There is no definitive way or mathematical model to solve how to calculate the useful life of an asset, as the calculation varies depending on whether you follow IRS tax regulations or GAAP guidelines. As such, I’ll go over how to determine the useful life of an asset for two purposes: tax depreciation and financial…
How To
How to Start a Cleaning Business: Complete Guide
With the janitorial services industry currently valued at $931 billion, starting a cleaning business can be a profitable venture, whether you’re looking into residential or commercial cleaning services. In this guide, we cover the essential steps and low-cost strategies to help you launch your cleaning business on a budget. You can also download our complete guide…
How to Start a Small Business: An Ultimate Guide
Starting a small business involves coming up with a business idea, testing the idea, writing a business plan, acquiring funding, choosing a business structure, registering the business, getting it insured, making key hires, setting up systems, and finally, marketing and promoting it. Whether you’re starting a part-time business or quitting your corporate job to create…
Disposal of Fixed Assets: How To Record the Journal Entry
Fixed assets must be removed from the balance sheet when they are disposed of, whether through sale, exchange, or retirement from operations. This process involves a journal entry that impacts multiple balance sheet accounts, as well as an income statement account to record any gain or loss from the disposal. Properly removing disposed assets is…
How Much Does a Billboard Cost? (+ Pricing & Ad Tips for 2025)
How much does a billboard cost in the US? In 2025, the national average is $3,953.16 for a four-week campaign. However, it depends on where your billboard will be placed and the type of billboard you use (physical or digital). Plan to spend between $1,000 and $5,000 a month in small to mid-size cities and…
How to Make a Website for Small Businesses in 6 Steps (+ Expert Tips)
If you want to build and grow your brand online, a website is one of the best things to help. Making a website for a small business involves outlining your website’s technical priorities, finding the best platform for your needs, mapping your site structure, designing your website around your user journey, optimizing your site for…
How to Start a Gift Basket Business in 7 Steps
Starting a gift basket business involves finding your market niche, selecting between online or storefront sales, registering your business, designing your baskets, and implementing a targeted marketing strategy. Whether you launch from home or open a retail location, you’ll need a solid business plan, creative design skills, and an initial investment. Many successful gift basket…
How to Use Google Voice for Small Business Communications
Using Google Voice for business is quick and easy as long as you have a stable internet connection and a Google account. It works seamlessly across iOS and Android devices, a web browser, or even a desk phone. Core functionalities include unlimited domestic calls, text messaging, voicemail transcription, and an auto-attendant. In this walkthrough, we…