Small Business Taxes: Solutions to Being Debt & Penalty Free

September 7, 2022 EC Funding

Not paying your taxes on time, or worse yet not filing on time, will cost you in penalties and interest to the IRS. According to the IRS instructions for form 1040 pages 94 and 95, you could owe up to 25% for late filing and .5% per month for late payments. As a small business, I am sure you know that money does not always come in to your business as expected. With the deadline to file taxes fast approaching, this is serious.

We have solutions to the taxes you owe. Express Capital Funding wants your business to grow, and nothing will slow that down faster than owing the IRS.  A loan from us can save you from the penalties the IRS will charge you on top of the interest they charge. Even if you don’t owe a lot of taxes, the penalties have minimums and you want to avoid them.

It is very important that you get your tax return filed on time, the worst of the penalties is for late filing. The deadline for filing 2016 taxes is on April 18th, with a weekend and a holiday pushing it to Tuesday. Do remember to claim all the deductions you can legally claim, such as mileage. A good tax preparation software or service will help you find credits, but it is good to know as much as you can.

We have solutions designed especially for small business to help pay off your taxes fast so you can avoid penalties and keep your businesses cash in the bank. At Express Capital Funding, we are committed to giving you the resources to grow your business and keep you working at your best.

If you have any questions on how Working Capital can help your cash flow or to learn more, please give us a call at 888-513-9937.