Few people in this country look forward to tax season, and this is particularly true for small business owners. Chances are, gathering and reviewing all of your small business finances every year is probably not why you decided to launch your own enterprise. Yet whether you hire an accountant to handle your small business taxes for you or muddle through them yourself, paying your taxes is a necessity.
Yet news stories about business leaders, celebrities and wealthy individuals getting in trouble for failing to pay their taxes or tax evasion are commonplace. Though it is legal to minimize your tax payments by taking advantage of the skills of a savvy accountant, skipping out on them can result in paying even higher fees in addition to your taxes or even land you in jail.
Skip the Excuses and Pay Your Taxes with Cash from Factoring Receivables
People can come up with some creative reasons to try to avoid paying their taxes. The IRS has heard it all before doesn’t accept excuses. It does however offer reasonable and fair options for cash-strapped businesses and individuals. For instance, if you file for an extension, you may be able to pay late. If you are short on cash, you may qualify for a small business financing arrangement, which lets you pay bit by bit overtime. Because of these legit small business financing options, the IRS is not sympathetic to those who say they can’t pay their taxes due to insufficient funds.
Private Financing Institutions Offer Small Business Finance Options
In addition to these options from the IRS, funding for small business options are also available from banks and invoice factoring companies where factoring receivables, unsecured loans, asset based loans, and P.O. funding can help you get cash quickly to pay your taxes on time. Such small business funding options allow for great flexibility, are fairly priced, and can be gotten quickly so you can avoid late fees. Not having enough money to pay your taxes is never an acceptable reason for not filing.