Fundera

SEPTEMBER 30, 2016

In most cases, business owners just aren’t aware of the many small business tax deductions out there. In other cases, they just aren’t keeping detailed records of their business expenses or don’t want to spend the time and effort itemizing expenses and crunching numbers. Buying and selling inventory. Advertising.

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Fundera

DECEMBER 25, 2018

Small business owners need all the help they can get when it comes to tax deductions. If you’re like most entrepreneurs, you log every expense all year long as a way to maximize your deductions. But, you may be overlooking an important deduction that you contribute to nearly every day— the miles you drive.

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Lendio

JANUARY 16, 2023

When it comes to taxes for small businesses , the questions often come fast and furious. Every small business has unique financial details, so there are no universal answers. For small business owners, filing tax returns can be a painful experience,” writes a small business tax expert for Forbe s.

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Due

MAY 10, 2023

Did you know that over 50% of small businesses fail in the first five years? In most cases, a lack of financial freedom is the main reason these businesses fail. Small business owners face various challenges in managing their finances, from bookkeeping and accounting to tax compliance and cash flow management.

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Lendio

NOVEMBER 1, 2023

There are many different kinds of small business loans, making it essential to do your research before beginning any application process. The 11 most popular types of small business loans The following information covers the common routes entrepreneurs take to get the capital they need.

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Eagle Business Credit

OCTOBER 16, 2023

Starting a small business can be an exciting venture filled with dreams of success and profitability. In this article, we will explore the essential relationship between working capital and profit, breaking down complex financial concepts into digestible bites for small business owners.

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Fundera

MAY 30, 2019

Many entrepreneurs feel overwhelmed by the thought of filing their small business taxes. If that’s how you feel, we don’t blame you since there’s a lot that goes into preparing your business for tax day. Here’s your step-by-step guide to everything you need to know about small business taxes.

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Fundera

MARCH 11, 2020

And then, there are freelancer tax deductions that you can take. What can you deduct and where do you deduct it? This guide walks you through some of the deductions you might qualify for, why they’re so valuable, and some tips for how to keep track of them. . What Are Freelancer Tax Deductions?

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GoCardless

JUNE 24, 2021

Is your business claiming all of the tax deductions it should be?

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Lendio

APRIL 20, 2023

Likewise, taxes can seem like a curse to business owners, adding pressure to the already slim margins of a small business. Small businesses of all types pay an estimated average effective tax rate of 19.8%,” says tax expert Jean Murray. Every relevant deduction reduces your taxable income so you will owe less.

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Lendio

DECEMBER 7, 2023

Running a small business often requires making savvy decisions about acquiring necessary equipment without overspending. One popular strategy among small business owners is equipment leasing, which allows you to use high-quality equipment without the financial burden of buying it outright. Benefits of equipment leasing.

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Fundera

APRIL 27, 2020

IRS Section 179 Deduction. The Section 179 deduction allows businesses to deduct the entire amount of an asset in the year it was purchased, rather than deducting a smaller amount over a number of years with the depreciation method. Under standard accounting rules, you’d use depreciation to take your deduction.

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Due

MARCH 24, 2024

Lasser’s 1001 Deductions and Tax Breaks” by Barbara Weltman This book is an excellent starting point for people not knowing much about taxes. Written by Barbara Weltman, an expert small business tax lawyer, this isn’t a simple list of what you can deduct. The author, Mark J. tax system.”

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incfile

FEBRUARY 13, 2023

For most small business owners, this time is all about finding ways to save money and maximize deductions. It’s almost tax time! It can all be a bit overwhelming, even if you’re savvy with numbers.

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Lendio

MARCH 31, 2023

Tax season can be stressful for accountants and small business owners. We will take a look at what you, as a small business owner, need to provide to your accountant for your business tax returns. They also include information on any deductions or contributions made to retirement plans or other employee benefits.

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Lendio

JANUARY 25, 2023

Running a small business comes with many challenges and responsibilities. Yet one of your most important duties as a small business owner is managing your company’s finances. Small Business Administration (SBA), 82% of failed small businesses go under due to cash flow problems.

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Fundera

DECEMBER 2, 2017

In the case of home office deductions, the Internal Revenue Service agrees—which is why you can use a simplified or regular method (Form 8829) to file home office deductions. But if you’ve got a bigger office, you could get a larger deduction using the regular method. Choice is a good thing. The Simplified Method.

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Fundera

MAY 14, 2020

IRS Form 8829 is one of two ways to claim a home office deduction on your business taxes. Only self-employed people are eligible to claim this deduction. If your business qualifies for the home office deduction, you’ll file Form 8829 with your Schedule C, profit or loss from business. IRS Form 8829.

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Fundera

FEBRUARY 13, 2017

Tax season is upon us—a time that can strike fear in the hearts of small business owners everywhere. But while there’s a wealth of information out there about tax deductions for business owners in general, when you run your business out of your home, it can be far more challenging to understand how some of those policies apply.

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Lendio

MARCH 14, 2023

But will business owners face higher tax bills this year, too? Says small business accountant James Kauffman , whether you’re a business or an individual, it’s adding up to a lot of the same. Most of the credits from the pandemic have expired,” Kauffmann indicates—and that goes for business owners, too.

