for a

Deputy is a scheduling and time clocking software that simplifies staff scheduling and employee attendance tracking. Its features include paid time off (PTO) and availability monitoring, auto-scheduling, and labor demand forecasting. Basic HR functionalities are also available, allowing small and midsized businesses (SMBs) to streamline

A balloon mortgage is a type of loan that requires low or no monthly payments and requires a lump-sum payment at the end of the loan term. It differs from fully amortized loans where equal installments of the total balance are repaid over a period

Payroll compliance refers to the legal obligation businesses have to adhere to local, state, and federal laws related to employee compensation. It’s not just about paying your employees on time, but also ensuring that you’re withholding the correct amounts for taxes, providing the right benefits,