Lendio

JUNE 6, 2023

If you had employees on the payroll during the COVID-19 pandemic, you could claim up to $26,000 in tax credits for each one, using the Employee Retention Credit (ERC). For the 2021 tax year, the threshold increased to 500 employees. million in tax credits that year. What are Qualified Wages For the Employee Retention Credit?

52

52

Fundera

APRIL 11, 2019

During an IRS audit, the auditor will check whether an individual or business has reported taxable income, losses, expenses, and deductions in compliance with federal tax laws. If the auditor finds a mistake, the individual or business might have to pay a tax penalty and interest. tax returns filed in 2016 were subject to an IRS audit.

Deductions 85

Deductions Small Businesses 85

Due

JANUARY 26, 2023

In today’s world, however, online financial services are almost universal. In fact, managing your assets is easier than ever thanks to virtual tax advisors and digital banks. In a sense, annuities are like life insurance because there’s a guaranteed payout and a premium to pay. The difference? How do they differ?

Insurance Companies 64

Insurance Companies Brokerages Default Transactions 64

Fundera

JANUARY 16, 2019

What Is a Schedule K-1 Tax Form? Owners of pass-through entities must file the Schedule K-1 tax form along with their personal tax return to report their share of business profits, losses, deductions, and credits. The IRS won’t accept your personal tax return if your Schedule K-1 isn’t included along with it.

Deductions 68

Deductions 68

Lendio

JUNE 6, 2023

There are three primary business structures you may want to consider: Sole proprietorship Partnership LLC/Corporation The disadvantage of being a sole proprietor or a partnership in determining your business credit is that business credit is closely tied to the personal credit standing of the owner or partners.

Credit Scoring 52

Credit Scoring Credit and Collections Bankruptcy Transactions 52

Abrigo

FEBRUARY 10, 2022

Since 2016, three serious document leaks have made international news and exposed the activity of powerful political elites or wealthy individuals who used shell companies to disguise the source of funds and avoid taxes. financial institutions can encounter in piercing the corporate veil through efforts to determine beneficial ownership.

Law Firms 78

Law Firms 78

Fundera

MARCH 31, 2017

The IRS tax code is complicated—many small businesses struggle to understand how their tax liability is determined. This guide breaks down the types of federal taxes your business may be subject to, how these taxes are applied to different types of business types, and the different rates applied to your business earnings.

Small Businesses 75

Small Businesses Deductions Transactions 75

Emagia

APRIL 13, 2023

Yes, accounts receivable are considered an asset on a company’s balance sheet. A resource that gives a corporation value is defined as an asset. Fixed assets are physical commodities that a corporation uses to supply products to clients to generate income. These assets allow the owner to have long-term financial profits.

Bad Debt 52

Bad Debt Credit and Collections Transactions 52

Gaviti

NOVEMBER 7, 2022

Managers feel this way even though the accounts receivable team directly impacts cash flow and the company’s ability to meet its financial obligations. Examples include calculating key performance indicators and meeting reporting requirements. Here’s Why These Finance Roles Still Matter. Let’s not do that.

DSO 52

DSO Credit and Collections Dashboards Cash Forecasting 52

Fundera

MAY 12, 2019

A profit and loss statement, also called an income statement, shows a business’s revenue, expenses, and net income over a specific period of time. It’s usually assessed quarterly and at the end of a business’s accounting year. Let’s explore the things you need to know to crack its code.

Small Businesses 86

Small Businesses 86

Due

MARCH 26, 2023

But let’s face it. Inflation and Retirement in the US Retirement is almost every employee’s goal. Although it’s the same as the legal retirement age, the increase has been noticeable. You will only have to contribute after-tax dollars to these investments.

Brokerages 80

Brokerages Deductions Credit Unions Transactions 80

Lendio

JANUARY 30, 2023

Now, even though the economic impacts of the pandemic have subsided, business owners like you can still take advantage of this tax credit. The ERC is a tax credit. This means, when applied, the ERC will reduce the total amount of taxes a business owes to the Internal Revenue Service (IRS). 50% of $10,000).

Deductions 52

Deductions Small Businesses 52

MNS Credit Management Group

AUGUST 31, 2022

Many businesses are unaware of what a business credit report is, how it operates, or how to use it to win contracts, establish your company’s creditworthiness, or lower costs related to interest rates and insurance premiums. Once a company is incorporated and has a federal tax identification number, its credit report is created.

