Category: Business Credit

As we kick off a new year and so many of us commit to maintaining or renewing our personal health, business owners may want to turn some attention to assessing the financial health of their company. Instead of using the scale or a doctor’s appointment to determine your starting point, a calculation of gross profit margin can give you a simple metric to indicate how your business is doing financially. This calculation takes into account total sales and the total… Read More

When you sell a product or service, it’s important to understand your profit margin or how much money you make by selling your product. Essentially, a profit margin shows you return on investment (ROI) for all of your expenses. A low margin indicates you’re not getting the ideal ROI for your expenses while a high one proves you’re doing well.  Ideally, you’d have a high profit margin that steers your organization toward long term growth and success. By taking the… Read More

Being a small business owner can be incredibly rewarding. It’s exciting to have a vision and work hard to make your company grow and thrive. Of course, small business owners also have a lot of responsibilities and long (seemingly ever-growing) to-do lists. Yet no matter how busy you may be, one responsibility you can’t afford to overlook is taking the time to check your business credit.   Wondering how to check your business credit? We’ve got you covered. Checking your business… Read More

Many small businesses choose to incorporate to experience the varied advantages this legal filing can bring, including limited personal liability, enhanced credibility, and tax benefits. For business owners in the United States considering an S corporation classification, it is necessary to submit Form 2553 to the U.S. Internal Revenue Service (IRS) towards the start of the tax year. S corporation status ensures a company is taxed under Subchapter S of Chapter 1 of the Internal Revenue Code (hence, “S corporation.”)… Read More

You have big goals for your company in 2022. Growth, higher profits, and a better online presence might be at the top of your list. However, if building your business credit isn’t part of your plan, you may be overlooking an important milestone. Your business’ credit can play a significant role in the long-term success of your company. If you’ve ignored this fact for a while, you’re not alone. Business owners are notoriously busy. Building positive business credit is one… Read More

An S corporation and a C corporation are two types of business entities. Legally, they’re both considered corporations, but there are several key differences when it comes to ownership, taxes and costs.  Most entrepreneurs who choose an S corporations do so for tax purposes. We’ll compare what these two types of business entities, the similarities and key differences of an S corps vs. a C corp, and the advantages and disadvantages of each. What Is a Corporation? A corporation is… Read More