Livestream shopping is when companies, brands, or entrepreneurs host live shopping events online where viewers can see and learn about products from a live host, ask questions or interact with the host, and then purchase items right on the stream. While livestream shopping is relatively new to the US, it is already huge in many…
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Restaurant Tip Pooling: Ultimate Guide (+ Free Template)
Before implementing tip pooling in your restaurant, it’s important to completely understand what’s involved. Learn more about the practice, including applicable laws.
Tip pooling is when a portion or all of the tip money collected in a day is redistributed among tip-eligible employees, either evenly or by a set percentage. This practice can increase morale and is a great option for some restaurants. However, it’s important to implement correctly, as there are laws—like those forbidding management participation—that…
What Is a Convertible Note? Examples & How It Works
A convertible note is a financial document that allows a business to receive cash in exchange for equity in the company. This is a short-term agreement typically made with an angel investor, venture capitalist, or other type of private investor. It’s similar to a loan because it allows a business to receive more funding. However,…
The 5 C’s of Credit: What Lenders Look For
Banks and lenders use the 5 C’s of credit analysis to determine a borrower’s risk and creditworthiness. Some create point systems for each category, while others consider the 5 C’s using their subjective judgment during the approval process. Although these characteristics are weighted differently from lender to lender, most use the same aspects to evaluate…
Debits and Credits in Accounting: A Simple Breakdown
Debits and credits represent the right and left sides of the accounting equation and are the foundation of the double-entry accounting system. As an accounting professor, I’ve had the honor to teach this fundamental of bookkeeping to hundreds of beginning accounting students and have settled on the following definitions for debits and credits: debits are…
How Much It Costs to Advertise on Google
Google Ads cost averaged $2.96 per click in 2022. But there is no single answer as to how much it costs to advertise on Google because it varies based on your budget, keywords, industry, and quality score. However, you can set a budget for your ads so you only have to pay for actual results…
What Is the Amortization Deduction on Tax Returns & Which Intangible Assets Qualify?
Amortization is a cost recovery method used to deduct the cost of Section 197 intangible assets over a fixed period. In general, Section 197 intangibles are amortized over a 15-year period using the straight-line method—meaning that the same amount is deducted each year for 15 years. The most common intangible asset is goodwill on the…
What Is a PEO & How Does It Work?
A professional employer organization (PEO) is a co-employment alternative for small businesses that want to offer human resources (HR), payroll, and competitive employee benefits. A PEO acts as the employer of record (EoR) for payroll and tax purposes; however, it shares employee-related responsibilities and legal aspects with the company. As the legal employer, the PEO…