How to manage business assets and liabilities

Parminder Kaur, Financial Center Manager at Fifth Third Bank, joined us today to discuss assets and liabilities.

She explained that an asset is anything that brings revenue to your business, and there are two main types: physical (tangible) assets and intangible assets. Liability is a business’ credit worthiness and it helps you get deductions at the end of the tax year. An annual business review with a financial manager can help keep track of both assets and liabilities.

For more information, watch the video above. To learn more about Fifth Third Bank click here.