If you owe more in business taxes on April 15 than you thought, but don’t have the cash to pay them off, you’re not alone.
It happens to all business owners at some point. Calm down, cool off, and take a look at your list of options below.
And you’ll also need to deal with the paperwork and frustration of working with the IRS.
Plus, there’s always the chance you won’t qualify for the extension you apply for, after all the headache.
And what’s more – bank business loans are incredibly difficult to get approved for.
If you don’t have perfect credit, years in business, and stellar sales, then you’ll need to look elsewhere.
When you choose alternative funding, you choose the only option that offers a way to pay off your taxes without raising interest, disrupting your business’s cash flow, and negotiating with the IRS.
You may even wind up saving thousands in the long run. For example, lets say you choose to take out a revolving credit line, instead of a traditional financing option.
With revolving credit, you get a maximum amount of credit that you can draw from as you need it.
Unlike traditional financing, revolving credit gives you the flexibility of only paying for whatever amount you choose to withdraw.
So instead of taking out a traditional business loan to do your taxes, in which you may wind up paying for much more than the taxes you’re owed, you can use this financing option that protects you from overborrowing.
This is the kind of flexibility that alternative financing options offer those who need help paying off owed taxes.
Click the link here to view all your options: National Business Financing Options.
Fortunately, the team at National makes it easy to get the funding you need to take on tax season with confidence, without the possibility of disrupting your business operations.
Here’s what you need to do:
Do you make over $100K in annual gross sales?
Then congratulations – that’s all you need to get financing in 24 hours!
Use your borrowed funds to pay off all of your taxes at once, or just a portion.
Pay us back in fixed monthly installments, or choose a more flexible repayment option – consult with us, and we’ll establish a repayment plan that works best for you!
A loan can help you meet your tax responsibilities this year, but it’s not a process you want to repeat every time tax day looms on the horizon. Fortunately, small business owners can deduct a wide range of expenses to lower tax bills and prevent a sudden dip in cash flow from occurring when filing returns.
Here are some of the most common expenses you’re allowed to write off:
Getting the greatest benefit from these deductions requires keeping meticulous records. This is where a lot of business owners miss out. It can be hard to track every expense when you’re caught up in the daily rush of business. And sometimes, there aren’t enough hours in the day to take even more time to update your books.
Working with an accountant or outsourcing to a bookkeeping service takes the burden off your shoulders and ensures you have the detailed accounts you need to maximize your deductions next tax season. An accountant who has experience working with small businesses can help properly categorize your current expenses and find additional deductions you may not have known you could take, leading to even greater savings.
Give us a call for a free consultation at (877) 482-3008.
Or, fill out our simple 1-minute application below to get the funds you need in as little as 24 hours, and free yourself and your business from the burden of owed taxes in 2019!
National Business Capital & Services is the #1 FinTech marketplace offering small business loans and services. Harnessing the power of smart technology and even smarter people, we’ve streamlined the approval process to secure over $1 billion in financing for small business owners to date.
Our expert Business Financing Advisors work within our 75+ Lender Marketplace in real time to give you easy access to the best low-interest SBA loans, short and long-term loans and business lines of credit, as well as a full suite of revenue-driving business services.
We strengthen local communities one small business loan at a time. For every deal we fund, we donate 10 meals to Feeding America!
Matt Carrigan is the Content Writer at National Business Capital & Services. He loves spending every day creating content to educate business owners across every industry about business growth strategies, and how they can access the funding they need!