Business Owners Seek Working Capital Loans to Cover Tax Dues
Believe it or not business owners, taxes will be due in just two months. It’s that time of year again, time to get financial and accounting paperwork ready for your 2014 filing. The IRS noted a few months ago [regarding 2014 tax season] that they will continue to perform an increased number of randomized audits on small businesses this year. Mismatching income to 1099 totals, significantly higher expenses, and self-prepared tax returns, are the types of red-flags the IRS will be looking out for.
Reports also show that this year, business owners who find themselves unprepared to pay a heavy tax bill, are considering short-term working capital loans to cover tax dues and avoid paying heavy fees and penalties.
Paying all your business taxes at once is a good thing.
Every day, small business owners all over the US acquire working capital loans to purchase inventory and equipment, hire employees, cover payroll and cash flow issues.
However, most are not aware that a working capital loan can also be used to pay income taxes. These loans are flexible, and can be used without restriction. From state to federal taxes, property taxes or to pay late fees on taxes. Opting for a working capital loan will save time and money if you would otherwise have paid your tax dues late.
At Liberty Capital, we offer working capital loans without the waiting game. We specialize in helping small businesses in all industries and try our best to make it as easy as possible to acquire them. If you’re unsure at first, use our handy online working capital calculator to get a free, no-obligation quote. Second, apply for your loan through our website in a matter of minutes. If your working capital request is approved, Liberty Capital can provide you with funding in as little as three days.