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Sep 13, 2019
Filed under: Point of Sale, Restaurant POS
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A Quick Guide To Filing For Bankruptcy For Small Businesses
Bankruptcy is probably one of the last things you want to think about. But as unpleasant a prospect as it can be, businesses regularly fail. If that happens, don’t be afraid to look into bankruptcy and give yourself a fresh start.
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Small Business Microloans: What They Are & Where To Get Them
A microloan is defined as a small loan that is typically for $50,000 or less. Microloans offer an alternative to traditional bank loans. These loans are for smaller amounts, so they are easier to qualify for, opening up options to small businesses that aren’t eligible for conventional loan options, either due to low revenue or lack of establishment.
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What Is A Merchant Cash Advance For Business Funding?
A merchant cash advance is a sales agreement where the merchant (the “seller”) is selling their future revenue at a discount to the merchant cash advance company (the “buyer”). Because merchant cash advances are sales agreements, they generally aren’t covered by usury laws that govern loans. This is where they get their dubious reputation. The effective APRs of merchant cash advances can easily crawl into the triple digits.
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Guide To Business Loan Rates & Fees
Small business loan rates and fees affect your cost of borrowing, so it’s important to make sure you do your research to find the most affordable loan for your business. The most effective way to get the best deal on a business loan is to educate yourself, starting with this guide.
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12 Types Of Business Loans
Short-term loans and merchant cash advances are typically the easiest to get. Certain business credit cards and lines of credit may also be easy to get. One thing to note that many business loans that are fast and easy to obtain come with shorter repayment terms and higher rates and fees.
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What Are Cost Segregation Categories & Costs?
Cost segregation allows you to write off specific costs over five, seven, or 15 years, and this frontloaded depreciation can cut your tax bill significantly. Many costs can be written off through cost segregation — from furniture and office equipment to POS systems and drive-thru equipment.
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How To Choose A Cost Segregation Company
Cost segregation can save your business thousands of dollars now and in the future by accessing property and accelerating depreciation. To take advantage of these tax benefits, you need a firm that specializes in cost segregation studies. But not every cost segregation company is equal. Choosing the wrong company can result in overlooked tax benefits or incorrect calculations that lead to IRS penalties and interest.
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Cost Segregation Benefits & Drawbacks
Cost segregation can be a lucrative tax strategy for taxpayers who own commercial or investment property. There are numerous benefits of cost segregation, but it’s not without its downsides. Before you hire a cost segregation company, find out if this strategy is right for you with our breakdown of the pros and cons of cost segregation.
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Who Qualifies For Cost Segregation?
Cost segregation is a tax strategy for taxpayers who own properties that are newly purchased, constructed, or remodeled. This strategy can be applied to property owned by individuals, corporations, trusts, or partnerships.
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