In a world of shortcuts, the harsh reality is that there is no secret sauce to cook up a dish of success. As for all those online courses and eBooks that promise to help you get rich quick, the inconvenient truth is that it’s only the author that is going to make money fast. The...
Maintenance and repair costs are classed as revenue or operating expenditures. However, upgrades or improvements to existing assets are classed as capital investments because they contribute to the improvement of the business. As we can see, capital expenses are multifaceted and can help improve your...
The other covers secondary activities such as that same restaurant subletting part of its kitchen to another chef or selling a piece of equipment it no longer needs. They are classed as follows: Operating revenue is money you generate from your primary business activities. This can be split ...
You’re not actively involved in the day-to-day operations of the company, but as a shareholder, you’re entitled to a portion of the profits. This type of passive income is classed as unearned income by the IRS and includes taxable interest and capital gain distributions. Rental income ...
Simple budgeting: PO financing is officially classed as a business cash advance, and you repay the funds you have borrowed in one lump sum direct from your customer’s payment to the lender. There’s no need to make regular weekly or monthly debt repayments or worry about maintaining a rese...
There are a huge number of substances which could be classed as hazardous and the list is far too long to enumerate here. However, they generally fall into the following broad categories: Biological organisms and agents.If organic matter, animals or people are infected with a h...
Even turnover on which the VAT rate is zero is classed as taxable turnover.Companies who do not pass this threshold do not need to charge VAT on the sale of their goods or services. They also do not need to register with HM Revenue & Customs (HMRC). This turnover threshold is ...
Time to revenue: EFT also allows businesses to receive their payments more quickly than they would traditionally wait for a paper cheque to clear. Flexibility: And, lastly, flexibility is a big EFT payment benefit. With the ability to send and receive payments from anywhere at any time, funds...
For example, someone in the market for a pair of shoes could be classed as a consumer, whereas someone who buys shoes from you is a customer. Can you use customer, consumer and client interchangeably? These words have subtly different meanings based on context. There’s a distinction between...
Maintenance and running repairs can be claimed as allowable expenses. So, for example, replacing a shower, bath, washbasin or toilets is allowable, because they’re classed as repairs, as long as you replace like for like. Improving a property, for example, by adding an extension or doing ...