Building business credit is one of the greatest opportunities for small business owners. It provides our business with the ability to obtain financing for unforeseen expenses, operations, expansion costs and investments.There’s so much going on with corporate credit that there are several different fields devoted to servicing it, including business credit cards, small business loans, [...]
Nowadays, no business, big, small or in between, gives a second thought about doing banking online. What used to take hours and days of entering and posting into cumbersome ledgers can be done in a tenth of the time, with a lot less staff. Tedious numerical tasks and manual payroll reconciliations have long gone, replaced [...]
Running a home based business reaps many wonderful tax deductions that other businesses some times may not claim. Unfortunately to many small business owners end up paying the government taxes every year because they are unaware or several small business deductions that are available.Most of the time any expenses that are related to your business [...]
Business insurance is vital for a new business. If you are in the planning stages for starting a new business, you’ll need to plan for your insurance coverage. You likely already have insurance for your home and automobile. But the insurance needs for a business are somewhat different and you must address all of your [...]
A business bank account needs facilities and features that are different than those of a personal bank account. Therefore, stop and think before you open a business bank account with the bank where you have a personal account. You need to research the business banking facilities of more than one bank before you select the [...]
Owning a small business can give you an edge at income tax time, if you are armed with as much information about business tax credits and deductions as you can.Since small business owners are three times more likely to be audited by the IRS than a non-owner, it is very important to have accurate information, [...]
I’ve been teaching business credit tactics to my friends and students that need start up supplies and money for a few years, and it can really help to grow your business if used wisely.Some of you may have seen the scam courses on TV at 3am on business credit, offering to teach you how to [...]
Effective January 1, 2008, the Single Business Tax as we have known it for 30+ years is no longer the business tax for Michigan. The Single Business Tax was often criticized for taxing compensation. The MBT no longer requires this “add-back” of compensation.The legislature enacted the Michigan Business Tax (MBT) in the summer of 2007. [...]
