Financing Articles and Blogs

Identify Theft – What should small business owners do to protect themselves?

Protecting your social security number may not be the only number to safeguard if you run a business.  Your company may have an Employee Identification Number (EIN), which is the business version of a social security number and used to identify it.  An EIN is needed to open bank accounts or take out credit, but it doesn't have the same protections that an individual's social security number benefits from.  Theft of EINs allows fraudsters to potentially open up lines of credit in the company's name or empty bank accounts.

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Tax Time - Are You Optimizing Your Capital Depreciation?

Every year at this time, business owners reflect on the taxes that they are paying.  A recent Wall Street Journal article1 highlighted the fact that the average tax rate for larger U.S. corporations is 21.2%2, noting “most mid-size and smaller firms pay much higher rates.”

One tax strategy that gas stations can use to lower their taxes and improve their cash flow is Section 179. This tax incentive enables those purchasing new or used capital equipment or making site improvements to capture benefits in the current tax year.

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