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.

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
5 Misconceptions About the Self-Employed Tax Credit (SETC)
Resources for Business Owners

5 Misconceptions About the Self-Employed Tax Credit (SETC)

The Self-Employment Tax Credit (SETC) offers financial relief to self-employed individuals affected by the COVID-19 pandemic, helping offset lost income due to illness, caregiving, or business disruptions. Eligibility depends on the number of impacted days and average daily self-employment income. Understanding the SETC's requirements is key to maximizing its benefits and reducing your tax burden, while avoiding common misconceptions that may limit its use.

Ann Diesta September 10, 2024
9 min read
Your Complete Guide: Getting a Loan Online For Your Small Business
Resources for Business Owners

Your Complete Guide: Getting a Loan Online For Your Small Business

In the digital era, online lending platforms offer small businesses a swift and convenient route to securing loans, bypassing traditional bank hurdles. They facilitate quick approvals, often within hours, and streamlined processes, reducing paperwork. Online platforms provide access to multiple lenders, fostering competition for better terms. Key steps include assessing needs, researching lenders, preparing documents, completing applications, reviewing offers, and accepting loans. Maintaining a good credit score and accurate information enhances approval chances. Overall, online lending simplifies access to funds, aiding business growth and success.

Ann Diesta September 4, 2024
6 min read
Mastering Self-Employment Taxes: A Freelancer’s Guide to Smarter Financial Management
Resources for Business Owners

Mastering Self-Employment Taxes: A Freelancer’s Guide to Smarter Financial Management

For self-employed individuals, managing taxes can be tricky. Unlike traditional employees, freelancers must handle their own tax payments. This blog covers the basics of estimated taxes, explaining who needs to pay them and how to calculate them. By mastering these essentials, self-employed individuals can avoid surprises and stay compliant with IRS rules.

Ann Diesta August 26, 2024
10 min read

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