Blog

Some business owners knew they wanted to pursue an entrepreneur career path from the get-go. They attended business school, have advanced degrees, and are very familiar with how business finance works. Other business owners are naturally savvy when it comes to finance. They have a great idea, product, or company, but are well-versed in the business world. Unfortunately, self-employment isn’t for the faint of heart and the learning curve isn’t very large. However, there are a few things...

Read More

You might be starting out on a new business venture or it might just be time to adjust your banking expectations. Either way, if you haven’t done some research, choosing the right bank account for your business can be, well, risky business. It’s important to make sure your bank and your business account are optimized for your specific needs. Here are some things to keep in mind: Find a bank that offers the services that are important to you and your business. Perhaps low minimum balances...

Read More

"The people who are crazy enough to think they can change the world are the ones who do." - Steve Jobs 70% of small businesses are owned and operated by a single person.1 Two-thirds of all present-day college students intend to become entrepreneurs at some point in their careers.2 It takes just 6 days to start a business in the U.S., compared to a whopping 38 days in China.3 There are 28 million small businesses in the U.S., which outnumber corporations 1162 to 1. 4 Small businesses...

Read More

The headline of the first article in the February IRS newsletter reads: Don't be victim to a 'ghost' tax return preparer. Wow! What next! The IRS is now warning taxpayers about unscrupulous tax preparers, known as ‘ghost’ tax return preparers. These individual preparers do not sign the return, instead they are instructing the taxpayer to sign themselves and mail to the IRS. These preparers are making some quick fees based on their aggressive write offs and generous refunds. By...

Read More

November and December are always busy months in the world of Commercial Equipment Financing. At the urging of their accountants, many of our customers rush to make last minute yearend equipment purchases. Why the big rush you may ask? Well, My Dear Watson, it comes down to the fact that they are running out of time to take advantage of the SECTION 179 TAX DEDUCTION. What is the Section 179 deduction? Most people think Section 179 is some complicated and mysterious tax code. Truth is, it is...

Read More

When I was in fourth grade my mother asked me to clean the refrigerator. The fridge was white and instead of just cleaning it, I decided to spray it with a can of white paint! It did not work so well. I remember my father telling my mother, “Well honey, it’s a good thing we have 10 kids. At least one of them should be able to take care of us when we retire!” Relying on your children to take care of you during your retirement years may not be the easiest solution to achieving...

Read More