Financing FAQs Starting a business can be daunting, as you wonder how do you put yourself in the best position to succeed. The answer is simple: you begin with solid information. Every day users are posting new content to the Loans and Grants Community. Check out some of the frequently asked questions below to get yourself off to a solid start. Can I use a grant to start my business? Generally, no; despite what you may have heard, it is rare that a for-profit business would receive grant money to start or expand a business. While...
If yo;re thinking about launching a new venture or looking for ways to expand or improve your business, check out some of the invaluable financial tools and resources listed below: Savings Calculator: Adopting consistent saving habits can have huge returns down the road. Whether you are using personal savings to get your building off the ground, want to put some money aside for new equipment, or just want to plan ahead, use this savings calculator by the Financial Inventory Regulatory Authority (FINRA) to help determine a consistent and...
Green businesses many be eligible for grants, loans, and other financial incentives. Read on to find out more about green financing opportunities for your business. Loans and Grants If you are looking for environmental financing for your business, your first stop should be the Loans and Grants tool on Business.gov. After answering a brief questionnaire about your business, yo;ll receive information on financing programs that you may be eligible for. Remember- the federal government does not provide grants for starting or expanding a...
The Small Business Innovation Research (SBIR) Program allows qualified small businesses to compete for research and development financing by proposing innovations that meet the needs of the Federal Government. Earlier this month, SBA announced the SBIR program will soon undergo a series of improvements to increase the progra;s overall effectiveness and efficiency. Read on to learn more. About SBIR The program is a highly competitive, three-phase award system, specifically designed to fund research and development activities that private...
Does your small business currently hold tax-exempt status? Have you failed to file the proper returns with the IRS? If you answered yes to these questions, there is a good possibility that you're business is at-risk of losing its tax-exempt status. Luckily, the IRS has issued a one-time filing relief to owners in this situation. Her;s how it work- Certain small organizations can obtain a tax-exempt status. Most people automatically assume that all non-profits do-t pay taxes. Although many non-profit organizations receive state tax benefits...
One obstacle that entrepreneurs face is figuring out how much money they need to start and run their business. These cost estimates are the foundations used for setting prices and rates, analyzing profitability, asking for loans and investments, and most other finance-related tasks for starting your business. This process is extremely important, but does not need to be turned into rocket science. This guide will step you through the process. There are two major steps when trying to estimate how much money you will need when starting your...
Most business owners work to save as much money as possible during the startup of their business. While it may be easy to do without certain luxuries, there are some unavoidable costs that have to be paid one way or another. Acquiring the equipment necessary to run your business is one of those costs. Although leasing is not right for everyone, it is a good alternative to buying equipment, and in some situations it can be just what your business needs to succeed. Why should I consider leasing my equipment? Pro: Leasing allows businesses to...
Is there any government funding to start a __________ company? I decided to start a __________ business but I'm having trouble getting the financing I need. I need a grant for my __________ business. Where can I get it? Does this sound like you? If so, then you probably have a lot in common with your fellow Community members. Each day, the Loans, Grants, and Taxes forum is filled with posts asking for general help in finding money for small businesses. The type of business and financing need varies, but the bottom line remains the same...
An IRS audit is an impartial review of your tax return to determine its accuracy, not an accusation of wrongdoing. As a taxpayer, you have the burden of proving that your return is accurate. That said, an audit can be a time-consuming and frustrating process if you don't have your bookkeeping in order. In terms of avoiding a tax audit, the best offense is a good defense. Document All Income and Deductions. You can verify income, profits and earnings with supporting documentation. To document employee wages, especially when your...
For the most part, online businesses are required to comply with the same rules and regulations of traditional small businesses. When it comes to taxes, however, several additional issues come into play. Check out this quick guide to find out what all business owners in the e-commerce world should know. Internet Tax Freedom Act The Internet Tax Freedom Act aims to protect the Internet's commercial, educational, and informational potential. For online businesses, this legislation spells out what is and is not allowed - clearing up all...
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