Your Virtual Credit Manager

JANUARY 14, 2025

The United States has witnessed a significant surge in corporate bankruptcies, reaching a 14-year high in 2024. Business bankruptcy filings increased by 33.5% In contrast, customer bankruptcies or other defaults typically cause the loss of most, if not all, the AR owed. Even more concerning, the U.S.

Bad Debt 130

Bad Debt Bankruptcy Credit and Collections Accounts Receivable (AR) 130

Your Virtual Credit Manager

MARCH 21, 2023

In addition to the effect of inflation, AR loses value as a result of profit dilution (when customers do not pay you the full invoice value due to payment deductions or disputes) and bad debt losses. This ties into all the Covid startups and the lack of bankruptcies while stimulus funds were available.

Accounts Receivable (AR) 130

Accounts Receivable (AR) Bankruptcy Bad Debt Credit and Collections 130

Fundera

OCTOBER 23, 2019

A corporation is also eligible for more tax deductions and credits. In a sole proprietorship, there’s no legal separation between the business and the owner. The owner is personally responsible for the business’s debts. LLC vs. Sole Proprietorship: Legal Protection. On top of this, LLCs offer tax flexibility.

Bankruptcy 40

Bankruptcy Business Bankruptcy Default Credit and Collections 40

Fundera

JULY 24, 2019

If a key individual of the business unexpectedly passes away or becomes disabled and can’t work, the cost to the business can be even higher. Key person insurance gives you options in these circumstances, so you’re not forced to shut down or claim business bankruptcy. How Much Key Person Insurance Coverage Do You Need?

Insurance Companies 50

Insurance Companies Brokerages Deductions Small Businesses 50