Key Takeaways A patent protects inventions: It gives inventors the legal right to prevent others from making, using, selling, or importing their patented inventions in the United States. There are three main types of patents: Utility patents protect functional inventions, design patents protect orna...

A Small Business Employer’s Guide to Payroll Taxes Key Takeaways Payroll taxes are a key employer responsibility: Businesses must calculate, withhold, deposit, and report applicable payroll taxes to comply with federal and state requirements. Employees and employers share certain payroll taxes: In 2...

Key Takeaways Bookkeeping is essential for financial management: It involves recording, organizing, and maintaining accurate records of a business's income, expenses, payments, and transactions. There are two main bookkeeping methods: Single-entry bookkeeping is simpler and may suit very small busin...