New Century Financial

Creditworthiness is a term often used by financial institutions to gauge their ability to secure loans or other types of financing. It would stand to reason that business owners are concerned about their own creditworthiness, which is why many are focused on building credit ratings for their organizations. But should you be concerned about the creditworthiness of your clients?

Credit Worthiness and Cash Flow

The creditworthiness can give you insight into your clients. You can take a quick glance and see if they are relatively new, have a robust and established track record, or if they are going through a rough patch. Additionally, the creditworthiness of your clients can be an indicator of how quickly you will be paid for the invoices your issue after sales are made. A client with a high credit record is likely to provide timely payments on goods and services. A client with a lower score may take longer, or even

Business taxes may seem like the best thing to look forward to in 2020, but taking time to get organized and sorted now can save business owners a lot of headaches in the new year.

Assess Your Business Liabilities

The deadline for 2019’s quarterly tax year is on January 15, 2020. Businesses must pay 100 percent of the previous year’s liabilities and 90 percent of the current year’s income taxes to avoid heavy penalties from the IRS. Business taxes in the form of IRS liabilities are different, depending on the size and type of organization you run. Businesses making fourth-quarter tax payments in January need to calculate taxes separately, especially if capital gains benefits are involved.

Estimated Business Taxes

Making four estimated business tax payments is often easier than making one large payment. Estimated business taxes are calculated by figuring

Many businesses are closing out 2019 with debt and other liabilities on the books. Reducing business debt is a great and realistic resolution that entrepreneurs can set for themselves in 2020. Reducing business debt helps to improve credit ratings, widen financing options, and removes strains on cash flow. Creating a plan for reducing business debt is not as insurmountable as it may initially seem.

Step 1: Reducing Debt through Consolidation

Some new and small business owners are entering 2020 with debt and liabilities centered around loans. In many cases, those small business owners are balancing payments on multiple loans, each with it’s own installment amount and interest rate. Debt consolidation is a way to combine those loans into one singular loan with manageable installments and interest rates. By having business debt under one loan, entrepreneurs can pay off multiple creditors quickly and efficiently. Read More