Bench.co

A Guide To Health Insurance For S Corporation Shareholders

WEBEssentially, for shareholders with more than a 2% share in the S corporation, any health insurance premiums must be included as compensation. Health insurance premiums …

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URL: https://www.bench.co/blog/operations/s-corp-health-insurance

Financial Statements 101

WEBA balance sheet is a snapshot of your business finances as it currently stands. It tells you about the assets you own, and liabilities (i.e., debts) you owe, at a particular point in …

Category:  Health Go Health

Understanding a Balance Sheet (With Examples and Video)

WEBAssets = Liabilities + Owner’s Equity. Assets go on one side, liabilities plus equity go on the other. The two sides must balance—hence the name “balance sheet.”. …

Category:  Health Go Health

Form 8941: Guide to Small Employer Health Insurance Credit

WEBWhat is Form 8941? IRS Form 8941 is used to claim the Small Employer Health Insurance Credit.It's the tax form that must be completed and attached to your tax return to …

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How to Read and Analyze a Profit and Loss (P and L) Statement

WEBA P and L statement is a go-to financial statement that shows how much your business has spent and earned over a specific period of time. Your P&L statement shows your …

Category:  Health Go Health

Introduction to Generally Accepted Accounting Principles (GAAP)

WEBMay 15, 2023. In the early 20th century, the need for a standardized accounting system became evident. This led to the birth of GAAP, or Generally Accepted Accounting …

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Working Capital: What It Is and How to Calculate It

WEBThe formula for working capital is: Working Capital = Current Assets - Current Liabilities. Since working capital is calculated by subtracting your current liabilities from your …

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What's a Good Profit Margin for Your Small Business

WEBGross profit margin = ( (Revenue - Cost of Goods Sold) / Revenue) x 100. Your revenue is the total income generated by your business before subtracting any expenses. Cost of …

Category:  Health Go Health

Is Your Small Business Financially Healthy

WEBThe lower the number you get from this equation, the better. For reference, investors often look for businesses that have a debt ratio between 0.3 and 0.6. Companies that have a …

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Accounting for Medical Practices: Tips and Best Practices

WEBAccording to the Medical Group Management Association (MGMA), the following steps can help ensure you collect reimbursement for the services you provide: Collect patient …

Category:  Medical Go Health

Debt Ratio: Interpreting, Calculating, and Optimizing Financial Health

WEBA company's debt ratio, in simple terms, is a measurement that shows the proportion of a company's funding that comes from borrowing. It represents a key …

Category:  Health Go Health

A Simple Guide to Deducting Employee Benefits

WEBYou can usually deduct some of the cost of providing meals and lodging to your employees. Most meals are 50% deductible, for example, but meals that you include in an …

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Adjusted Gross Income: A Simple Guide to AGI

WEBThe first step to calculating your AGI is to figure out your gross income—your total income for the tax year. This includes wages, interest and dividend income, taxable retirement …

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How to Calculate Net Income (Formula and Examples)

WEBAlso called a ‘profit and loss statement,’ or ‘p&l,’ the point of a company’s income statement is to show how you arrived at your net income. The formula for calculating net income is: …

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How to Read (and Analyze) Financial Statements

WEBTo calculate your debt-to-equity ratio, use this formula: Debt to Equity Ratio = Total Debt / Owner or Shareholders’ Equity. Using the example above, we include the …

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IRS 1099-MISC Form: Filing Instructions, Usage, & Online Submission

WEBMost businesses will use Form 1099-NEC to report that income if it’s compensation. However, some types of “miscellaneous” payments–like equipment rental …

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Fixed vs Variable Costs (with Industry Examples)

WEBFixed costs vs variable costs vs semi-variable costs. Taken together, fixed and variable costs are the total cost of keeping your business running and making sales. Fixed costs …

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Above-The-Line Deductions: A Simple Guide

WEBMarch 11, 2022. This article is Tax Professional approved. Above-the-line deductions are expenses the IRS allows you to deduct directly from your gross income. Your gross …

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Bookkeeping Basics for Therapists

WEBBookkeeping Basics for Therapists. By. Paula Kehoe. on. December 8, 2022. Just like your therapy patients need your professional services to live well, your bookkeeping needs …

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