Fundera
MAY 30, 2019
Many entrepreneurs feel overwhelmed by the thought of filing their small business taxes. If that’s how you feel, we don’t blame you since there’s a lot that goes into preparing your business for tax day. Even before the deadline for actually filing your tax return, there’s a lot of tax prep that you should ideally be doing throughout the year.
Abrigo
MAY 31, 2019
Last week, Sen. Thom Tillis (R-NC) introduced a bill, S. 1564 , calling for a delay in the implementation of the Financial Accounting Standards Board’s current expected credit loss (CECL) standard. The bill would delay CECL until a “quantitative impact study can be completed to understand its likely effects it will have on the economy.” While FASB pushed back the effective date for non-public business entities (PBEs) in October 2018, from fiscal years beginning after 12/15/2020 to 12/15/2021, FA
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GoCardless
MAY 30, 2019
Key takeaways and expert insight from Merchant Risk Council 2019.
Midwest Corporate Credit
MAY 29, 2019
What are the most important lines on your business tax returns when you're seeking large amounts of business financing? Source.
Speaker: Susan Richards
Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.
Wellen Business Credit
MAY 28, 2019
Cashless payments are emerging in all areas of global commerce because of their safety and convenience. These cashless payments reduce the risk of cash handling and are compatible with several systems that make global transactions possible and traceable. They can take on several forms, from “primitive” credit and debit cards, and online transfers, to more technologically-forward mobile apps, mobile wallets, contactless cards, and RFID (among others).
Credit Management Source brings together the best content for credit management professionals from the widest variety of industry thought leaders.
Fundera
MAY 7, 2019
What Is Inland Marine Insurance? Inland marine insurance covers business property that moves over land or that’s stored away from business premises. You can also use it to cover certain specialized items that traditional property insurance won’t cover. Most small business owners have all their property where their company is located. For example, the inventory that you store at your shop, the supplies at your back office, and the equipment at your warehouse.
Abrigo
MAY 30, 2019
Whether you know a little or a lot about BSA/AML software automation, there are a few key elements to consider. First of all, what are the system’s capabilities? Second, what are some indicators of software that gets the job done? Many Compliance Officers and examiners agree that automation makes your BSA program more efficient. But it’s important to know what you’re looking for.
GoCardless
MAY 28, 2019
Learn from the leaders of Monzo, Wise, Funding Circle and more, with over 30 pieces of advice for scaling your fintech.
Midwest Corporate Credit
MAY 21, 2019
We have another success story from a client who came to us just two years ago, he was able to increase his credit limit from $40,000 to $300,000. Source.
Fundera
MAY 12, 2019
What Is a Profit and Loss Statement? 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. Business owners use profit and loss statements to determine whether they should improve the bottom line by increasing revenues, cutting costs, or both.
Fundera
MAY 7, 2019
How to Sell on eBay: 5 Essential Steps. Choose between a personal and a business eBay account. If you’re using eBay to sell for your business, you’ll want to choose the latter. Register for an eBay business account. Fill out your basic business information using eBay’s online form and have access to your account in minutes. Set up your account preferences.
Fundera
MAY 4, 2019
Managing inventory is a key component of growing any business, but all too often, this ultra-important task is pushed to the side. Many business owners know the importance of a solid inventory strategy, but don’t know how to plan and jumpstart this vital process. Learning how to manage an inventory for the first time can be overwhelming, confusing, and time-consuming.
Fundera
MAY 8, 2019
The U.S. Census Bureau has announced that Hispanics now represent the most rapidly growing segment of the country’s economy. According to the U.S. Hispanic Chamber of Commerce, Latino-owned businesses have grown 31.6% since 2012, more than double the growth of all American businesses. With small business loans for Hispanics, as well as other economic opportunities, these business owners are getting more tools they need to run their businesses.
Fundera
MAY 24, 2019
LLC vs. S-Corp: What’s the Difference? By default, a single-member limited liability company (LLC) is taxed like a sole proprietorship, and a multi-member LLC is taxed like a partnership. However, LLC owners can choose to be taxed as an S-corp. By doing so, business owners can often reduce their self-employment taxes. When starting a small business, many entrepreneurs end up deciding between two types of business entities —LLC vs.
Fundera
MAY 9, 2019
The 6 Best Veterinary Business Loans. Conventional Bank Loans. SBA 7(a) Loans. Online Short-Term Loan. Business Line of Credit. Equipment Financing. Business Credit Card. As a veterinary practice owner, you’re more than a doctor—you’re a small business owner, too. Although your primary concern will always be caring for animals, it makes sense to be concerned about your practice’s finances.
Fundera
MAY 17, 2019
How to Print Checks in QuickBooks. From the homepage, click the “Quick Create” icon (the + sign), select “Vendors,” and then “Check.” Fill out the check fields with the appropriate information, including the amount. Select the correct accounts to credit and debit. From there, click “Quick Create” > “Vendors” > “Print Check” to print your check.
Fundera
MAY 31, 2019
Square vs. PayPal. When comparing Square vs. PayPal, each offers several product options to consider including point of sale systems, online processing, invoicing, and more. Ultimately, although Square and PayPal can provide your business with similar functionalities at a comparable cost, Square is better for brick and mortar businesses who need a robust point of sale system, while PayPal is preferable for solely online-based businesses.
