ProfitDrawer Answers
Short, sourced answers to the questions small business owners ask about bookkeeping, taxes, pricing and money. Each answer shows when it was last updated and where the facts come from.
Bookkeeping basics
Tracking income and expenses, receipts, records, cash flow and profit for a small business or side business.
- How do I keep track of business expenses as a small business owner?
- How do I keep track of business expenses in a spreadsheet?
- How long should a small business keep tax records and receipts?
- What is cash flow in a small business?
- How do I do bookkeeping for a small business myself?
- Do I need a separate bank account for my small business?
- What records do I need to keep for business mileage?
- What is the difference between bookkeeping and accounting?
- Is a spreadsheet good enough for small business bookkeeping?
- How often should I update my business books?
- What is a profit and loss statement for a small business?
- How do I keep track of unpaid invoices?
- What is the difference between cash and accrual accounting?
- What are the main categories of business expenses?
- How do I separate personal and business expenses when I use one card?
- How do I record cash payments from customers?
- Do I need to keep paper receipts or are photos enough?
- How do I track income from several payment apps?
- How do I track tips in my business books?
- How do I reconcile my bank statement with my books?
- What is the difference between revenue and profit?
- What should I give my accountant at the end of the year?
- Why are accurate accounting records important to a business?
- What is a general ledger in simple terms?
- What is a chart of accounts for a small business?
- How do I track business expenses I paid with personal money?
- How do I track inventory costs for a small product business?
- What should a monthly bookkeeping checklist include?
- How do I track money owed to my business?
- What is a balance sheet and does a sole proprietor need one?
- How do I track expenses for a side business next to my job?
- How do I catch up on bookkeeping that is months behind?
- How do I keep books for a church or nonprofit treasurer role?
- How do I keep books for a PTA or school club?
- How do I track income and expenses for a rental property?
- What does a bookkeeper do for a small business?
- How much does it cost to hire a bookkeeper for a small business?
Small business taxes
US federal tax deadlines, self-employment tax, quarterly estimated payments, 1099 forms and common deductions, in plain words.
- When are small business taxes due in 2027?
- What is self-employment tax and how much is it in 2026?
- Do I have to pay quarterly estimated taxes in my first year of business?
- When are quarterly estimated tax payments due in 2027?
- How much should I set aside for taxes if I am self-employed?
- What is the IRS standard mileage rate for business in 2026?
- Do I need to send a 1099-NEC to contractors I paid in 2026?
- When will a payment app send me a Form 1099-K?
- How does the simplified home office deduction work?
- What business expenses are tax deductible?
- Can I deduct business meals?
- Do I have to file taxes if my side business made less than $400?
- When are S corporation taxes due in 2027?
- Does a tax extension give me more time to pay?
- What happens if a tax deadline falls on a weekend or holiday?
- Can I write off my car as a business expense?
- What is the qualified business income deduction?
- How do I file business taxes for a single-member LLC?
- Will I get a tax refund if my business loses money?
- Can I deduct business startup costs in my first year?
- Is business insurance tax deductible?
- Are business loan payments tax deductible?
- Can I deduct my phone bill as a business expense?
- What is Schedule C and who files it?
- How do I pay estimated taxes online to the IRS?
- What is the penalty for not paying quarterly estimated taxes?
- What is the safe harbor rule for estimated tax payments?
- Can I deduct the cost of a laptop for my business?
- What is the de minimis safe harbor for small purchases?
- Can I deduct health insurance premiums if I am self-employed?
- Can I switch from actual car expenses to the standard mileage rate?
- What is Form 941 and who has to file it?
- Is the money I take out of my LLC taxable?
- Do I pay taxes on Etsy sales?
- How do I report cash income on my tax return?
- What is the Social Security wage base for 2026?
- What is a W-9 and when do I ask for one?
- Can I deduct education or training for my business?
- Can I deduct clothing or uniforms for work?
- Can I deduct the business use of my home if I rent?
- How do I file a tax extension for my business?
- Is student loan interest tax deductible?
Start a business
Startup costs, licenses, LLC or sole proprietor, EIN, bank accounts and first steps for a new small business.
