3 Ways to Pay Business Taxes When You Don't Have the Cash


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3 Ways to Pay Business Taxes When You Don’t Have the Cash

If you owe more in business taxes on April 15 than you thought, but don't have the cash to pay them off, you're not alone.

It happens to all business owners at some point. Calm down, cool off, and take a look at your list of options below.

3 Ways to Pay Business Taxes
When You Don't Have the Cash

  • Option 1: Make a Deal with the IRS. If that sentence alone didn't give you a headache, you'll soon learn why it should - if you decide to ask for an extension or re-negotiation with the IRS.You could ask for an extension - but keep in mind that this does not make your tax bill disappear.You'll still need to pay off a good amount of the taxes you owe on April 15.

    And you'll also need to deal with the paperwork and frustration of working with the IRS.

    Plus, there's always the chance you won't qualify for the extension you apply for, after all the headache.

  • Option 2: Borrow from a Bank. Borrowing financing options like low-rate SBA loans from a bank may be a great option for you.With bank funding, you'd be able to pay off all your taxes at once, with no negotiation needed, no added interest, etc...if it didn't take the bank many weeks to months to get you funded. With tax day just around the corner, it is already most likely too late to apply for financing from a bank at this point.

    And what's more - bank business loans are incredibly difficult to get approved for.

    If you don't have perfect credit, years in business, and stellar sales, then you'll need to look elsewhere.

  • Option 3: Borrow from Alternative Business Lenders. With an expedited 24-hour funding process, simplified qualifications, and reduced paperwork requirements, alternative business financing offers the fastest and easiest funding options on the market.These options include:

No Added Interest. No Lump Payments. No IRS.

When you choose alternative funding, you choose the only option that offers a way to pay off your taxes without raising interest, disrupting your business's cash flow, and negotiating with the IRS.

You may even wind up saving thousands in the long run. For example, lets say you choose to take out a revolving credit line, instead of a traditional financing option.

With revolving credit, you get a maximum amount of credit that you can draw from as you need it.

Unlike traditional financing, revolving credit gives you the flexibility of only paying for whatever amount you choose to withdraw.

So instead of taking out a traditional business loan to do your taxes, in which you may wind up paying for much more than the taxes you're owed, you can use this financing option that protects you from overborrowing.

This is the kind of flexibility that alternative financing options offer those who need help paying off owed taxes.

Click the link here to view all your options: National Business Financing Options.

How to Get Alternative Business Funding
In Time for Tax Season

Fortunately, the team at National makes it easy to get the funding you need to take on tax season with confidence, without the possibility of disrupting your business operations.

Here's what you need to do:

  1. Make Sure You Qualify. 
    Have you been in business for over 6 months?

    Do you make over $100K in annual gross sales?

    Then congratulations - that's all you need to get financing in 24 hours!

  2. Fill Out Our 1-Minute Application.
    All we need is your:
    1. Name, Number & Email
    2. Business Name & Address
    3. Annual Sales & Time in Business
    4. Desired Loan Amount
    5. Industry
    6. And Your Intended Use for Financing
  3. Sit Back & Relax!

    We'll handle all the paperwork, and search through the global marketplace to find the best financing options that perfectly suit your needs.
  4. Receive Funds

    Through our expedited process, you'll receive funds in as little as 24 hours.
  5. Pay off Your Taxes!

    No extensions. No negotiations. No adding on interest.

    Use your borrowed funds to pay off all of your taxes at once, or just a portion.

    Pay us back in fixed monthly installments, or choose a more flexible repayment option - consult with us, and we'll establish a repayment plan that works best for you!

Reduce Your Tax Burden Before Next Year

A loan can help you meet your tax responsibilities this year, but it’s not a process you want to repeat every time tax day looms on the horizon. Fortunately, small business owners can deduct a wide range of expenses to lower tax bills and prevent a sudden dip in cash flow from occurring when filing returns.

Here are some of the most common expenses you’re allowed to write off:

  • Vehicle mileage and fuel
  • Equipment purchases
  • Inventory purchases
  • Rent and utilities
  • Business insurance
  • Employee insurance, including health insurance
  • Employee wages and payroll expenses
  • All supplies, including office and cleaning
  • Advertising
  • Interest on loan payments

Getting the greatest benefit from these deductions requires keeping meticulous records. This is where a lot of business owners miss out. It can be hard to track every expense when you’re caught up in the daily rush of business. And sometimes, there aren’t enough hours in the day to take even more time to update your books.

Working with an accountant or outsourcing to a bookkeeping service takes the burden off your shoulders and ensures you have the detailed accounts you need to maximize your deductions next tax season. An accountant who has experience working with small businesses can help properly categorize your current expenses and find additional deductions you may not have known you could take, leading to even greater savings.   

Apply Today, Get the Funds You Need
To Pay Your Taxes Tomorrow!

Give us a call for a free consultation at (877) 482-3008.

Or, fill out our simple 1-minute application below to get the funds you need in as little as 24 hours, and free yourself and your business from the burden of owed taxes in 2019!

Last Updated on February 22, 2019

National Business Capital helps entrepreneurs secure quick and fair financing to save time and cultivate sustainable growth.

Our stress-free online platform is designed for simplicity and speed, helping business owners go from application to approval in a matter of hours. And while we remain a leader in the Fintech industry, our clients agree it’s our personalized service and award-winning team that sets us apart.

From SBA loans to lines of credit, to equipment financing, and more, business owners can access all the different financing programs available to them in one place. Through our streamlined process, we have helped clients secure $2 billion in financing since 2007, and, more importantly, we’ve helped entrepreneurs save a tremendous amount of time and grow faster.

About the Author, Joe Camberato

Joseph Camberato, CEO of National Business Capital, developed a passion for business at a young age. Joe started his company in 2007 in his spare bedroom and has grown to secure over $1 Billion dollars in financing for small business owners nationwide. National’s team has an amazing culture and has been name the #1 Top Workplace on Long Island 3 years in a row and counting. Joe is a trusted financial expert who’s published more than 2,000 articles in the last 3 years. His articles have generated over 5 million page views and has been featured on blogs such as Google News, Yahoo, CNBC, Forbes Magazine, etc. His passion has also inspired him to build the "GrowByJoe” YouTube channel where he shares his insights into small business trends and tips for growth. Joe also holds a seat on Forbes Finance Council and is an active member of the Young Presidents' Organization (YPO), a global leadership community.





Disclaimer: The information and insights in this article are provided for informational purposes only, and do not constitute financial, legal, tax, business or personal advice from National Business Capital and the author. Do not rely on this information as advice and please consult with your financial advisor, accountant and/or attorney before making any decisions. If you rely solely on this information it is at your own risk. The information is true and accurate to the best of our knowledge, but there may be errors, omissions, or mistakes.