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No Tax Return

Tax returns are a headache to prepare, and it's the kind of headache that you must suffer every month, quarter, or year. It's an inevitable part of operating a business but here at Small Business Funders, tax returns are not a requirement for obtaining a loan or cash advance.

What Types of Taxes Do You Have to Pay?

When preparing your tax return, you will need to know which taxes your business is required to pay.

  • Property Tax. This is imposed when businesses that have lands or properties as part of its assets. They are paid to the county or city government.
  • Income tax. Perhaps the most common type of business tax, this is imposed on any business that is able to generate profit. The amount of income tax your company pays will be dependent on which legal form of ownership you have used for your company as well as which income bracket it falls under.
  • Gross Receipts Tax. This is charged to a business in lieu of state income taxes. Only specific types of businesses qualify for an exemption from gross receipts taxes. Others may also qualify for certain types of deductions.
  • Excise Tax. These taxes have to be paid if a business has specific types of consumption and which include but are not limited to fuel and communication activities.
  • Sales Tax. As long as you are selling a product or service, you are liable to pay the government this type of tax as well.
  • Franchise Tax. If you have a franchising business, then you will pay this type of tax as well.
  • Employment or Payroll Taxes. Businesses are also charged different types of taxes if they employ other individuals to work for them.
    • Federal income tax withholding
    • Social security tax
    • Medicare tax

These are but some of the taxes that you would have to detail in your tax returns and go through once more when other banks ask for a copy of your tax returns. But if you qualify for one of our cash advances, then rest assured that we won't ask you to provide us with a tax report of your business.

NO FINANCIAL STATEMENTS NEEDED!

A regular bank may also require any or even all of the following financial statements:

  • Income statements
  • Balance sheets
  • Cash flow statements
  • Projected financial statements

The worst thing about submitting these financial documents is that by the end of the day, you are still not guaranteed to get your application approved.

At Small Business Funders, however, we have skipped this entire process because we know that what's written on paper does not always reflect what's taking place in reality. We know that financial statements are not always accurate portrayals of your financial potential and the kind of profit that your business can generate if it were given added capital or – in this case – a loan or cash advance.

All we ask from you is the following:

  • Proof that the business you're running is registered in the United States.
  • Proof that you have a valid and current license to operate in the United States.
  • Proof of your previous and future sales and that your monthly sales amount to a minimum of $2,500.

If your business meets all of the above requirements then congratulations! You are pre-qualified to receive a cash advance from our company. Contact us today and you can expect to receive good news within 24 hours.

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