- How much does it cost to start a small business?
- Do I need an LLC to start a small business?
- How do I get an EIN for my business and does it cost anything?
- Do I need a business license to sell online?
- How much does it cost to start a cleaning business?
- What licenses are needed to start a cleaning business?
- How much does it cost to start a lawn care business?
- How much does it cost to start a vending machine business?
- How much does it cost to start a food truck business?
- Do you need a license to start a credit repair business?
- Do I need a CDL to start a box truck business?
- How do I write a simple business plan?
- What is the difference between a sole proprietorship and an LLC?
- How do I start a business with no money?
- How much does it cost to start a landscaping business?
- How much does it cost to start a pressure washing business?
- How much does it cost to start a mobile detailing business?
- How much does it cost to start a candle business?
- How much does it cost to start a dog walking business?
- How much does it cost to start a catering business?
- How much does it cost to start a laundromat business?
- How much does it cost to start a trucking business with one truck?
- What licenses do I need to start a catering business?
- Do I need a license to start a home daycare?
- Do I need a liquor license for a mobile bar business?
- What permits do I need for a food truck?
- Do I need a USDOT number for a courier business?
- Do I need a business license to sell on Etsy?
- Do I need insurance for a small service business?
- How do I open a business bank account?
- How do I register a business name (DBA)?
- Can I run a business from my home?
- Is a cleaning business profitable?
- Do vending machines make money?
- Is non-medical transportation the same as NEMT?
- Can a credit repair company remove negative items?
- How much does it cost to start a jewelry business?
- How much does it cost to start a photography business?
- How much does it cost to start a handyman business?
- How much does it cost to start a painting business?
- How much does it cost to start a junk removal business?
- How much does it cost to start a mobile bartending business?
- How much does it cost to start a courier business?
- How much does it cost to start a medical transportation business?
- How much does it cost to start a home daycare business?
- How much does it cost to start a window cleaning business?
- How much does it cost to start a bookkeeping business?
- How much does it cost to start a t-shirt business?
- What licenses do I need to start a home care business?
- How long does it take to get MC authority for a trucking company?
- Do I need a license to start a handyman business?
- Do I need a license to start a pressure washing business?
- Do I need a license to start a tutoring business?
- How much does small business insurance cost?
- What should I buy first when starting a service business?
- How do I get my first customers for a local service business?
- Do food trucks make money?
- Is a mobile detailing business profitable?
- Can my caregivers be independent contractors?
- Should I buy an existing laundromat or build a new one?
- How do I start a business while working a full-time job?
- How do I get a small business loan as a new business?
- Where can I get free help starting a small business?
- What must I do after I write my business plan?
Pricing and profit
How to price a job or product, profit margin, markup, break-even and paying yourself.
- How do I calculate profit margin for my small business?
- What is the difference between markup and margin?
- How do I price a service job so I make a profit?
- What is a good profit margin for a small business?
- How do I calculate my break-even point?
- How much should I charge per hour as a self-employed person?
- How do I pay myself from my small business?
- How do I set a monthly profit goal for my business?
- How do I know if my small business is actually making money?
- How much should I charge for house cleaning?
- How much should I charge for a dog walk?
- How much should I charge for lawn mowing?
- How do you price catering per person?
- How much should I charge for tutoring per hour?
- How much should I charge for a photo session?
- How much should I charge for home daycare per week?
- How do I price pressure washing per square foot?
- How do I price a mulch job?
- How do I price junk removal by load size?
- How do I price candles to make a profit?
- How do I price handmade products for Etsy?
- How do I raise my prices without losing customers?
- Should I charge by the hour or by the job?
- How do I include travel time in my prices?
- What is a cost per mile and how do I calculate it for a truck?
- How do I work out food cost percentage for a food truck?
- How do I calculate the profit on one laundromat wash cycle?
- How much does a lawn care business make a year?
Personal budgeting
Household budgets, zero-based budgeting, emergency funds, saving and paying off debt.
- What is a zero-based budget and how does it work?
- What is the 50/30/20 budget rule?
- How much should I have in an emergency fund?
- Should I pay off my car loan early?
