-
2 weeks ago | 
bankrate.com | Marlese Lessing |Rob Watts
President Donald Trump has announced, rescinded, raised and adjusted dozens of tariffs over the first months of his presidency, leaving business owners scratching their heads as to when and how they should brace for impact. As the tariff situation develops, many small business owners are worried about how import taxes will affect their bottom line.
-
2 weeks ago | 
bankrate.com | Marlese Lessing |Rob Watts
Tariff worries have been looming for small business owners across the United States, with import taxes promising price increases, shortages and supply chain snarls for business owners who rely on global trade for their equipment, inventory and restaurant ingredients.
-
2 months ago | 
bankrate.com | Marlese Lessing |Rob Watts
President Donald Trump’s Small Business Administration (SBA)’s nominee for administrator, Kelly Loeffler, was voted in 52-46 by the Senate on Feb. 20, making her the head of an administration that sees over in loans, disaster relief, surety bonds and other forms of funding for small businesses. Loeffler has a large task ahead of her as SBA administrator.
-
2 months ago | 
bankrate.com | Marlese Lessing |Kenneth Chavis IV |Rob Watts
Nobody likes getting an audit notice in the mail, which is why it’s critical to complete your business taxes in a thorough, correct and timely manner. Unfortunately, it’s easy to get tangled in the details of tax code and feel overwhelmed by all the ins and outs of your paperwork. This stress can lead to mistakes, and those mistakes can cause you to miss out on deductions, miscalculate how much you owe the IRS or even land your employees in trouble.
-
2 months ago | 
bankrate.com | Marlese Lessing |Brian Beers
With the April 15 deadline for filing business income taxes looming, many small business owners are getting their documents and finances in order to determine how much they may owe or whether they can expect a refund. Working with a tax professional such as a tax preparer or a certified public accountant (CPA) can help you maximize your deductions, pay the correct amount and even organize your systems for a smoother tax season.
-
2 months ago | 
bankrate.com | Marlese Lessing |Rob Watts
President Donald Trump’s tariffs are leaving small business owners wondering if they can keep up with new potential disruptions in the supply chain. Trump announced 25 percent tariffs on Mexico and Canada in late January, along with a 10 percent tariff on China in retaliation for claims around weak border security and fentanyl smuggling in those countries. Canada and Mexico’s tariffs were paused for the next month as negotiations continue, while talks with Chinese officials are ongoing.
-
2 months ago | 
bankrate.com | Marlese Lessing |Rob Watts
A slew of new tariffs and trade rules imposed by President Donald Trump have left world leaders, businesses and consumers in a state of surprise and uncertainty. The new administration recently imposed tariffs on Canada, China and Mexico, the United States’ three largest trading partners. Trump’s tariffs have the potential to impact small businesses both directly involved in the items and industries that depend on imported goods and those further down the supply chain.
-
2 months ago | 
bankrate.com | Marlese Lessing |Rob Watts
Getting a business loan can be a massive upgrade for your business. Having extra capital can allow you to hire more staff, buy more inventory or invest in exciting opporunities as your business grows. Craig Veurink, business banking regional executive for U.S. Bank’s Midwest Region, has worked with commercial loans for decades – and predicts that this year will be a big one for small businesses. “2025 is going to be a good year for loan demand on the small business side,” Veurink said.
-
Jan 23, 2025 | 
bankrate.com | Marlese Lessing |Rob Watts |Thomas Brock
Running a small business can be precarious. A few slow months of sales, damage to a building or excess inventory bill can quickly throw off your cash flow and force you to close. This is why having cash reserves is essential to keeping your company afloat. Cash reserves act as an emergency fund, allowing you to quickly access money when you have expenses to pay and not enough income to cover it. “It allows you to weather the storm when business does slow down,” says Dan Dollevoet, fractional CFO.
-
Jan 14, 2025 | 
bankrate.com | Marlese Lessing |Kenneth Chavis IV |Rob Watts
A certified public accountant (CPA) can play a crucial role in the tax filing season as they help business owners navigate the tax code and ensure they meet all of their required deadlines. They also play a vital role in looking at your business accounts critically and help you fix financial issues hurting your business“I play financial therapist every day,” says Paul Miller, CPA and founder of accounting firm Miller and Company. “I look at numbers all day and I solve problems all day.
