A stock-keeping unit (SKU) is an alphanumeric code that identifies a product and helps you track inventory for your retail business. The information your SKU includes is completely up to you—distinguishing it from a universal product code (UPC), a standardized 12-digit code manufacturers use to identify products. Depending on the type of inventory, your SKU…
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Stamps.com: How It Works for Small Businesses
Stamps.com, available via desktop app and cloud-based platform, lets businesses buy postage online and print postage and shipping labels through its integrations with the United States Postal Service (USPS) and United Parcel Service (UPS). Users can save even more time by scheduling package pickup straight from their place of business. Monthly plans start at $17.99,…
Experience Modification Rating: Definition & How To Improve It
An experience modification rate (EMR) is a multiplier insurance companies use to help set workers’ compensation premiums. Insurers determine your EMR by looking at your workers’ comp claims history and potential for future injuries compared to others in your industry. Businesses with lower EMRs pay less for workers’ compensation insurance. EMRs commonly range from 0.48…
What Is FTE & How to Calculate It
FTE stands for full-time equivalent and is used by businesses to calculate the total number of full-time hours worked within their business among all employees. A full-time employee (working 40 hours per week) is equal to one FTE; a part-time employee (working 20 hours per week) is equal to 0.5 FTE. Determining the number of…
What Is an EAP? Small Business Guide (+ Sample EAP Policy)
An employee assistance program (EAP) offers support for personal and workplace problems that can affect employee output at work and satisfaction and happiness at home. Most EAPs help employees with substance abuse and mental health issues but can also cover family issues, wellness concerns, and retirement planning. As you explore the possibility of an EAP…
What Is the Dividends Received Deduction (DRD) & How To Compute
The Dividends Received Deduction (DRD) is a tax break available to domestic C corporations (C-corps) that own stock in other domestic corporations and receive dividends from them. The DRD’s main purpose is to protect corporations from being subject to triple taxation. A corporation can claim a specific amount of DRD based on its ownership stake…
What Business Start-up Costs Are Tax Deductible?
For the first year, you can immediately deduct up to $5,000 in start-up costs for expenses like salaries for new hires, executives, and consultants that were incurred prior to the start of business. You can deduct another $5,000 in organizational expenditures like accounting service costs and legal services. Start-up costs and organizational expenditures over $5,000…
Help Desk vs Service Desk: Differences, Use Cases & Providers
A help desk and service desk are both support channels that IT management and software users can access for assistance. Though they sound like they provide the same functions, there are clear-cut differences between a service and a help desk in terms of support objectives, who they’re designed for, and overall capabilities. In this article,…