Small Business Finance Blog

Financial tips and hacks for small business owners

You are here: Home / Archives for small business loans

How to Pull Cash Out of Your Retirement Accounts

By

How to  Pull Cash Out of Your Retirement is just as important as putting money in. Here's why. Most small-business owners look forward to the day when they no longer have to work and can retire (or semi-retire) knowing that they have sufficient assets to provide a comfortable retirement. Having sizeable investments is only part of the equation; you also need to ensure that these investments can be converted to cash in a way that minimizes taxes and penalties. Christine Benz, director of … [Read more...]

Business Travel is About to Get Pricier

By

Airlines made $36 billion in fees last year. Maybe you should follow their lead. Business Travel is About to Get Pricier. Traveling for business can be an unpleasant experience—long security lines, flight delays, uncomfortable seats and “snacks for purchase” —are just some of the highlights. In 2013, we have something else to look forward to—more fees. Last year, major airlines collected $36 billion in high-margin fees. These fees now represent a significant source of revenues (and … [Read more...]

Groupon Stock Jumps, But Serious Problems Remain

By

Investors support the firing of Groupon's Mason. But is it enough to start a turnaround? The firing of Groupon founder and CEO Andrew Mason has apparently made investors happy. The stock price closed up over 12.5 percent today, another sign that the market had lost confidence in Mason. Investors, which have sold the stock in massive quantities and driven its stock down more than 8 percent since its IPO peak, may welcome this decision, but it's not enough to ensure the company a path to … [Read more...]

Subway Founder Sees Tough Times Ahead For Small Business

By

Why Subway's billionaire founder believes if he had to start the successful sandwich franchise today, he wouldn't be able to do it. He Sees Tough Times Ahead For Small Business. Fred DeLuca, the billionaire entrepreneur who founded Subway, is worried about the state of the economy and the future of small business. In addition to being the founder of what is now the largest restaurant chain in the world, DeLuca has direct access to tens of thousands of store managers and franchisees that provide … [Read more...]

5 Ways to Protect Yourself From the Latest Tax Refund Scam

By

Billions in tax refunds are being redirected to scammers. Take these steps to protect yourself. Drug dealers and other criminals are exchanging their guns for laptops, in what is considered the safest and most profitable scam taking place today: tax refund fraud. Perpetrators steal or purchase the identities of potential victims, including social security number, date of birth and address. Using this information, they file a tax return on behalf of the victim with bogus information designed … [Read more...]

The Danger of Relying on Financial Statements

By

Financial statements shouldn't be your first line of defense in identifying business problems. The core financial statements—income statement, balance sheet, cash flow statement—are required for understanding the performance of your business at a specific point in time or over a period of time. But these statements by themselves aren’t enough to spot potential problems early on. Usually by the the time an underlying business problem affects your financial statements, the damage has been done. … [Read more...]

QB Tom Brady Just Agreed To A Massive Pay Cut. Is He Crazy Or Brilliant?

By

Did Superstar QB Tom Brady lose his mind by taking a paycut? I don't think so. Tom Brady, long-time quarterback for the New England Patriots, is considered the best quarterback of his generation and one of the best of all time. Brian Warner of CelebrityNetWorth.com writes that his multiple Super Bowl and Pro Bowl wins have allowed him to reach his career peak: he could easily command $20 million per year based on what other quarterbacks are getting paid. Yet Brady just agreed to a three-year … [Read more...]

Sequestration hits Friday: Will Your Business Take a Hit?

By

Sequestration hits Friday, and your small business may not be spared from the effects. Big Budget Cuts Coming Friday: Will Your Business Take a Hit? At this stage in the negotiations, it appears almost certain that a deal to avert sequestration will not be reached in time to prevent $85 billion in budget cuts from going into effect on Friday. Congress and the Executive Branch are too far apart on how to ameliorate these cuts, and each party believes the other will suffer more politically from … [Read more...]

3 Dumb Mistakes That Can Lead to a Tax Audit

By

Several Mistakes That Can Lead to a Tax Audit. Don't let one of these dumb mistakes be one of them. The fear of being audited keeps millions of small-business owners up at night, especially during tax season. While the number of tax returns audited each year is around 1 percent of total returns filed, that doesn’t do much to pacify the fears of tax filers. Small-business owners and self-employed people with higher incomes are at a greater risk of being audited in part because it is easier for … [Read more...]

Do Wealthy Business Owners Need Long-term Care Insurance?

By

Even if your filthy rich, long-term care insurance may be the best way to make sure you have a good quality of life when you're old. A long-term care insurance (LTCI) policy is an important financial planning tool. It helps cover the costs incurred by policyholders who can no longer take care of themselves due to illness, injury or old age. The policies usually protect the insured for expense that traditional health insurance, including Medicare, may not cover as well for periods of time that … [Read more...]