If you’d like to use the Section 179 deduction to buy business equipment, make sure you understand the latest rules. Here are the key changes for 2021.
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An Easy Guide to the Section 179 6,000 lb Vehicle Rule
The Section 179 tax deduction gives vehicles under 6,000 pounds that are used for business purposes a deduction cap of $12,400 and $30,500 for vehicles over 6,000 but under 14,000 pounds.* If the 6,000- to 14,000-pound range seems better, you can upgrade a feature like an engine and you may cross the 6,000-pound threshold, allowing… Read more »
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Net Income vs. Net Revenue: What’s the Difference?
Learn about the differences between net income vs. net revenue for small businesses.
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Strategizing Seasonal Discounts for the Holidays
Offering seasonal discounts can be one of the best ways to capitalize on the busy holiday shopping season — but it takes careful planning.
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Top 10 Commercial Truck Insurance Companies in the US
Commercial truck insurance companies provide liability coverage for various risks, including client contract disputes, employee injuries, theft, fire, physical damage, and product liabilities. However, there are still many misconceptions about what auto insurance cover. That may be why more than 29% of small businesses in the US don’t carry any small business insurance. Ignoring commercial… Read more »
READ THE STORYFood trucks have become a popular and affordable way to break into the food industry. Although cheaper than opening a restaurant, the initial costs of the truck, cooking equipment, and permits can all add up. Financing these costs can ease this pain with benefits like lower upfront costs, better cash flow, and potential tax deductions.… Read more »
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How to Finance Heavy Equipment for Small Businesses
As a small business owner, your dream of expanding, innovating, and running your operations efficiently lies in one critical factor: acquiring the right equipment. Whether you’re a startup or an established company, acquiring heavy machinery, up-to-date technology, or specialized tools is essential. How Does Heavy Equipment Financing Work? When you need to acquire equipment for… Read more »
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What Is Revolving Utilization?
What is revolving utilization? Here’s a look at this important part of your credit score, including the best ways to improve yours.
READ THE STORYWomen are starting businesses in greater numbers than ever before. These five organizations offer resources for women in business to help them succeed.
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10 Grants for Women-Owned Small Businesses
Imagine getting the money your business needs with no strings attached. Grants are funds provided by governments or organizations. Unlike loans, grants don’t come with the expectation of being paid back. Grants can offer much more than just free money – they offer mentorship, education, and a meaningful stride toward dismantling gender inequality in entrepreneurship.… Read more »
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How to Write A Business Plan for A Small Business
Writing a business plan is important in guiding small businesses toward success. Research indicates that entrepreneurs who create formal business plans are 16% more likely to achieve viability than their counterparts who don’t. It’s a common myth that business plans are only for startups. In reality, these plans are also valuable for established businesses, aiding… Read more »
READ THE STORYThe Section 179 tax deduction gives vehicles under 6,000 pounds that are used for business purposes a deduction cap of $12,400 and $30,500 for vehicles over 6,000 but under 14,000 pounds.* If the 6,000- to 14,000-pound range seems better, you can upgrade a feature like an engine and you may cross the 6,000-pound threshold, allowing… Read more »
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Are Small Business Loans Tax Deductible? | Tax Deduction 101
Check out the following rules to find out if your loan payments are tax deductible.
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What Equipment Qualifies for the Section 179 Deduction?
The Section 179 tax deduction offers business owners with an exciting opportunity to save substantially on their tax bill. Find out what is considered Section 179 qualifying property.
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