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Fundera

OCTOBER 21, 2018

What Is a Home Office Deduction? Business owners who regularly operate their businesses in their home can deduct some of their expenses and save money on their taxes , granted they keep careful records and meet the IRS’s requirements. Can You Claim Home Office Deductions? Principal Place of Business.

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Due

OCTOBER 29, 2023

But ignoring retirement planning is a risky gamble that could leave you financially unprepared when you decide to transition out of your business. The key is leveraging your small business proactively to maximize your nest egg. Or will you still be chained to your small business, unable to leave without sinking into poverty?

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Small Businesses Brokerages Deductions 52

Fundera

JANUARY 7, 2019

Running your own small business comes with its own financial hurdles. More often than not, your business credit card ends up being your best bet to keep the ship floating. But that also means you’re likely to come up against business credit card fees, which can add up. Understanding How Business Credit Card Fees Work.

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Fundera

JUNE 11, 2018

If you’re a small business owner who’s taken out a loan to grow your business, you’re probably worried about paying off your business loan —especially with the interest on top. We have some good news for you: the interest on your business loan is tax deductible as a business expense. Well, mostly.

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Fundera

FEBRUARY 23, 2019

Top 11 Small Business Accounting Tips. Separate business and personal expenses. Track every business expense. There are no shortage of details to consider when you’re a small business owner. To keep moving toward your long-term goals and improve profits, follow these proven small business accounting tips.

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Fundera

FEBRUARY 23, 2019

Top 11 Small Business Accounting Tips. Separate business and personal expenses. Track every business expense. There are no shortage of details to consider when you’re a small business owner. To keep moving toward your long-term goals and improve profits, follow these proven small business accounting tips.

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Fundera

OCTOBER 12, 2016

Small business taxes… Does the thought of them just make you cringe? If you’re feeling overwhelmed by your small business taxes, we don’t blame you—there’s a lot that goes into preparing for Tax Day. Here’s your step-by-step guide to everything you need to know about small business taxes. A corporation?

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Your Virtual Credit Manager

JANUARY 9, 2024

We are currently offering 33 percent off our standard small business consulting rates. Please feel free to share this newsletter with your small business customers. The experts at Your Virtual Credit Manager are ready to help you improve cash flow and reduce AR risks during these challenging times.

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Credit and Collections AR Aging Accounts Receivable (AR) Deductions 130

incfile

MAY 22, 2023

The short answer is yes, but the process of getting a refund is dependent on a number of factors, including the type of business entity, the amount of taxes paid, and the types of tax deductions claimed.

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Your Virtual Credit Manager

DECEMBER 19, 2023

If they are the result of a payment deduction (partial payment), an issue requiring an administrative solution, not handling the matter inflates your AR. Anytime there is a payment deduction or a partial balance is left on an invoice, it should be a matter of policy to resolve the underlying issue within 30 days.

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Fundera

AUGUST 30, 2019

Payroll Deductions Definition. Payroll deductions are the specific amounts that you withhold from an employee’s paycheck each pay period. There are two types of deductions: voluntary deductions, like health insurance and 401(k) deductions, and mandatory deductions (or those required by law), like federal income taxes and FICA taxes.

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Fundera

JUNE 10, 2019

Taxes can weigh heavily on the mind of a small business owner. Local, state, and federal small business taxes can eat a big chunk out of your bottom line, and sometimes, it can feel like all your hard-earned profits are going to Uncle Sam. Most small businesses are aware of the importance of tax deductions.

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Small Businesses Deductions 65

Fundera

MARCH 17, 2019

From an accountant’s perspective, a small business owner’s taxes follow a pattern of calculating, reporting, and paying that repeats on a set schedule. With business income taxes, the schedule is often a series of quarterly estimated payments in combination with an annual business income tax return.

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Your Virtual Credit Manager

DECEMBER 20, 2022

Why not share this newsletter with your small business customers. Subscribe now Optimizing Deductions Processing Deductions (aka short pays or chargebacks) are taken when the customer believes the order was not fulfilled or billed properly. Remove the valid deductions from your AR ledger with minimal effort.

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Your Virtual Credit Manager

SEPTEMBER 13, 2022

Photo by Jp Valery on Unsplash Payment deductions, also known as chargebacks or short pays, happen when the customer pays less than the full invoice amount. Should you confirm that the customer is indeed correct, the deduction is removed from the Accounts Receivable (AR) ledger via a credit memo. Well, it’s not.

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Deductions Credit and Collections DSO Accounts Receivable (AR) 130

Your Virtual Credit Manager

JANUARY 17, 2023

Photo by Alex Radelich on Unsplash When small businesses add customers and increase sales, their company’s Accounts Receivable (AR) will grow. it just might help them pay you sooner! Share A Case in Point A parts distributor was having difficulty with collections and high dispute volumes.

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Fundera

OCTOBER 11, 2017

Following is the ultimate small business tax preparation checklist. If you use your personal vehicle for business, deducting the standard mileage rate on your tax return is usually more beneficial than paying for actual vehicle expenses throughout the year. Preparing for tax season doesn’t have to be daunting.

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