POST CATEGORY : Finance

The Pros and Cons of Virtual Credit Cards for your Business

Companies are continuously looking for ways to improve how they manage their spending, to increase cost-efficiency and the effectiveness of the process.

An aspect of this that’s risen in popularity in recent years, is the use of virtual credit cards, which offer an innovative way to better manage your corporate spend.

Virtual credit card

However, as with any new software for your business, it’s important to first understand every aspect of these virtual cards, before deciding to implement them into your company.

Therefore, this article will take you through what virtual credit cards are, as well as the pros and cons of using them in your business.…

Continue reading →

What Qualifies as an Itemized Deduction

Like most people, you probably think of deductions as a way to reduce your taxes. But that’s not quite what they are. A deduction is a tax break that allows you to take an amount of money out of your taxable income and use it to lower your overall taxable income.

Itemize deductions

These Types of Deductions can be Either Personal or Business Deductions

Personal deductions include things:

  • Medical expenses (deducting them can help reduce your taxable income by up to 40% if you’re a high-income earner).
  • State and local taxes (deducting them can help reduce your taxable income by up to 40%).
…Continue reading →

Managing The Costs of Company Cars

Company cars are an invaluable resource for many businesses. They can serve as team member perks or provide a means of transportation for operational purposes. However, acquiring and sustaining business vehicles is costly, mainly when working with a small budget. Ultimately, finding ways to keep these expenses to a minimum is ideal. Continue reading for advice.

Company car insurance

Go Electric

The cost of electric vehicles has dropped significantly since they were introduced to the market. There are also more vehicle types to suit your budget and company needs. From compact and economy cars to SUVs and trucks, you can purchase an environmentally-friendly vehicle at a low rate.…

Continue reading →

The 3 Best Ways To Reduce Your Food Truck Expenses

Having a food truck business is not such a crazy idea as it was in the past. There are a lot of people that are making a lot of money doing it and are loving what they do in the process. It’s a great opportunity to do things that would be too difficult in a restaurant. For instance, you can have your entire menu based on recipes made with US soy fed beef such as tacos or barbecue. Or, you can focus on a certain ethnic cuisine.

Food truck business

One thing that every food truck owner should do, however, is find ways to save money.…

Continue reading →

6 Common Accidents Commercial Property Insurance Covers

Commercial property insurance is crucial for protecting your business. The risk of damage to your assets, employee injuries, and customer harm is more significant than many business owners realize.

Commercial property insurance

For example, The Hartford conducted a study and found that 40% of   businesses would experience a property or liability loss within the next ten years. Therefore, ensuring you are insured is crucial to protecting you should the worst happen.

Here are the most common accidents commercial property insurance covers.

1.   Theft

People talk about insuring their businesses, but you may not realize that your coverage extends to the assets within, including tools, equipment, and inventory.…

Continue reading →

Benefits and Risks of Crypto-Loans

Cryptocurrency lending

Advantages of crypto loans

  • Cryptoloans are issued to anyone who can provide collateral or return funds as an instant loan. Due to this quality, they are easier to obtain than a loan from a traditional financial institution, and there is no need for a credit check.
  • The smart contract automates the entire process, making lending and borrowing more efficient and scalable.
  • This is an easy way to earn passive income with minimal effort. Holders can put their cryptocurrency in a vault and start earning annual interest income without having to manage their credit.

When acted responsibly, crypto-lending platforms provide value to both the borrower and the lender.…

Continue reading →

5 Ways to Reduce Inventory Holding Costs as a Small Business Owner

They say that many small businesses permanently close at some point within their first few years of operating. One of the reasons for this is the continuous expenses businesses require in order to keep up and running. Unfortunately, these expenses don’t go away, even if the business isn’t profitable or making sales at all.

Inventory management

Inventory holdings costs are one thing that may burden small business owners. So, how can we reduce these costs and, in turn, help make running a small business more affordable so that business owners can be more successful? We have some useful tips for you.

1. Don’t Overstock on Items

It’s easier said than done at times, but it’s critical to make sure you aren’t overstocking on items.…

Continue reading →

Why Seek Help from Debt Advisers for Management of Debt?

Debt or overdue payment impacts the financial strength of an individual and reflects negatively on the credit score. Bad financial decisions and overspending pile up debt that further increases interest rates. However, if you are struggling with debt problems, it is highly recommended to seek help from debt advisors. A counselling session helps find a way to take care of the debt while avoiding the route of filing for bankruptcy.

Get out of debt

Here are some strong reasons to get professional help for excellent debt advice Canada. It helps manage the debt and builds a credible financial history.

Prevent filing for a bankruptcy

When you are loaded with debt, it is challenging to think straight.…

Continue reading →

What are Some Car Insurance Buying Tips for a First-Time Buyer?

Buying a new car is an exciting experience, especially for first-time car buyers. There are a lot of factors that first-time buyers need to consider, with car insurance being one of the most important ones.

Automotive insurance

If you want to keep your brand new car financially protected against accidents, theft, disasters, etc., it is important to secure the vehicle with comprehensive car insurance. However, buying car insurance for the first time can be a complicated and intimidating process. So, we have compiled a list of valuable tips that can help you get a better understanding of the car insurance buying process:

Research Different Car Insurance Plans

There are dozens of reputed car insurance companies in India that offer car insurance plans of varying costs, features, and benefits.…

Continue reading →