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.Continue Reading...
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.Continue Reading...
Eight Most Common Reasons Equipment Financing is Used
Nearly 80% of U.S. businesses finance or lease equipment, according to a report from the Equipment Leasing and Finance Association (ELFA).
The eight primary reasons businesses chose equipment financing are highlighted in this infographic.
The most common reason is the ability to finance 100 percent of equipment and related costs, saving cash-on-hand for other expenses.Continue Reading...
ATLANTA, GA – Feb. 28, 2017 -- Gilbarco Veeder-Root and Patriot Capital have announced a financing program for Gilbarco Encore 700 S fuel dispensers. The program provides rates starting at 1.9% for convenience-store operators who wish to upgrade their dispenser and payment technologies using Gilbarco products.Continue Reading...
C-Store Chains Add New Designs, Larger Stores in 2016
Innovative store design and increasing square-footage were key trends in 2016, according to a recent article in CSP Daily.[New Food Service Options.
7-Eleven, Miller Oil Company, Rutter's [New Food Service Options] Farm Stores and Maverik introduced new store designs that focus on made-to-order food service, expanded grocery offerings and larger inventory. Store sizes have grown from the historic 2,400-square-foot format to more than 5,000 square feet. Distinctive architecture styles are increasingly popular; some chains have lowered their display heights to offer customers an unobstructed view across the store, while others have added restaurant-style seating and made-to-order food service to attract more customers inside.
When Visa, MasterCard, and American Express announced the extension of the EMV forecourt liability shift from 2017 to 2020, there were two similar reactions from different camps in the industry for vastly different reasons.
- Smiles from fuel marketers who’ve already updated the majority of their sites and who see the extension as an opportunity to differentiate, and get a better ROI on that investment.
- Cheers from marketers who expected the date to be pushed back, and don’t plan to do anything for another three years.Continue Reading...
Pump EMV Liability Postponed - What Should You Do?
There was a collective sigh of relief on Dec.1, when VISA and MasterCard announced a delay in the forecourt gas pump liability date, moving it from 2017 to 2020. Most likely, there was also a smile in some boardrooms, as retailers who have already invested see an opportunity.
Fuel retailers need to decide if this means they should wait ,or upgrade as they had planned in 2017. The decision extends beyond fraud liability, and includes factors such as customer preference, the cost of waiting, and potential earlier liability for some sites.Continue Reading...
What The Proposed Federal Tax Changes Could Mean To Your Business - And How To Win In 2016
There is a lot of press about the potential for business tax rates to be lower as part of the new administration in Washington D.C..
Although there still is a lot of speculation about what will happen, and when, one thing is certain: if tax rates are lowered, the value of capital-goods depreciation will be reduced. This means that the actual net after-tax cost of capital equipment to businesses will be increased.