Gross profit is the money a business has remaining after it has paid off the direct costs of manufacturing a product or service.
In accounting terms, when we talk about gross profit, we are referring to the income that a business has left over after paying all the direct costs[…]
Every small business with employees needs to calculate withholding tax so that they can deduct the correct amount from each employee’s paycheck to cover[…]
Once you’ve accounted for all returns, sales discounts and allowances, what remains of your gross sales figure is your net sales.
If you earn below a certain threshold each year, it’s possible that you won’t have to pay federal income tax.
