Month: August 2020

Home Office Deduction: Business Tax Write-Off Breakdown

Post author By Fitz
Post date August 27, 2020

Home Office Deduction: What You Need to Know

It’s becoming more common for people to work from home. From freelancers to employees who work remotely, the convenience and cost-effectiveness of it is a big pull away from the traditional office. A large number of small businesses also start at home.

If you’re self-employed and among this group, you may be eligible for a home office tax deduction for your home office expenses. Many people are unsure of how to go about it or are afraid to apply, but a tax break can provide significant relief to cash flow and should be taken advantage of.

Here’s a simplified home office deduction guide for small businesses who are considering it.

Line of Credit

What is Revolving Credit? – Account Terms, Limits & Examples

Post author By Fitz
Post date August 18, 2020

Revolving Credit: What You Need to Know as a Small Business

When it comes to borrowing for your business, understanding the types of credit available to you is key to knowing which type to use in different financial situations. The two main types of credit are revolving credit and installment credit.

If you’re seeking a financial cushion for emergencies, or foresee a situation where your business will need to borrow money repeatedly in the near future, a revolving account from your bank may be what you need.

In this article, we go through how a revolving line of credit works and whether it is the right choice for your business.

Business Planning

Financial Calculators: The Best Free Personal Budget Tools

Post author By Fitz
Post date August 14, 2020

Useful Financial Calculators for Small Businesses

As a business owner, making money decisions for your business is a process often plagued with fear and indecision. Luckily, some financial calculators and tools can relieve some of the uncertainty.

Personal finance calculators and financial calculators are specialized tools that help with budgeting, loans, personal finance, and more. They can be used to compute values of investments, cash flow, and loan-related expenses such as interest rates.

A smart business owner knows the importance of planning, and using financial calculators helps one make strategic, informed decisions about money.

We’ve rounded up a list of essential free financial calculators that small businesses often need.

Business Loans

Small Business Installment Loans: What They Are | L3 Funding

Post author By Fitz
Post date August 6, 2020

Small Business Installment Loans: Growing Your Business One Installment at A Time

If you are running a small business, then various kinds of merchant funding are going to be important. You will need to pay for daily operational expenses, supplies inventory and even invest for future growth. In times of financial need, small business installment loans can provide a helpful solution to taking care of these many areas of business.