A predictive dialer is a software system that can automatically dial phone numbers without human intervention. They connect sales agents and other workers to prospects as quickly as possible so they do not spend unnecessary time going through contact lists and entering digits. Predictive dialers are usually bundled with contact center systems. There is no…
All What is Articles - Page 19
Section 179 Deduction for Property, Equipment & Vehicles
The Section 179 deduction allows business owners to immediately deduct up to $1,020,000 of the cost of qualifying property and equipment purchases for the 2019 tax year. The advantage of the deduction is you immediately receive the tax savings from an equipment purchase rather than gradually saving taxes through depreciation in future years. What Is…
What Is a Credit Limit?
A credit limit is the maximum amount you can charge on your credit card, which is predetermined by your card issuer. The larger your limit, the more you can spend on your credit card. Credit card issuers use several factors to determine your credit limit, including your income, credit score, and other financial considerations. To…
IRS Business Expense Categories List [+Free Worksheet]
Due to the vast number of industries that exist, it is impossible to list every single business expense. However, there is a comprehensive list of common IRS business expense categories applicable to most businesses. In addition, streamlining the process of tracking your business expenses will ensure that you don’t miss out on any tax deductions….
Standard Mileage Rate for 2019 and 2020
If you use your vehicle for business, medical, or charitable purposes, you may qualify for a tax deduction. The deduction is calculated based on a mileage rate times the number of miles you drive. You must keep accurate records of your miles to qualify for the standard mileage rate deduction. Mileage Rate for 2019 The…
Self-employment Tax Rates 2020 & Step-by-Step Instructions
Self-employment tax rates have remained constant for many years, but the amount of income subject to the tax increases slightly every year for inflation. Self-employment tax is the equivalent of payroll taxes paid by employees and is due on income earned by sole proprietors, freelancers, and independent contractors. Self-employment tax is due regardless of whether…
How Do S Corporation Taxes Work? (+Free Checklist)
S corporations (S-corps) are corporations and limited liability companies (LLCs) that have elected to pass through their income, deductions, and credits to be taxed on the owner’s tax return. S-corp tax rates are the same as the personal income tax rates because the owners pay S corporation taxes on their share of the company’s income….
What Is Less-Than-Load Freight Shipping & How It Works
Less-than-load (LTL) freight is used by businesses whose shipping needs are insufficient to fill a freight carrier’s truck but too large for parcel delivery. The primary advantage of LTL shipping is typically lower total shipping costs. Shippers also enjoy greater shipping efficiency, flexibility, and the environmental benefits that come from transporting items on trucks that…
Owner Financing: The Ultimate Guide to Seller Financing
Owner financing is an arrangement in which the seller agrees to accept installment payments directly from the buyer rather than having the buyer obtain a loan from a bank. Owner financing—sometimes referred to as seller financing—often provides buyers with easier qualification and more flexible repayment terms than a traditional mortgage while providing sellers with monthly…
What Is Personal and Advertising Injury Coverage?
Personal and advertising injury coverage, included in commercial general liability insurance, protects your business against claims typically involving an infringement on a third party’s personal or intellectual rights. It can cover libel, slander, and copyright infringement. Coverage provides defense up to your personal and advertising injury coverage limits, in the event of a claim. What…
Missouri Workers’ Compensation Insurance: Top Providers, Rules & More
Missouri workers’ compensation requires employers with five or more employees to carry insurance for injured employees’ medical bills and lost wages unless they’re in construction. In that case, employers must have workers’ comp if they have even one employee. Workers’ comp premiums in Missouri are at $1.04 per $100 of payroll. Finding workers’ compensation insurance…
What Is a Certificate of Deposit and How Does It Work?
A certificate of deposit (CD) is a time-deposit savings account that earns interest for a predesignated period of time. When learning how CDs work, know that CDs have term periods between 21 days and 10 years. The longer the term, the higher the interest rate. You won’t be able to withdraw your funds until the…