As a business owner, you may consider distributing bonuses to employees as a show of appreciation for their passion and dedication to the business and/or to reward employees for exceptional performance and/or achievements. It’s important to remember that bonuses should be treated as taxable income and reported accordingly.

As a business owner, receivables (accounts receivable or A/R) are a vital part of your business. If you are not billing or invoicing clients and subsequently, collecting those receivables in a timely fashion, your business will be unable to sustain itself.

When you make the shift from being an employee to a business owner, you’ll want to gain an understanding of how compensation and health insurance will differ as a business owner versus that of an employee, as well as familiarize yourself with something called imputed income.