Running your small business isn’t cheap. And securing financing to run your business isn’t cheap, either. Taking out business loans can weigh you down with high interest rates. To help offset this expense, you might be able to claim a business loan interest tax deduction. Not all interest expenses are tax deductible. To claim this […]
Read More Claim the Business Loan Interest Tax Deduction to Decrease Your Tax Liability
Author:
Rachel Blakely-Gray
As Patriot's Content Manager, Rachel creates engaging and informative content aimed to help business owners understand complex accounting and payroll topics.
What Is the Best Business Structure for Small Business?
October 27, 2022Structuring your company is one of the first and most impactful decisions you will make when starting your business. But, deciding the best business structure for small business can be a challenge. Before you randomly pick a business structure out of a hat, get to know how each type of entity can affect your small […]
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6 Steps to Creating Your Credit Policy for Small Business
October 26, 2022Limiting your customers’ payment options can mean fewer sales for your business. In addition to accepting cash, checks, and credit cards, you may consider offering credit to customers. If you want to extend credit, create a credit policy for small business.
Read More 6 Steps to Creating Your Credit Policy for Small Business
Your Go-to Guide for Efficient and Effective Bad Debt Recovery
October 26, 2022When you offer credit to customers, you may need to write off unpaid receivables as bad debts. However, you could end up collecting debts you write off in your accounting books. If this happens, record the money as a bad debt recovery.
Read More Your Go-to Guide for Efficient and Effective Bad Debt Recovery
What Is a Statutory Nonemployee?
October 26, 2022You’ve heard of employees. You know about independent contractors. And by this point, you may be familiar with what is a statutory employee. But, what about a statutory nonemployee?
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Small Business Risk Management
October 26, 2022Starting a business venture is risky. You may make costly mistakes throughout your entrepreneurial journey. And, there are many things outside of your control that can affect your enterprise. Although you can’t always prevent threats, you can defend yourself through small business risk management.
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Offer in Compromise: Possible Solution for Business Owners Drowning in Tax Debt
October 26, 2022Not being able to pay your debts can be scary. And when your creditor is the IRS, you might be especially nervous about making ends meet. To alleviate some of your tax debt burden, consider applying for an offer in compromise.
Read More Offer in Compromise: Possible Solution for Business Owners Drowning in Tax Debt
9 Business Formulas Math Haters Can’t Ignore
October 26, 2022To keep your business in tip-top shape, you may need to do some things you dislike, including math. No, you don’t need to memorize a billion formulas or take a calculus class. But, you do need to familiarize yourself with essential business formulas.
Read More 9 Business Formulas Math Haters Can’t Ignore
Are You Thinking About Business Reorganization?
October 26, 2022In business, there are no guarantees. At some point, you may find your small business struggling to make ends meet or overburdened by debt. If you’re looking to increase your company’s bottom line, consider business reorganization. Some business owners panic when they think of bankruptcy organization. But before you stress out, remember two things. First, […]
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What Is the Product Life Cycle, and How Does it Impact Pricing Strategies?
October 26, 2022Part of being a small business owner is strategizing pricing, creating and marketing products or services, and paying attention to industry trends. If you sell goods, you need to know about the product life cycle.
Read More What Is the Product Life Cycle, and How Does it Impact Pricing Strategies?