Posted by Sarah Cantu on May 8, 2020 in Small Business Tips |
This post was contributed by our partners at Bench. If your small business has been impacted by COVID-19, you have financial options. From federal loans to local grants, here’s a walkthrough of available resources to help your business stay afloat. For any loan or grant application, we recommend getting your 2019 bookkeeping and taxes completed. This will put you in the best position to secure funding, and be eligible for loan forgiveness where applicable. Have any questions at all about financing, bookkeeping, or taxes? Reach out to Bench and learn more. Federal government relief Paycheck Protection Program Weren’t able to get funding during the first round of the Paycheck...
Posted by Sarah Cantu on May 1, 2020 in Personal Finance |
In the time of COVID-19, many of us are understandably anxious. With doomsday headlines about record unemployment numbers and businesses closing their doors, it’s difficult to escape feelings of uncertainty. Most of us know somebody who’s lost a job or had a salary cut, whether or not we have personally been impacted. So it’s understandable that many people are thinking about how to make more money or spend less of it. Even if your income has not been impacted by COVID-19, boosting your savings account is never a bad idea. Reducing expenses can also put you in a place to more freely help others who may have been more...
Posted by Sarah Cantu on Apr 15, 2020 in Small Business Tips |
Our partners at Bench are here with some action items that you can implement right now to help your small business confidently face whatever comes next. With the effects of COVID-19 rippling through the economy, it’s easy to feel overwhelmed. Many businesses are being forced to shut their doors temporarily. What should you do first? How can you protect your finances in a volatile economy? 1. Understand your business’ current financial position It’s always a good idea to have a handle on your numbers, but this becomes doubly important during times of economic uncertainty. A clear understanding of your company’s financial position lets you immediately see where you can...
Posted by Sarah Cantu on Apr 8, 2020 in Product Updates |
Deducting sales tax just got easier All Shoeboxed customers now have the power to add a new data field to their digitized receipts: sales tax, value-added tax (VAT), or goods and services tax (GST). Once you opt-in, Shoeboxed will begin scanning sales tax/GST/VAT information on future receipt submissions. This information will then be included in your digitized receipts for you to organize as you see fit. Taking advantage of this feature means you won’t have to hunt down and mine your receipts for sales tax data: we’ll store that information for you so you can deduct sales tax quickly and easily. Try Shoeboxed Free for 30 Days PS,...
Posted by Sarah Cantu on Mar 31, 2020 in Small Business Tips |
What the New Tax Deadline Means for Your Refund, Who It Applies To, and More April 15th is synonymous with one thing for most Americans: taxes. This day marks the typical deadline to file (and pay) income taxes for the majority of individuals and businesses. But things are a little different this year. In light of the global outbreak of COVID-19, the IRS recently announced that the deadline for filing 2019 taxes and tax payments has officially been extended to July 15th, 2020. This change marks a 90-day extension to file income taxes. Of course, the most important thing to know about the deadline change is that individuals and...
Posted by Sarah Cantu on Mar 20, 2020 in Uncategorized |
There’s no doubt that solopreneurship is on the rise. Solopreneurs are, of course, entrepreneurs, but because they’re often the only ones with real skin in the game, their money situation is typically unique. While there are lots of resources for managing small business finances, managing your money as a solopreneur has its own set of considerations. It’s particularly important that solopreneurs delineate between their personal finances and their business’ revenue. Moreover, solopreneurs don’t have designated team members to who they can delegate the “business side” of their business. This means that managing a business’ finances, on top of all other duties, falls squarely in their laps. Managing your money as...
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