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What is

What Is a Qualified Joint Venture for Married Couples?

A qualified joint venture (QJV) is a business owned by a married couple. It allows them to report their business activity directly on their joint income tax return instead of filing a partnership return (Form 1065).

By September 5, 2024 | Taxes, What is

Without QJV rules, a business that is not formally organized with a state but is solely owned and operated by a married couple would default to being treated like a partnership for tax purposes—even when there is no official partnership agreement. Being treated as a partnership for tax purposes would subject the taxpayers to more…

What Is QuickBooks & What Does It Do?

By September 5, 2024 | Accounting, What is

QuickBooks is the most popular accounting software suite widely used by small businesses to manage their financial transactions. It lets you invoice customers, pay bills, generate reports, and print reports to be used to prepare taxes. The QuickBooks product line includes several solutions to support different business needs, including QuickBooks Online, QuickBooks Payroll, QuickBooks Time,…

SBA Form 1919: What It Is & How to Complete It

By September 4, 2024 | Financing, What is

SBA Form 1919, also known as the Borrower Information Form, is designed to gather various information about the borrower, the owners of the business, and the financing request. This can include basic identifying information, the purpose of the loan, and the nature of the company’s products and services. Lenders use the information provided to determine…

Background Check Policy: What to Include + Free Template

By September 3, 2024 | Free Resources, Human Resources, What is

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 fairness, transparency, and legal compliance. Your background check policy should…