Don’t let tax time empty your pockets and negatively effect your cash flow!
The most dreaded time of year is here, tax time. With April 15 approaching, businesses are searching for ways to pay their pay tax liability without breaking the bank. A business loan is a great option for your business. Here’s why.
The IRS charges interest and penalties.
Paying taxes late is a non-forgivable offense in the eyes of the IRS. They assess interest and penalties to businesses that don’t pay their tax bill on time. The IRS is not a bank or a lender, so their fees will tend to be much higher than a business loan. If you are wondering how to pay business taxes this spring and you need additional capital, you are a great candidate for a business loan. Business loans can help you make your tax bill manageable. Financing Your Way can help you find the perfect loan to pay your federal tax liability.
State governments are not as lenient.
Just when you thought things couldn’t get worse, you also realize that you have a state tax liability. Your business will need to consider how to pay both federal and state taxes before April 15. State governments are not as lenient as the IRS. The state governments also charge interest and penalties and in some state business owners can face jail time for unpaid taxes. With an infusion of capital, you can afford to pay your tax liabilities and make the debt more manageable by paying over time. A business loan with Financing Your Way can help you balance the debt of state taxes.
Levies and liens affect your personal credit.
When you fail to pay your federal or state tax liability, it is likely that you will have your problems with your assets. Banks accounts and other real property can encounter liens or levies. When a lien or levy is placed on your business, it affects you as the owner personally. This can damage your ability to purchase real estate and other property in the future. Protect your personal credit.