federal income tax rates 2021 Archives - Monily

federal income tax rates 2021

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Looking to learn more about all things bookkeeping and accounting? Have a browse through our blog.

October 27, 2021
market research for startups

How To Do Market Research For a Startup

To compete in any industry, we must gather crucial data about how it operates, what is the nature of competition within the industry, what recent changes […]
October 21, 2021
mvp startup

What Every Startup Should Know About Building a Minimum Viable Product

More often than not, when someone has an idea, innovators believe that the market would see it in the same light they do. Inevitably, consumers only […]
October 20, 2021
Ecommerce Financing

Ecommerce Financing: A Guide To Your Options

Ecommerce financing is the pre-eminent solution to allow a business to join the internet gold rush. Ecommerce has quickly risen to become a multi-trillion dollar industry. […]
October 19, 2021
startup funding stages

5 Startup Funding Stages You Should Know About

A startup, more often than not, requires external help to become a truly successful business. The capital injection can help to bring in money for essential […]
October 18, 2021
startup runway

How To Manage And Extend Your Startup Runway

A startup runway is a time a company can keep operating before the finances run dry. Smart management of business resources will extend the startup runway […]
October 7, 2021
New Eidl Plicy

New EIDL Policy Changes In a Nutshell

In September this year, the Small Business Administration (SBA) announced some key changes to its Economic Injury Disaster Loan (“EIDL”) Program. The disaster loan provided by […]
October 7, 2021
burn rate calculator

How To Calculate Your Burn Rate And Startup Runway

How familiar are you with the term “burn rate”? Do you understand how crucial it is for your business to flourish and improve its financial health? […]
October 5, 2021
employee retention credit faq

Employee Retention Credit FAQs – All You Need to Know About ERC

Employee Retention Credit. What is it all about? What does it mean for your business? What is ERC? The Employee Retention Credit (ERC) raised a lot […]
October 5, 2021
Disruptive Startups

14 Most Disruptive Startups Of 2021

A common misconception about startups is that people often think that these are small-scale businesses catering to a niche segment of the market. Nothing could be […]
October 7, 2021
New Eidl Plicy

New EIDL Policy Changes In a Nutshell

In September this year, the Small Business Administration (SBA) announced some key changes to its Economic Injury Disaster Loan (“EIDL”) Program. The disaster loan provided by […]
October 5, 2021
employee retention credit faq

Employee Retention Credit FAQs – All You Need to Know About ERC

Employee Retention Credit. What is it all about? What does it mean for your business? What is ERC? The Employee Retention Credit (ERC) raised a lot […]
September 3, 2021
white label accounting services

What Are White Label Accounting Solutions And Why Your Business Needs Them?

Many fintech service providers are developing and licensing off-the-shelf accounting and financial management systems to startups, thus seeking high-scale growth. They can now tap into a […]
August 26, 2021
owner's equity

Owner’s Equity: What Is It And How Do You Calculate It?

Most startup and small business owners tend to focus most of their time and efforts on understanding assets and liabilities while not considering “equity” as an […]
August 20, 2021
bookkeeping tips

Top 10 Accounting And Bookkeeping Tips All Freelancers Need To Know

Freelancing is a viable career option for people who enjoy working at their own pace. As a freelancer, you’re an independent contractor which makes you your […]
August 20, 2021
accounting abbreviations

Top 100 Accounting Abbreviations And Terminologies You Should Know

Listening to an accountant speak can often leave you confused, because of various accounting abbreviations and acronyms that they tend to use. Accountants have a second […]
August 20, 2021
asset vs equity

Assets Vs Equity – Difference Between Assets And Equity

If you’re a business owner but don’t have a substantial finance or accounting background, terminologies like liabilities, asset, and equity might confuse you. However, while managing […]
August 5, 2021
Account Payable Vs. Accounts Receivable

Account Payable Vs. Accounts Receivable

July 27, 2021
how to calculate depreciation

What Is Depreciation? And How Do You Calculate It?

