Extending credit to customers is an important yet sometimes tricky issue for businesses. On the one hand, when you extend credit you can boost sales and acquire new customers. On the other hand, it can damage your cash flow if you don’t handle the process carefully. During the COVID-19 pandemic, the credit issue is especially relevant with so many customers asking for credit. Read more
The IRS has extended the tax deadline to July 15th. Personal and business income taxes that were due on April 15 can now be filed any time before July 15, 2020. The extended deadline applies to payments due as well. This post has been revised to include the new deadlines
When you run a business, filing taxes isn’t quite as simple as it is for employed individuals. There are multiple tax deadlines that you need to be aware of. If you don’t conform to tax deadlines for businesses it can end up costing you extra money later on. Let’s look at some of the most important dates to keep in mind for business taxes. Read more
If you’re researching ways to finance your business, you may have heard of merchant cash advances (MCA loans) as well as invoice factoring. Both are alternatives to traditional financing, such as bank loans, and easier to qualify for. Yet they differ in several important ways. Before you decide to do either invoice factoring or take out a merchant cash advance, you should understand some key differences.
The following is a comparison of these two types of financing to help clarify matters. Read more
If you’re looking into financing solutions for your business, you may be considering invoice factoring, a process that lets you collect payment on invoices immediately, so you don’t have to wait for clients to pay. Factoring has been around for quite a while but there’s still a shroud of mystery surrounding it, at least for those who haven’t researched it. One area of concern that some businesses have involves the way invoice factoring affects customers. Let’s explore some common concerns so you understand the process a little better. Read more
For a business that depends on invoice payments rather than cash purchases, late customer payment can be anything from an annoyance to a disaster. According to some estimates, as many as 60 percent of invoice payments are late. When you have regular expenses such as payroll to meet, this can cause serious problems for your cash flow situation. The following are some tips to protect yourself from late invoice payments and enjoy better cash flow.