Credit Scoring 52

Credit Scoring Credit Reporting Agencies Bankruptcy Credit Risk 52

Lendio

MARCH 18, 2024

State Share of employer businesses owned by women, 2021 Employment rate among women, 2022 Percent female-owned businesses with revenue $1M+ Percent change woman owned businesses 2012-2020 Percent patents filed by women Women’s VC funding per woman owned business Gini index Average Z score Washington 42% 59% 34% 8% 13% 2% 0.4742 0.29

Small Businesses 105

Small Businesses 105

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. And if this your first time filing your small business taxes, you probably have a lot of questions about how you go about it.

Small Businesses 88

Small Businesses Deductions Credit and Collections 88

NorthOne

JULY 11, 2023

When it comes to commercial electrical services, your target market may consist of small businesses, corporations, and industrial facilities. It’s important to strike a balance between competitive pricing and profitability. It’s also important to consider the quality standards of your business.

Transactions 52

Transactions Small Businesses 52

Lendio

MAY 23, 2023

Effective cash flow management is crucial for the financial health and stability of any entity, whether it’s a small business, a large corporation, or an individual. Cash flow management refers to the process of monitoring, analyzing, and optimizing the movement of cash into and out of a business’ or individual’s finances.

Chapter 11 52

Chapter 11 Chapter 7 Chapter 5 Small Businesses 52

Fundera

AUGUST 15, 2019

Fixed charge coverage ratio (FCCR) shows how well a business’s earnings cover its fixed charges—such as debt payments, lease payments, insurance premiums, and salaries—before interest and taxes are accounted for. Lenders work out this calculation because they don’t want to make a bad investment. Fixed Charges.

Deductions 49

Deductions Small Businesses 49

Fundera

NOVEMBER 10, 2020

Without one, a company could face major tax hassles , as well as other financial and legal difficulties. This legal agreement is most commonly used in the instances of sole proprietorships, closed corporations, and partnerships. Pay attention to taxes. In the case of partner death, their estate is legally obligated to sell.

Bankruptcy 116

Bankruptcy 116

CreditStrong for Business

JULY 15, 2022

It’s not impossible, however, provided the company uses these established methods of building commercial credit. Usually, for small businesses, this is an S-corporation or LLC that is taxed as an S-Corp. Usually, for small businesses, this is an S-corporation or LLC that is taxed as an S-Corp.

Credit Scoring 52

Credit Scoring Credit Unions Small Businesses Credit Risk 52

Fundera

OCTOBER 9, 2019

IRS Form 8941 is submitted by small business owners to claim the small business health care tax credit. When it comes to small business taxes , the only thing small business owners enjoy more than tax deductions is tax credits. 35% of premiums paid for small tax-exempt employers. What Is IRS Form 8941?

Small Businesses 40

Small Businesses Deductions 40

Fundera

JULY 29, 2016

The term “tax deadline” might send a shiver up some business owners’ backs… But it shouldn’t. We’ll take a look at 7 essential dates to save in your calendar, so that you can keep your financials organized during the fiscal year and save yourself from any unpleasant surprises come tax time. Tax Deadline Extension.

Deductions 75

Deductions Bad Debt 75

Fundera

OCTOBER 8, 2018

What Is the Schedule K-1 Tax Form? Owners of pass-through entities must file the Schedule K-1 tax form along with their personal tax return to report their share of business profits, losses, deductions, and credits. The IRS won’t accept your personal tax return if your Schedule K-1 isn’t included along with it.

Deductions 40

Deductions 40

Due

APRIL 20, 2023

In the case of simple interest, your initial principal is considered a constant base for calculating the interest for every year on a lateral basis. So, if you invest $10,000 at just 5% compound interest calculated annually for 30 years, it would acquire over $30,000 as compound interest, and your account would be worth more than $40,000.

Brokerages 105

Brokerages Credit Unions 105

Fundera

JANUARY 23, 2019

One of the most confusing aspects of tax time for business owners is knowing which tax forms they need to file. Even if you engage an accountant to prepare your tax return—and we strongly recommend you do—as a business owner and taxpayer you still need to know which forms are required. What Is Form 1120S? How to File Form 1120S.