If you have recently launched your business or have been running one for years, you must have a fair idea of how business assets and resources […]
August 20, 2021
bookkeeping tips

Top 10 Accounting And Bookkeeping Tips All Freelancers Need To Know

Freelancing is a viable career option for people who enjoy working at their own pace. As a freelancer, you’re an independent contractor which makes you your […]
July 27, 2021
how to calculate depreciation

What Is Depreciation? And How Do You Calculate It?

If you have recently launched your business or have been running one for years, you must have a fair idea of how business assets and resources […]
July 20, 2021
truckers bookkeeping

6 Bookkeeping Tips for Truckers: The Basics

Bookkeeping is an essential first step towards staying organized in the trucking business. Apart from the daily tasks of running a trucking business, the back-office duties […]
July 2, 2021
how to calculate net income

How To Calculate Net Income

The bottom line on a company’s income statement is often the best way to gauge its financial health and foresee a profitable future – if any. […]
July 1, 2021
difference between debit and credit

Difference Between Debit and Credit – Bookkeeping Basics Explained

In accounting, the terms “debits” and “credits” might get confusing at times. This gets even trickier if you are a small business owner with no prior […]
June 23, 2021
medical bookkeeper

Making Bookkeeping Easier For Healthcare Providers

Whether you are the CEO of a healthcare facility or you are a doctor running a private medical practice, you must already be aware of how […]
June 18, 2021

Top 10 Common Bookkeeping Mistakes

Let’s be honest: bookkeeping isn’t fun, but it’s a crucial function that ensures your business continuously generates profits. While technology and the cloud have definitely made […]
June 18, 2021
cogs vs expenses

COGS vs Expenses: What’s the Difference?

One of the frequently asked questions with regard to business spending is whether the Cost of Goods Sold (COGS) and operating expenses are the same thing. […]
May 16, 2021

Top 6 Small Business Bookkeeping Tips For Steady Financial Success

Introduction Efficient management of your small business accounting can help establish your success. Keeping your accounting and finances in order should be an achievable goal. You’ll […]
August 27, 2021
tax liability

What Is Tax Liability And How To Calculate It

Benjamin Franklin once said, “in this world, nothing is certain except death and taxes.”. Whether you are employed, self-employed, or operate your own business, you will […]
August 20, 2021
how long to keep business tax records

How Long To Keep Business Tax Records And Receipts?

The basic rule of business management requires you to keep your financial statements ready at all times. It allows you to keep tabs on your expenses, […]
July 15, 2021

Filing Business Back Tax Returns In 2021 – A Complete Guide

Filing your tax returns as a small business owner for the first time is as exciting as it is overwhelming. You try your best to file […]
July 9, 2021
tax tips 2021

10 Tax Tips For Tax Filing in 2021

The third quarter of 2020 taxes is due on September 15, 2021. How prepared are you to file your taxes? Are your books in good shape? […]
June 25, 2021
capital gains calculator

Capital Gains Tax Calculator – How To Calculate Capital Gains Tax in 2021

Are you planning to sell your stocks for a profit? Sounds great. But don’t count your chickens before they hatch. Making money on an investment in […]
June 12, 2021
federal income tax rates 2021

2021 Federal Income Tax Brackets & Rates

In brief  There are seven tax brackets with 2021 federal income-tax rates of 10%, 12%, 22%, 24%, 32%, 35% and 37%. Your tax rate hinges on […]
June 11, 2021

Small Business Tax Deductions Checklist For 2021

Starting a business is a big feat for many entrepreneurs, but keeping the ball rolling is a much bigger challenge. Besides other pain points, the ongoing […]
May 16, 2021

What Biden’s Reported Capital Gains Tax Hike Could Mean For Startup Employees

President Joe Biden’s American Families Plan seeks a historic tax hike on the investment returns of the top earners. The aim is to target the richest Americans […]
May 16, 2021

Startup Tax Filing – Things You Need to Know In 2021

With the tax season just around the corner, many startups and small business owners are concerned about not being able to timely track all the receipts […]
September 13, 2021

The Role Of a CFO In Startups

Whether a CFO is essential for a startup has been endlessly debated but the jury’s still out. While some believe a well-trained financial team can handle […]
June 13, 2021

Virtual CFO Services – Why Your Business Needs Them

Every business grows at a different rate. It’s one thing to know where to take your company next and the other how to get there. But […]
June 11, 2021

The Growing Importance And The Role Of a Healthcare CFO

A healthcare chief financial officer (CFO),just like in any other industry or business, oversees all financial operations of the healthcare organization. From preparing financial statements and creating […]
May 16, 2021

What Is A CFO And What Benefits Do You Get From Outsourced CFO Services?

