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Freelancers vs. Sole Traders A freelancer is an independent contractor who enjoys flexibility in choosing projects and work arrangements. Sole traders run their own business fully and handle administrative and managerial work. Both freelancers and sole traders need an ABN and register for GST over $75k. Tax obligations differ depending on business structure. Legal status … Read more

Financial Performance of Barnes & Noble Barnes and Noble is profitable and expanding. The company has posted gross profits for multiple years. During 2020’s first quarter their gross profits totaled $529 million, up from $497 million in 2019’s first quarter. Although profits have fluctuated, the company has consistently met net profit goals since 2013. Expansion … Read more

Sallie Mae: Sallie Mae generally expects borrowers to have a credit score of 650 to 700 or higher. Other factors like income, employment history, and debt-to-income ratio also affect approval. If your credit score is below 650, adding a cosigner with a higher score can improve your chances and terms. Private Lenders: Most private lenders … Read more

Understanding the tax implications of professional and organizational membership dues can be critical for individuals and businesses. Membership Dues and Tax Deductions Generally speaking, board member dues are not tax deductible. Let’s explore the criteria for tax-deductible membership dues to discover if your nonprofit’s membership program qualifies. If a nonprofit membership program only provides negligible … Read more

Understanding YouTube Earnings Does YouTube really pay to watch videos? You’re paid for the times when someone watches or clicks on an ad on your video. The average YouTube channel can expect to make about $18 per 1,000 ad views. Monetizing Your Channel Creating and running a YouTube channel can be rewarding. AdSense is the … Read more

Overview of Different Forms of Business Organization: 1. Sole Proprietorship The most common form of business with complete owner control. The owner is personally liable for all financial obligations and debts. 2. Partnerships Unincorporated organizations with two or more partners designed to balance risks and returns. 3. Corporations Separate legal entities owned by shareholders offering … Read more

Closing an EIN Number To close your business IRS account, write to the IRS office in Cincinnati and explain why. Include the complete legal business name, EIN, and address. If you have the EIN confirmation letter, include it. To confirm an EIN cancellation, the IRS sends a letter within 45 days confirming they received the … Read more