2019 continues the new tax regime passed two years ago that proved so friendly to business. The corporate tax rate now tops out at 21 percent. While that’s great for reducing your tax bill, it also means that deductions are worth less than they used to. Nonetheless, deductions help you save money and might make […]
Small Business Tax Deductions You Should Know About Read More
Many business owners haven’t had the opportunity to attend fancy college programs in business and finance. Nonetheless, there are many terms related to loans and credit that you need to understand, especially if you are about to apply for your first business loan. Here is IOU Financial’s rundown of important lending terms. ACH Transfer: An
Lending Terms Business Owners Need to Know Read More
According to Benjamin Franklin, there are only two certainties in life: death and taxes. Although tax season is still a few months away, it’s advantageous that business owners start preparing for it now. There are certain steps that need to be taken to be able to report the right amount to the IRS and make
Tax Season Prep: Five Steps to Get You Ready Now Read More
You might occasionally encounter a business owner who has a dim view of debt. That’s unfortunate, because debt, if you manage it properly, can help you grow your business. Here are several ways your business will benefit from the prudent use of debt: Accelerate growth: You can use loan proceeds to buy new equipment/facilities, hire
How to Make Business Financing Part of Your 2019 Growth Plan Read More
Seasonality is both a blessing and a curse for a small business. The blessing is that you have a great opportunity to capture the bulk of your annual revenues during the busy times. However, the prospect of one or more slack months in which revenue is punk but bills still have to be paid can
Seasonal Business? How to Prep for Your Slow Times Read More
Among the many responsibilities you have as a business owner is to keep up with the latest laws that affect your company. Each year seems to bring change, and keeping up to date can be difficult, which is why we’ve outlined everything for you in this article. Minimum Wage Laws There are 18 states that
2018’s New Employment Laws Business Owners Need to Know Read More
Managing your company’s finances is the most important part of running a business. Surprisingly, some business owners don’t know the first thing about organizing their finances. This is not only a problem because they can’t pinpoint exactly how much loss or profit they generate in a year, but for other, more serious concerns. Companies often
Finance 101: Keeping Your Business Finances Organized Read More
Giving back to the community is a wonderful thing, just on the face of it. It’s also a way for a small business to show its ties to the community, attract new customers and increase networking opportunities. Your marketing should see a boost when you enhance your reputation and brand recognition by publicizing your social
How My Business Can Give Back (While Still Being Financially Responsible) Read More
It’s not uncommon for business owners to consider their businesses as their retirement plans. At retirement age, the plan is to sell the business for cash, or to give the business to a family member in return for a share of future wealth. It might work out, but it’s risky, because if your business fails,
Retirement Planning for Small Business Owners Read More
If you are self-employed or the owner of a business, you should seriously consider getting a business credit card and use it exclusively for your business-related purchases. Picking the right card can save you time and money – let’s see why. Taxes: Your business expenses are tax-deductible. The easiest way to keep track of these
Reasons You Should Have a Business Credit Card Read More