- How much do extra payments save on a car loan?
- What is the difference between the debt snowball and debt avalanche?
- How do I make a budget when my income changes every month?
- What are sinking funds?
- How do I start a budget for the first time?
- Is a debt consolidation loan a good idea?
- How do I budget on a low income?
- Why is it hard to get out of debt paying only the minimum payment?
- Does paying biweekly pay off a car loan faster?
- How do I make sure extra payments go to the loan principal?
- Should I keep my emergency fund in a separate account?
- How do I budget money as a couple?
- How do I use cash envelopes for budgeting?
- Should I save or pay off debt first?
- How do I stop overspending on groceries?
- How do I budget for irregular expenses like car repairs?
- How do I pay off credit card debt when I have little money left over?
- How do I save for a house down payment?
- How do I teach kids about money with an allowance?
- How do I do a savings challenge?
- How do I budget a paycheck every two weeks?
- How do I build a budget that includes my side income?
- How do I track spending without an app?
Google Sheets and Excel how-tos
Everyday Google Sheets and Excel tasks for people who track money in a spreadsheet.
- How do I open an Excel file in Google Sheets?
- How do I make a copy of a Google Sheets file into my own Drive?
- How do I add a drop-down list in Google Sheets?
- How do I freeze the top row in Google Sheets?
- How do I use SUMIF to total expenses by category?
- Can I use Google Sheets offline?
- How do I protect cells from being edited in Google Sheets?
- How do I download a Google Sheets file as an Excel file?
- How do I use conditional formatting to highlight overdue invoices?
- How do I add up a column in Google Sheets?
- How do I make a chart in Google Sheets?
- How do I share a Google Sheet with my accountant as view only?
- How do I see the version history of a Google Sheet?
- How do I change the currency format in Google Sheets?
- How do I add a checkbox in Google Sheets?
- How do I sort data by date in Google Sheets?
- How do I filter rows in Google Sheets?
- How do I use SUMIFS with a date range?
- How do I make a pivot table in Google Sheets?
- How do I print a Google Sheet on one page?
- How do I use VLOOKUP or XLOOKUP for a price list?
- How do I calculate a percentage in a spreadsheet?
- How do I open a Google Sheet on my phone?
- Why does my formula show an error in Google Sheets?
- How do I copy a formula down a whole column?
- How do I change the date format in Google Sheets?
- How do I set a spreadsheet's locale and time zone in Google Sheets?
- How do I recover a deleted row in Google Sheets?
About ProfitDrawer files
Downloading, opening in Google Sheets or Excel, refunds, support and which ProfitDrawer spreadsheet fits your business.
- What is ProfitDrawer?
- How do I download a ProfitDrawer file I bought on Etsy?
- Do ProfitDrawer spreadsheets work in Google Sheets and Excel?
- What is in a ProfitDrawer bookkeeping spreadsheet?
- What is ProfitDrawer's refund policy?
- How do I contact ProfitDrawer for help with a file?
- Which ProfitDrawer spreadsheet should I buy for my trade?
- Is there a subscription for ProfitDrawer spreadsheets?
- Does a ProfitDrawer bookkeeping spreadsheet file my taxes or create invoices?
- What free calculators does ProfitDrawer offer?
- Can I use a ProfitDrawer spreadsheet for more than one year?
- Can I change the categories in a ProfitDrawer spreadsheet?
- Can I use my own currency in a ProfitDrawer spreadsheet?
- Does the ProfitDrawer spreadsheet track mileage?
- Are ProfitDrawer printables US Letter or A4?
- Do I need to be good with spreadsheets to use ProfitDrawer files?
- Can I use a ProfitDrawer spreadsheet on my phone?
- What is the difference between a ProfitDrawer spreadsheet and a business kit?
- Does ProfitDrawer have a free invoice template?
- Is there a ProfitDrawer spreadsheet for landlords?
- Is there a ProfitDrawer spreadsheet for church or nonprofit treasurers?
- Does ProfitDrawer sell a 2027 small business tax calendar?
- Can I share a ProfitDrawer spreadsheet with my bookkeeper or accountant?
- Is ProfitDrawer tax or financial advice?