March 2024

 
LEVERAGING CREDIT WISELY FOR BUSINESS GROWTH
 

Credit can be a powerful tool for small business owners, offering flexibility and opportunities for growth. Whether it's securing a loan to expand your operations, investing in new equipment, or managing cash flow during slower periods, using credit strategically can propel your business forward. However, it's essential to approach credit with caution and ensure that you can comfortably manage repayments. By leveraging credit wisely and making timely payments, you can build a positive credit history that opens doors to even more opportunities in the future.

At Pratt and LeFevre, we're here to help you navigate the world of business credit and make informed decisions that support your long-term success.

UNCOVERING HIDDEN GEMS: BUSINESS TAX CREDITS EXPLAINED

Tax season can be daunting for small business owners, but understanding available tax credits can help lighten the load. Many business tax credits are designed to incentivize specific activities or investments. While our Own Nothing Control Everything © strategy focuses on minimizing taxable profits, accelerated depreciation for certain types of vehicles and equipment is an example of a business credit. By familiarizing yourself with these credits, you can potentially save your business significant money on taxes while also supporting positive initiatives.

At Pratt and LeFevre, we specialize in helping small businesses identify and maximize their eligible tax credits, ensuring that you keep more of your hard-earned money in your pocket.

THE SMART APPROACH TO BUILDING BUSINESS CREDIT

Building strong business credit is essential for long-term financial health and success. Just like personal credit, a solid business credit profile can open doors to better financing terms, vendor relationships, and growth opportunities. Our Own Nothing Control Everything © strategy has you start by establishing a separate business entity, such as an LLC and corporation, and obtaining an Employer Identification Number (EIN). From there, use credit responsibly, making timely payments and keeping balances low. Regularly monitor your business credit report for accuracy and address any discrepancies promptly. With the right approach, you can lay the foundation for a robust business credit profile that supports your company's growth and prosperity for years to come.

Let Pratt and LeFevre be your guide on this journey to financial empowerment.