National Funding, one of the largest private lenders of small business loans, today announced a free tax e-book for small business owners. The company\u2019s goal is to equip owners with information that helps them prepare their financial documents prior to filing their Federal tax return, which is due on March 15.<\/p>\n
The National Small Business Association recently conducted a survey in which owners reported having to spend an average of 40 hours preparing and filing their taxes. 25 percent said they spend at least three weeks a year on taxes. Therefore, more than half of small employers \u2013 53 percent \u2013 said the time and paperwork required during the tax season pose the most harm to their businesses. The remaining 47 percent said the actual tax bills are the greatest threat.<\/p>\n
\u201cNational Funding created the online tax guide to empower and educate small business owners about their taxes,\u201d said David Gilbert, founder and chief executive officer, National Funding. \u201cMany of our customers reach out to us about needing funding for tax payments this time of the year, so we hope this book helps them save money and clear up confusion about the complex and ever-changing tax regulations.<\/p>\n
The 23-page e-book includes helpful tips and real-life examples such as:<\/p>\n
\u2022 Checklist \u2013 documents needed prior to filling out a tax return or meeting with a tax professional
\n\u2022 Tax form chart \u2013 shows what tax forms are required for the four types of small businesses (Sole Proprietor, Partnership, S Corporation and C Corporation)
\n\u2022 Deductions \u2013 shows what business expenses can and cannot be deducted
\n\u2022 Explanation of Section 179 \u2013 Section 179 became a permanent tax rule this year that allows business owners to deduct the cost of equipment purchases or leasing payments up to $500,000.<\/p>\n