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As a campaign vendor, understanding billing practices and the distinction between commission and markup is essential. In this blog post, we’ll explore these concepts in detail and demonstrate how to accurately calculate each option. Gross vs. Net Rates First, let’s clarify the difference between gross and net rates. The gross rate represents the total amount […]

commission and markup

Commission and Markup: Ensuring Accurate Billing for Campaign Vendors

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Running a small political business can be a challenging and time-consuming endeavor. One of the key aspects of managing a successful political business is proper accounting and bookkeeping practices. In this post, we’ll discuss some key considerations that you should keep in mind about accounting for small political businesses. Open a Separate Bank Account One […]

Accounting for small political businesses

Accounting for Small Political Businesses

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When starting a political business, one of the first decisions you’ll need to make is what type of business structure to use. There are several different types of business structures to choose from, each with its own set of advantages and disadvantages. The most common types of political business structures include sole proprietorships, partnerships, limited […]

Political Business Structures

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Self-employment taxes refer to the taxes that self-employed individuals are responsible for paying on their income. These taxes include Social Security and Medicare taxes, which are collectively known as FICA (Federal Insurance Contributions Act) taxes. As a self-employed individual, you are responsible for paying both the employer and employee portions of FICA taxes. The current […]

Self-Employment Taxes 101