Patriot Software Blog

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PPP Loan Forgiveness: How to Get Your PPP Loan Forgiven

Posted on August 11, 2020August 11, 2020 by Rachel Blakely-Gray

On August 10, the SBA opened its PPP forgiveness portal to lenders. However, many lenders are waiting to send applications to the SBA due to ongoing legislation talks in Congress. Consult your lender for more information.

With loan forgiveness on the line, you probably didn’t apply for a Paycheck Protection Program (PPP) loan for the low-interest rate of 1%. So, you got the loan. Now, you want to know how to get your PPP loan forgiveness. Continue reading “PPP Loan Forgiveness: How to Get Your PPP Loan Forgiven”

Want a Contact-free Way to Bill Customers? Consider E-invoicing

Posted on August 11, 2020August 11, 2020 by Rachel Blakely-Gray

Does your invoicing process look a little something like this? Print, fold, stick paper in envelope, seal, add stamp, add addresses, mail, and repeat. If you’re cringing at the thought of having to mail off one more invoice to your customers, you might consider e-invoicing. Continue reading “Want a Contact-free Way to Bill Customers? Consider E-invoicing”

Calculating Overtime When Your Employee Works a Fluctuating Workweek

Posted on August 10, 2020August 10, 2020 by Rachel Blakely-Gray

You’re likely familiar with the Fair Labor and Standards Act’s (FLSA’s) rules on overtime pay. But when you have employees who work varying schedules, you might be able to calculate overtime using the fluctuating workweek method. Continue reading “Calculating Overtime When Your Employee Works a Fluctuating Workweek”

Do You Know the Difference Between a Business Name vs. Trade Name?

Posted on August 6, 2020August 11, 2020 by Amanda Cameron

One of the first things you do as a business owner is choose a business name. Your business can operate under your legal business name. Or, you can operate your company under a trade name. So, what’s the difference? Read on to learn more about business name vs. trade name and how they contrast.

Continue reading “Do You Know the Difference Between a Business Name vs. Trade Name?”

How to Correct a W-2 Form If You Make a Mistake

Posted on August 5, 2020August 5, 2020 by Mike Kappel

Let’s face it: everybody makes mistakes. So, if you make a mistake on an employee’s Form W-2, don’t panic. Instead, learn how to correct a W-2 form and take action. Continue reading “How to Correct a W-2 Form If You Make a Mistake”

5 Common Business Budget Mistakes That Can Throw Your Whole Year Out of Whack

Posted on August 4, 2020August 4, 2020 by Rachel Blakely-Gray

A budget can act as a little roadmap to guide your business through the year. It can help you avoid overspending, make educated financial decisions, and stay organized. But if you aren’t careful, you could wind up making budget mistakes that negate all of these benefits. Continue reading “5 Common Business Budget Mistakes That Can Throw Your Whole Year Out of Whack”

5 Steps for Changing Insurance Plans at Your Small Business

Posted on August 3, 2020August 3, 2020 by Maria Tanski-Phillips

Changing insurance plans can seem like a major hassle for your entire company, especially your employees. But, it doesn’t have to be. Maybe you want to switch plans because your current one is too costly. Or, maybe you have no choice but to switch. Whatever the case may be, changing health insurance plans can be painless if you take the right steps.

Continue reading “5 Steps for Changing Insurance Plans at Your Small Business”

What Are the Pros and Cons of a Sole Proprietorship?

Posted on July 30, 2020July 30, 2020 by Mike Kappel

A sole proprietorship is the most common type of business structure. A whopping 73% of businesses in the U.S. are sole proprietorships. If you’re considering starting your own venture and forming a sole proprietorship, weigh the pros and cons of a sole proprietorship before making a decision.

Continue reading “What Are the Pros and Cons of a Sole Proprietorship?”

How to Calculate Local Income Tax in 6 Simple Steps

Posted on July 29, 2020July 29, 2020 by Michele Bossart

As an employer, you’re responsible for withholding certain taxes from employees’ wages. One of the taxes you may need to withhold is local income tax. Read on to get the scoop on this tax, and learn how to calculate local income tax.

Continue reading “How to Calculate Local Income Tax in 6 Simple Steps”

What Is a Private Letter Ruling from the IRS?

Posted on July 28, 2020July 28, 2020 by Michele Bossart

Do you have questions about your tax situation that nobody can seem to answer? If so, you may need a private letter ruling from the IRS. What exactly is it, and how do you get it? Continue reading “What Is a Private Letter Ruling from the IRS?”