Archive for January 2025

New Mexico is one of the few states with a gross receipts tax. It is a tax imposed on the seller of products and services but, as with any tax law, there are a few exceptions. Gross receipts DOES NOT include: Gross receipts are taxable, exempt, or deductible. If your receipts do not fall under…

A balance sheet is one of the most important of the four basic financial statements. It offers a quick look into your business’s financial health showing assets, liabilities and net worth. Use it to see how your company is performing in the current period, how it performed during the previous period, and how you can…