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.

Default 75

Default Deductions Small Businesses 75

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.

Transactions 60

Transactions 60

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.

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GoCardless

MAY 19, 2019

We asked 400 borrowers who have taken out at least one personal loan within the last two years about a number of key aspects of their repayment experience, including preferred payment methods, important features and common reasons for missing a repayment.

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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?).

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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.

Transactions 70

Transactions Credit Card Payments Credit and Collections Small Businesses 70

Fundera

MAY 21, 2019

Starting or growing a small business can be daunting, especially in terms of affordable access to capital. Without sufficient capital, small businesses often have to close down prematurely or slow down operations. To date, Fundera has helped thousands of small businesses grow, facilitating over $1 billion in funding. Fundera connects small business owners with loans from alternative lenders, SBA lenders, and banks.

Small Businesses 58

Small Businesses Credit Scoring Medical Billing Law Firms 58

Fundera

MAY 23, 2019

Generally accepted accounting principles—or GAAP (pronounced “gap”) for short—might not be at the front of your mind when you are running your business. After all, you have a lot to do, and you hired an accountant so you wouldn’t have to concern yourself with the nitty-gritty of your business’s accounting. Right? . Well, theoretically, yes. But knowing GAAP accounting principles—or at least the gist of them—will help you understand why your accountant does the things they do.

Revenue Recognition 55

Revenue Recognition Transactions Small Businesses 55

Fundera

MAY 18, 2019

W-2 and W-4 Form Differences. Although both federally required IRS tax forms, the W-2 vs. W-4 are inherently different. The W-4 informs employers of the appropriate tax withholding amount to be taken from an employee’s paycheck. The W-2, on the other hand, is a report generated by an employer that details an employee’s earnings and tax withholdings for the given tax year.

Deductions 49

Deductions Small Businesses 49

Fundera

MAY 24, 2019

Bank of America Merchant Services Review. Bank of America Merchant Services is a separate business from Bank of America that sells merchant services products to small business owners. It is a subsidiary of First Data, a larger merchant services provider. Among the Bank of America Merchant Services options are payment gateways, point of sale systems, and check acceptance services.

Transactions 40

Transactions Small Businesses Credit Card Payments 40

Fundera

MAY 24, 2019

When you own and manage your own business, the goal is for everything to run as smoothly as possible. Although that’s not always the case, it can be nice to get some extra help in that direction. The right business checking account can be just the thing. For starters, a checking account keeps your money safe and insured. It also keeps it conveniently accessible for you whether through a debit card, checks, or online payments.

Small Businesses 40

Small Businesses Credit and Collections Transactions Insurance Companies 40

Fundera

MAY 22, 2019

Ready to commit to a business bank account ? You might be feeling slightly overwhelmed by the number of choices on the market. Fortunately for you, we can walk you through the three business checking options from Fulton Bank. We’ll cover the features of each account and describe some comparable accounts from other banks, too. Let’s dive in. The Fulton Bank Business Checking Accounts, Reviewed.

Credit and Collections 40

Credit and Collections Transactions Small Businesses 40

Fundera

MAY 22, 2019

When you’re beginning your small business, you may not pay a lot of mind to merchant services —aka how you’ll be processing payments. But, as you build out, you may want to consider adding options for credit card payments by looking into an independent sales organization, which can help you accept credit card payments and create a credit card of your own.

Credit Card Payments 40

Credit Card Payments Small Businesses Transactions Credit Scoring 40

Fundera

MAY 22, 2019

What Is Form 944? Form 944 is an IRS tax form that eligible small businesses file on an annual basis to report federal income taxes, social security taxes, and Medicare taxes that have been withheld from employee paychecks. IRS Form 944 is also used to evaluate your business’s employment tax liability for the year. Form 944 is an alternative to Form 941, designed to accommodate smaller businesses with lower employment tax liabilities.

Electronic Funds Transfer 40

Electronic Funds Transfer Deductions Small Businesses Transactions 40

Fundera

MAY 21, 2019

If you want your business to be able to accept credit cards—whether in person or online—you’ll need to work with a merchant service provider. These third parties can provide you not only with the capability to accept credit cards, but hopefully a variety of different payment methods in a capacity that meets your business’s needs. If you’re trying to decide which payment processing company is right for you, however, you may be overwhelmed by the vast array of options and therefore are considering

Credit Card Payments 40

Credit Card Payments Transactions Payment Portals Small Businesses 40

Fundera

MAY 21, 2019

Small business owners rarely get a chance to automate some of the more time-draining tasks that end up on their to-do list. If you oversee the human resources responsibilities of your company, the tasks that come along with this job can often be a full-time job alongside your other obligations. But, on the other hand, hiring an HR manager can be pricey—particularly if you’re working on a small budget.

Small Businesses 40

Small Businesses 40

Fundera

MAY 20, 2019

Sure, we live in an age during which some big corporations own a large slice of the pharmacy space. Still, many customers prefer working with local operations instead, whether that’s due to more personalized service or simply better geographical convenience. If you’re a local druggist who is looking to expand, or maybe hoping to get into the business, you may be looking for a pharmacy business loan.

Small Businesses 40

Small Businesses Credit Scoring Default 40

Fundera

MAY 20, 2019

If you’re planning to sell your business’s products online, you’re going to need to decide how you’ll accept credit card payments. Choosing a payment processor, in fact, will determine a significant amount about how your ecommerce store operates—including what kind of payments you can accept, how your business will receive funds, and what additional payment tools (if any) you receive.

Dashboards 40

Dashboards Transactions Credit Card Payments Credit and Collections 40

Fundera

MAY 19, 2019

QuickBooks POS Review. QuickBooks POS allows QuickBooks customers to run transactions and manage back-office operations. To use the software you must pay a one-time lump sum. Your hardware cost is an additional one-time lump sum. To process payments for QuickBooks POS, you must sign up for QuickBooks merchant services. Most of the small business world is well-acquainted with Intuit’s QuickBooks accounting software —but did you know there is a QuickBooks POS solution as well?

Transactions 40

Transactions Credit Card Payments Small Businesses 40

Fundera

MAY 19, 2019

Taxes are perhaps one of the most difficult and complex responsibilities involved with owning a business. There are a variety of different forms to complete—each with specific requirements and deadlines to adhere to. This being said, if your business deals in goods and services that are subject to excise tax—like air transportation, fishing equipment, or gasoline—then you’ll have to complete IRS Form 720.

Electronic Funds Transfer 40

Electronic Funds Transfer 40

Fundera

MAY 18, 2019

Intuit Merchant Services Review. Intuit merchant services features a combination of payment processing, POS software, and POS hardware. Each service is sold separately, and the products you can use vary depending on which version of QuickBooks you are using (Online vs. Desktop). Intuit merchant services fly a bit under the radar. Sure, every small business owner knows of Intuit thanks to their nearly ubiquitous accounting software, QuickBooks.

Transactions 40

Transactions Small Businesses 40