Knowing how to run your business is one thing. But knowing whether your business is actually making you money is a completely different topic. Business owners […]
May 16, 2021

CFO vs. Controller: What’s the Difference?

The controller versus CFO debate is a relatively new yet puzzling one. Some companies choose to have both a CFO and a controller in their workplace, while some prefer only […]
June 11, 2021

A Small Business Guide To Payroll Management

Small business owners juggle a variety of different tasks on a daily basis, including growing their business, engaging with clients and other stakeholders, employing and overseeing […]
June 11, 2021

How Are Payroll Taxes Calculated – A Step-By-Step Guide

Now, more than ever, small business owners find computing payroll taxes increasingly challenging. Having to look after the intricacies of their business, and strategize for growth, […]
May 16, 2021

10 Helpful Tips in Managing Payroll Effectively

Getting the employee’s payrolls processed on time is one of the major responsibilities of any business owner. However, it is also where usually the most mistakes […]
June 11, 2021

What Does a Financial Controller Do And Should You Hire One?

Finding the time to handle strategic planning and maintaining day-to-day financials can prove to be a major challenge for CFOs, especially those managing businesses that are […]
May 16, 2021

CFO vs. Controller: What’s the Difference?

The controller versus CFO debate is a relatively new yet puzzling one. Some companies choose to have both a CFO and a controller in their workplace, while some prefer only […]
May 16, 2021

Leveraging Outsourced Controller Services To Future-Fit Your Small Business

Your business is booming, money is constantly rolling in, you are making strides with acquiring new prospects and growing your client base. In the midst of […]
October 27, 2021
market research for startups

How To Do Market Research For a Startup

To compete in any industry, we must gather crucial data about how it operates, what is the nature of competition within the industry, what recent changes […]
October 21, 2021
mvp startup

What Every Startup Should Know About Building a Minimum Viable Product

More often than not, when someone has an idea, innovators believe that the market would see it in the same light they do. Inevitably, consumers only […]
October 20, 2021
Ecommerce Financing

Ecommerce Financing: A Guide To Your Options

Ecommerce financing is the pre-eminent solution to allow a business to join the internet gold rush. Ecommerce has quickly risen to become a multi-trillion dollar industry. […]
October 19, 2021
startup funding stages

5 Startup Funding Stages You Should Know About

A startup, more often than not, requires external help to become a truly successful business. The capital injection can help to bring in money for essential […]
October 18, 2021
startup runway

How To Manage And Extend Your Startup Runway

A startup runway is a time a company can keep operating before the finances run dry. Smart management of business resources will extend the startup runway […]
October 7, 2021
burn rate calculator

How To Calculate Your Burn Rate And Startup Runway

How familiar are you with the term “burn rate”? Do you understand how crucial it is for your business to flourish and improve its financial health? […]
October 5, 2021
Disruptive Startups

14 Most Disruptive Startups Of 2021

A common misconception about startups is that people often think that these are small-scale businesses catering to a niche segment of the market. Nothing could be […]
September 13, 2021

A Guide To Banking Options For Startups In 2021

One of the major challenges of operating a business is managing your money. From receiving payments to covering expenditures, you need a bank account to accomplish […]
September 13, 2021

The Role Of a CFO In Startups

Whether a CFO is essential for a startup has been endlessly debated but the jury’s still out. While some believe a well-trained financial team can handle […]
June 12, 2021
federal income tax rates 2021

2021 Federal Income Tax Brackets & Rates

In brief  There are seven tax brackets with 2021 federal income-tax rates of 10%, 12%, 22%, 24%, 32%, 35% and 37%. Your tax rate hinges on […]