The net investment income tax (NIIT) is an additional 3.8% tax on top of your regular income tax. It applies to investment income like dividends and interest. This tax can impact any taxpayer with income above thresholds assigned by the IRS to each filing status. The applicability threshold for NIIT is $250,000 for married taxpayers…
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Commercial Hurricane Insurance: Coverage & Costs
Though it started in June and runs until November, it feels like lately, hurricane season has made itself known through two back-to-back devastating hurricanes. Businesses, homeowners, and nonprofits are left with significant damages, and many wonder what role insurance plays when a natural disaster hits. Commercial hurricane insurance is an important combination of policy options…
What Is a Variable Interest Rate? Impact on Loans and Credit Cards
A variable interest rate, which is also commonly known as a floating or adjustable rate, is used as part of a financing agreement that represents a rate of interest that can change periodically. In contrast with fixed rates that have the same interest rate over a term, variable interest rates can fluctuate based on market…
What Is an Investment Property Line of Credit?
An investment property line of credit is a revolving credit facility that allows you to request funds via a draw, have the funds deposited to your account of choice, and use the funds on an as-needed basis. For an investment property, a line of credit can be used to finance property improvements, repairs and upgrades,…
What’s New in QuickBooks Online & How The Updates Benefit Businesses
Editor’s note: We will continuously update this post with new features of QuickBooks Online, so be sure to check back regularly. QuickBooks Online regularly introduces new features to make the platform more user-friendly and help users improve work efficiency. Below, I’ve listed the latest QuickBooks Online updates, including new features and changes, and discussed how…
What Is Squarespace? Key Features, Benefits & Pricing
Squarespace is a hosting and website design platform that allows you to create professional-looking websites easily without design or coding skills. It offers a drag-and-drop interface, award-winning customizable templates, and fully integrated tools for ecommerce, blogging, social media, and email marketing. Squarespace isn’t just one of the original no-code website builders. It continues to be…
Open-to-Buy (OTB) Planning Guide for Independent Retailers
An OTB plan helps you have the right product quantities at the right time to maximize sales and minimize over-buying.
What Is Open to Buy? Open-to-buy (OTB) is an inventory planning strategy and formula retailers use to create buying budgets for specific periods of time. It takes into account expected beginning-of-month and end-of-month inventory, planned sales, and planned markdowns. Basically, an open-to-buy budget tells retailers how much they can spend on inventory at a future…
What Is Interest Payable and How to Calculate It?
Interest payable is a liability that represents the amount of interest a company owes on its borrowings as of a specific date. It’s the interest that has accrued or accumulated over time but hasn’t been paid yet. This accrual method is a key accounting principle ensuring financial statements accurately reflect a company’s financial obligations at…