Fundera
MAY 20, 2019
In the face of increased competition across most industries, it can seem difficult for companies to stay afloat. We’re probably all familiar with the story of startups emerging seemingly out of nowhere and either taking a slew of customers away from large, established companies or at the most extreme, putting incumbents out of business (what’s a BlockBuster?).
Fundera
MAY 2, 2019
What Are Credit Card Processing Fees? At the most basic level, credit card processing fees are the cost that a business owner pays to accept credit card payments. However, there are several pieces involved in determining this overall cost, including transaction fees, flat fees, and incidental fees. Generally, the average credit card processing fees range from 1.7% to 3.5% per transaction.
Fundera
MAY 27, 2019
Expenses aren’t as fun to think about as sales, but they are an essential part of your business. Even if you are the sole proprietor of and only worker in a service-based business, you will still have business expenses. Unlike a W-2 employee who gets to keep their entire salary—less taxes, of course—you won’t be able to keep every dollar you earn in your business.
Fundera
MAY 16, 2019
LinkedIn, as the world’s most popular professional networking site, has quickly become an indispensable tool for recruiters and job seekers alike. If you’re looking to boost your career, chances are that you’re already using the platform. But is your profile as well-optimized as it can be to attract the right kind of attention, or are you neglecting to make some easy changes?
Fundera
MAY 23, 2019
What Is a Point of Sale System? A point of sale (POS) is a combination of software and hardware that a business owner needs to run transactions. The software typically encompasses a myriad of functions, including payment processing and staff, customer, and inventory management. The POS hardware includes an internet-enabled device that can run the POS software, plus transaction tools like a receipt printer and a cash drawer.
Fundera
MAY 3, 2019
Business Credit vs. Personal Credit. Business credit is based on your business’s financial history and is tied to your business’s EIN number. Personal credit, on the other hand, is based on your personal spending history and is tied to your social security number. Because these two types of credit are distinct, your business credit score is also separate from your personal credit score and is calculated using different factors—even though each is essentially a numerical evaluation of
Fundera
MAY 23, 2019
More U.S. workers are quitting their jobs than ever before, according to numbers from the Bureau of Labor Statistics. Over 2% of the total working population (some 3.5 million people) voluntarily resigned from their jobs in October 2018 alone. With turnover rates increasing every year, businesses everywhere are being affected by the loss of top-performing employees.
Fundera
MAY 1, 2019
As a small business owner, you’ve probably had some hands in your business accounting, which means you’ve more than likely heard of QuickBooks. One of the most well-known accounting software on the market, QuickBooks services business owners in many different ways. In addition to their robust accounting solutions, QuickBooks also offers payroll services.
Fundera
MAY 2, 2019
What Is Cyber Liability Insurance? Cyber liability insurance covers the cost for a business to recover from a data breach, virus, or other cyberattack. It also covers legal claims resulting from the breach. Any business that stores sensitive data in the cloud or on an electronic device should have cyber liability insurance. According to the Identity Theft Resource Center, businesses experienced 571 breaches in 2018, exposing over 415 million employee and customer records.
Fundera
MAY 15, 2019
Matthew Gedz’s iPhone kept dying on him. As a proprietary trader, Gedz used his phone when he was not in the office to invest and trade remotely. If his phone died, he couldn’t earn any money. What he needed was a way to keep his phone charged all day long without having to plug it in somewhere. While researching a solution to this issue, Gedz became familiar with a product that was just gaining traction in the market—iPhone cases that doubled as phone chargers.
Fundera
MAY 13, 2019
Best Free Payroll Software for Small Business. Payroll4Free can perform all essential payroll functions and is entirely free for businesses under 25 employees. HR.my provides some basic payroll functions and can accommodate an unlimited number of employees. Wave Payroll also provides customers with an accounting, invoicing, and expense management platform, but you will have to pay a small monthly fee to use it.
Fundera
MAY 26, 2019
1099 Form Definition. The 1099 form actually refers to a series of IRS tax forms that are used for reporting income other than the salary an individual makes as an employee. Specifically, the 1099-MISC form is the version of the IRS form 1099 that reports “miscellaneous income.” As a business owner, you’re responsible for completing 1099-MISC forms for any independent contractors you’ve worked with in the given tax year.
Fundera
MAY 13, 2019
Our personalities play a major role in dictating how we behave and interact with others. They also contribute to the way we resolve conflict and negotiate. As a small business owner, you’ll likely have to negotiate for your company and as you grow, you may find yourself wading into international waters where negotiation styles may differ. Whether you hope to find a great new product for your company or want to get the best manufacturing deal possible, communicating with people in different cultu
Abrigo
MAY 30, 2019
Taking the first step into automating your BSA program can be daunting. Helping hundreds of institution through this process has helped our team put together a few questions to help you navigate this journey. Can you check the box on your BSA software? 1. Am I doing too much manually? With the increasing expectations of BSA, a highly manual process can fall short.
Abrigo
MAY 29, 2019
For some people, going on vacation is a necessary break. For BSA professionals, it can be nothing but major stress. The compliance department is already one of the most understaffed areas of the institution and when staff turnover occurs or an employee goes on vacation or family leave, it can be cause for panic. What about seasonality with your alerts?
Abrigo
MAY 22, 2019
The U.S. Department of the Treasury recently published A Framework for OFAC Compliance Commitments to provide financial institutions and other organizations with OFAC’s perspective on the essential components of a sanctions program. Andrea M. Gacki, Director of the Office of Foreign Assets Control, stated that “OFAC developed this framework in our continuing effort to strengthen sanctions compliance practices across the board.
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