The Economic Injury Disaster Loan (EIDL) program – what you need to know
The Economic Injury Disaster Loan (EIDL) program is a federally funded program that provides financial assistance to businesses and non-profits in the aftermath of natural disasters. The loan amount ranges from $2,000-$200,000 depending on the size of the business and how long they have been open. It is now known as the COVID-19 EIDL Loan…
Read MoreWhat Is the Difference Between Cash and Accrual Accounting?
As a business owner, you may be wondering which type of accounting system is best for your company. There are two types of systems: cash basis and accrual basis. Cash basis accounts for income when it’s received, while accrual bases record income when it’s earned. What’s the best method for your business? Cash Basis Accounting…
Read More5 Bookkeeping Tips For Small Businesses
If you are about to start a new business, you can do yourself a huge favor by setting your bookkeeping up properly from the very beginning. Here are 5 tips from Halsey Resources on getting your bookkeeping started off on the right foot. Keep your business and personal accounts separate Once your business gets started,…
Read MoreBusiness Bookkeeping during the pandemic
With the changes that we’ve all been through in the past year of pandemic living, it’s apparent that how we did business changed dramatically in 2020. As you look at your bookkeeping as a business owner in 2021, you need to keep these changes in mind when preparing your business records for taxes, loans, and…
Read MoreAbout PPP loans and your taxes
If you applied and received a PPP loan in 2020, there are a few things to keep in mind regarding your taxes. The COVID Relief bill that was passed at the end of December included a declaration that expenses paid with PPP are deductible. It also established that PPP funds are not considered business income.…
Read MoreOnline Learning Opportunities for PPP Loan Forgiveness
At Halsey Resources, we wanted to share a few online events we are aware of for learning more about PPP Loan Forgiveness through the Small Business Association. The following events offered through the Washington Small Business Development Center (SBDC). This is a network of more than 30 expert business advisors working in communities across the…
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