Insights & Resources

Expert perspectives on SBA lending, business acquisitions, lending technology, and strategies for growth — from the team building the future of small business financing.

5 Proven Strategies to Reduce Your C-Corporation Tax Burden
Resources for Business Owners

5 Proven Strategies to Reduce Your C-Corporation Tax Burden

Corporate taxation, especially for C-corporations, is complex due to numerous rules and changing tax laws. C-corporations face double taxation—once at the corporate level and again on dividends to shareholders—making tax planning crucial. This article outlines five strategies to help C-corporations reduce tax liability and improve financial efficiency by focusing on deductions, credits, and optimizing their business structure.

Ann Diesta October 16, 2024
14 min read
S-Corporations 101: How to Lower Your Self-Employment Tax Burden
Resources for Business Owners

S-Corporations 101: How to Lower Your Self-Employment Tax Burden

Understanding S-Corporation taxes is crucial for freelancers looking to optimize their tax strategy. This blog breaks down the benefits of S-Corp election, including potential tax savings through self-employment tax reductions and pass-through taxation. It also provides essential insights on payroll requirements, filing deadlines, and common tax pitfalls to avoid. Whether you're considering an S-Corp election or looking to maximize its benefits, this guide offers practical advice to help freelancers make informed decisions and stay compliant with IRS regulations.

Ann Diesta October 7, 2024
17 min read
Navigating the Tax Maze: What W-2 and 1099 Workers Need to Know
Resources for Business Owners

Navigating the Tax Maze: What W-2 and 1099 Workers Need to Know

Understanding the distinction between W-2 employees and 1099 contractors is key for self-employed individuals navigating taxes and financial planning. W-2 employees have their taxes automatically managed by their employer, which includes deductions for Social Security and Medicare. On the other hand, 1099 contractors are responsible for managing their own taxes, including self-employment tax. This classification offers more independence but also requires keeping track of deductions, making estimated payments, and staying organized. For freelancers, leveraging tools like business bank accounts can help track finances and maximize deductions, making the process more manageable. This proactive approach can save time and stress during tax season, helping freelancers maintain control of their financial health.

Ann Diesta September 30, 2024
15 min read
Tax Credits vs. Deductions: What’s More Beneficial for the Self-Employed?
Resources for Business Owners

Tax Credits vs. Deductions: What’s More Beneficial for the Self-Employed?

Tax credits and deductions both help self-employed individuals reduce their tax liability, but they work differently. Tax credits directly lower the amount of tax owed, while deductions reduce taxable income, which decreases the overall tax. Understanding the distinction is crucial for maximizing savings. Tax credits, such as the Earned Income Tax Credit (EITC) or Small Business Health Care Tax Credit, offer significant savings but often have complex eligibility requirements. Deductions, on the other hand, allow self-employed individuals to write off business expenses like office supplies and home office costs. Proper documentation is essential to claim these benefits and ensure compliance with tax laws.

Ann Diesta September 23, 2024
13 min read
Child and Dependent Care Tax Credits: What Self-Employed Parents Need to Know
Resources for Business Owners

Child and Dependent Care Tax Credits: What Self-Employed Parents Need to Know

The Child and Dependent Care Tax Credit offers valuable financial relief to eligible taxpayers who incur childcare or dependent care expenses, enabling them to continue working or pursue education. For self-employed parents, this credit is especially crucial, as it helps offset the costs of childcare or after-school programs, allowing them to focus on running their businesses. By easing the financial burden of caregiving, the credit supports the professional and financial stability of self-employed individuals and their families.

Ann Diesta September 16, 2024
17 min read

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