Managing Categories
With regards to the categories, we provide a built-in list and that can’t be renamed, but you are free to create additional ones that better suit your needs, and hide ours. You can handle all this in the Transaction Category Management setting. To get there, go to the User Menu, select Application Settings (see below) […]
What age should I start saving for retirement?
As soon as you earn a paycheck, I’m not kidding.
As a person who is self-employed, how much should I save for retirement?
There are two sides to consider: what you are allowed to contribute and what you can afford to contribute.
What is a SEP IRA?
The SEP IRA (or Simplified Employee Pension IRA) allows you, the self-employed individual, to setup a retirement account.
Why is the power of compounding so important for retirement purposes?
Compounding interest is when you are paid interest, on the previous interest you earned, hence compounding.
Should I use a personal credit card for my business expenses?
If you don’t have an LLC, you can use your personal credit cards, but the onus will be on you to separate the charges.
How often should I be paying estimated taxes?
Quarterly taxes are due 4 times a year. They don’t follow the standard calendar quarter schedule though.
What kind of company should I form?
A corporate structure’s job is to shield you from the liability of the business.
What is an S-Corp and why would I need it?
It basically allows you to become a regular employee of your company with a periodic paycheck and W2 at the end of the year at a salary that you determine.
What is an LLC and why would I need it?
It’s low cost, easy to open and maintain and very popular.
