Remove 2021 Remove Credit Scoring Remove Deductions
article thumbnail

Are Credit Card Fees Tax Deductible for Businesses?

CreditStrong for Business

Credit cards are powerful tools, and almost 70% of small businesses use them each month. 1 Understandably so, as they can help facilitate sales and purchases, separate personal and business funds, and build your business credit scores. Are Credit Card Fees Tax Deductible for Businesses?

article thumbnail

How to Get Your Credit Score From 750 to 800

CreditStrong for Business

An 800 credit score is perfect credit. You get the best mortgage rates, fast approvals, and qualify for the best credit cards and loans. Although it might sound difficult to get there, it’s easy to accomplish when you pay all of your bills on time, pay down debt, and make vigilant decisions on applying for new credit.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Is Your AR Generating All the Cash Flow It Should?

Your Virtual Credit Manager

YVCM was launched in 2021 and continues to grow. To make matters worse, invoice errors also tend to generate payment deductions (partial payments). Correcting invoices and reconciling payment deductions are essentially rework: work that is not necessary if you got it right the first time.

article thumbnail

Sole Proprietor vs. LLC vs. S-Corp

CreditStrong for Business

Your net earnings after allowable business deductions are subject to ordinary income tax rates, just like W-2 wages. For example, in 2021, C-Corps owe a flat 21% federal tax rate. Because the account is a secured installment loan, theres no credit score requirement. for Social Security tax, and 1.45% for Medicare tax.

Default 52
article thumbnail

How Gen Z Should Prepare Their Finances for 2023 and Beyond

Due

Credit score. It is also important to maintain a good credit score in order to maintain financial health. The debt-to-credit ratio can be influenced by many factors including debt payments, credit utilization, repayment history, credit mix, and credit history. Numbers vary by lender.

article thumbnail

Set Your Money on Autopilot: How to Save with Financial Automation

Due

Also, you’ll always be in good standing with your bills, protecting your credit score and preventing late fees. In fact, according to the Fed’s survey of 2022 Economic Well-Being of US Households , 37% of Americans lack the funds to cover a $400 emergency expense — up from 32% in 2021. Spend less, save more.

article thumbnail

How Long Do Late Payments Stay on Your Credit Report?—Everything You Need To Know

CreditStrong for Business

Unfortunately, regardless of the reason, they will affect your credit score. Still, you may be wondering—how long do late payments stay on your credit report? Still, you may be wondering—how long do late payments stay on your credit report? How Does a Late Payment Affect Your Credit?