It’s tax time again
Tax season can be a stressful time of year, particularly if you own a small business. With tax rules changing all the time and the economy often in a state of flux, it’s hard to keep up.
This time of year we put together our records visit the accountant and get surprise tax bills. Sometimes it seems that no matter how careful we are, surprise tax bills can really be a burden. If you are self-employed, or run a business, these surprises can be a hassle so early in the year.
Surprise! You owe the government even more money!
Whether you pay your taxes in installments, or in a lump sum, you need to get access to cash when you need it. If you run your own business, are self-employed, or are just getting started with a new project, it can often be hard to borrow money.
When you apply for a line of credit, you need to show your credit rating, steady income, and provide all kinds of documentation to prove that you are not a credit risk.
If you work for yourself, you usually are seen as a higher credit risk, can’t get access to good interest rates, and sometimes even have to deal with bad customer service from the banks. If you work in the construction industry and are in the middle of a building project, work in technology or run a farm, work is often seasonal and cash flow comes in waves.
A sudden tax bill can be painful when it is a surprise. And no matter how carefully you plan, a tax bill is always an unwelcome surprise.
What if I have bad credit?
Being prepared for the year end of your business is key, and if you keep careful track of your expenses, income, and all the other paperwork required, it can make your trip to the accountant much easier. But there are always surprises.
If you have bad credit because you invested more money into your business, are between contracts, have had to deal with illness or are changing things to provide better opportunities, you already have spent lots. This time of year can be difficult if you bought extra inventory and are working to sell your products, or are getting ready for the spring season of work and have spent lots to prepare. A tax bill is the last thing you need to see.
Don’t use your credit card
If you have a poor credit rating, or you have borrowed extra to invest in your business, it can affect how much money you have access to. One of our clients owns a construction company, is in the middle of working on a new project, has to raise money to pay his crew, and has been warned by his accountant that he will need to pay extra this year on his taxes. He has already borrowed to keep his company moving forward and when he went to the bank to extend his credit line they told him he was over-extended.
As he was considering using his credit card to borrow money at high interest rates, he came across the One Stop Mortgage website. This is where the team of debt consolidation specialists at One Stop Mortgage Corp can help. We were able to raise the funds he needed to pay his taxes, reduce his overall payments on his current line of credit by consolidating his debt, and give him the credit breathing space he needed to keep his business moving forward.
Every day we meet people who run businesses who go to banks and are considered a credit risk, despite the fact that they have been in business for years. Since we have access to various types of funding, it allows us to get cash when you need it most.
Before you consider borrowing money from your credit card to pay your upcoming tax bill, consider your options.
Peace of Mind
Taxes never go away and they are always stressful and constant. Paying unexpected taxes in the spring is hard for most of us who run businesses, and can cause unexpected strain on our finances. If you have borrowed extra to keep your business moving forward, or had to deal with unexpected surprises in your health or personal world, or need to hire more people to get the job done, you can still get peace of mind by coming to see the debt consolidation specialists at One Stop Mortgage Corp. Our friendly staff is here to help you come up with the best solution to your financial situation and find the cash when you need it most.
Contact the Debt Consolidation Specialists
Need money now to pay your taxes? Want a simple solution and excellent advice? Contact the debt consolidation specialists at One Stop Mortgage Corp. With a simple application, you can see how much money you are eligible to borrow and get the advice you need to consolidate all your debts. You need peace of mind and to be able to pay your taxes! Even if the bank turned you down, the team at One Stop Mortgage Corp can help.
Call them today at 604 874 8988 or call toll free 1 877 874 8988. Want to get a head start? Simply fill out this application form and one of our home equity loan specialists will contact you to get you on the road to a wonderful vacation and debt consolidation.
Even if the bank turns you down, or your credit-rating is not accepted elsewhere, we can help.