Deductions 52

Deductions Small Businesses 52

Fundera

APRIL 4, 2020

Paying business taxes as an independent contractor can be tricky—you have to file additional forms, make sure you’re paying the government enough during the year, and pay a self-employment tax. . This complete guide walks you through what independent contractor taxes you’re responsible for, as well as how you pay, deadlines and more.

Deductions 52

Deductions Small Businesses 52

Fundera

FEBRUARY 23, 2019

Follow up on invoices and receivables to avoid overpaying on taxes. But, as your company grows and tax time approaches, you might feel a little big lost. Fees for incorrect tax filing or messy bookkeeping can be high, not to mention the time you spend in correcting errors. Dedicate time to update your books. Track Every Expense.

Small Businesses 111

Small Businesses Deductions 111

Fundera

AUGUST 20, 2020

BizFilings offers services to help business owners form an LLC, corporation, nonprofit, register a DBA name, or select or change their registered agent. BizFilings can also help with 501(c)(3) tax-exempt filing services. C-Corporation. This is a standard corporation and the most common corporate structure.

Nonprofit Organizations 40

Nonprofit Organizations Small Businesses 40

Fundera

FEBRUARY 23, 2019

Follow up on invoices and receivables to avoid overpaying on taxes. But, as your company grows and tax time approaches, you might feel a little big lost. Fees for incorrect tax filing or messy bookkeeping can be high, not to mention the time you spend in correcting errors. Dedicate time to update your books. Track Every Expense.

Small Businesses 109

Small Businesses Deductions 109

Fundera

MARCH 17, 2020

Small Business Health Care Tax Credit. The small business health care tax credit is available to small businesses to help offset the cost of health care premiums they pay for their employees. To claim this credit, you will file Form 8941 with your business tax return. What Is the Small Business Health Care Tax Credit?

Small Businesses 40

Small Businesses Deductions 40

Fundera

JULY 25, 2017

At its core, an audit is simply a “second look” by the IRS on a business’ tax return. This is similar to a quality control measure in your business: Just as you can’t check every product your business manufactures or screen every interaction your team has with a client, the IRS can’t thoroughly examine every tax return submitted.

Small Businesses 79

Small Businesses Deductions 79

Fundera

AUGUST 15, 2019

When you think of “annual reports,” you probably think of the detailed documents that large, publicly held corporations issue to shareholders or potential investors. The data from these annual reports is often used to calculate your state franchise tax. Annual reports are called different things in different states.

Small Businesses 40

Small Businesses 40

Fundera

OCTOBER 19, 2015

In addition to all of these factors, the bank loan officer will calculate your fixed charge coverage ratio, also known as the FCCR. The fixed charge coverage ratio may be called times interest earned; however, it is calculated the same way. You can also ask your lender what other ratios they use and calculate those as well.

Deductions 84

Deductions Small Businesses 84

Fundera

JUNE 22, 2019

A Keogh plan is a tax-deferred retirement plan for self-employed individuals, non-corporate small businesses, and their employees. For example, only a corporation can establish and administer an employer 401(k) plan or 403(b) plan, and conventional pensions aren’t available to self-employed individuals.

Deductions 62

Deductions Medical Billing Law Firms Small Businesses 62

Fundera

MAY 7, 2019

Is There a Downside to Receiving a Tax Refund? Business owners should avoid receiving a large tax refund if they would rather have that money on hand to reinvest in their business. Getting a big tax refund from the government each year has its pros and cons. And how will this decision affect your business’s finances?

Deductions 45

Deductions Small Businesses 45

Fundera

JUNE 8, 2019

Small business owners can incorporate a business on Incfile, hire a registered agent, file business taxes, and much more. Incfile is an online legal services company that lets small business owners form business entities , file compliance documents, and file taxes. You can also elect S-corporation tax status through Incfile.

Law Firms 40

Law Firms Small Businesses 40

Fundera

NOVEMBER 29, 2019

ADP TotalSource caters to small to midsize businesses (from 1 to 1,000 employees) seeking corporate-caliber benefits, expert guidance, intuitive tech, and integrated HR services from one of the leading names in payroll services. TriNet also handles payroll tax withholdings and filings, as well as managing unemployment taxes and claims.

Small Businesses 97

Small Businesses Credit and Collections 97