Are Factoring Fees Tax Deductible

To file for tax deductions available from your factoring arrangement, be sure to turn to a reputable and experienced tax preparer. To better understand your factoring agreement, talk with your factoring company professional representative who knows their stuff. Your tax preparer will need to address a few questions and sort out reporting requirements for you. Here are a Few Key Questions to Handle: Are factoring fees tax deductible? If your factoring agreement calls for invoice sale advance payments to incur interest charges until your customers pay invoices in full, are the interest charges tax deductible? How will you choose to ... Read More

MIAMI, FL – Paragon Financial Group, a 21-year-old factoring company, announces the 100th small business has now benefited from their IRS tax funding program. The funding program caters to businesses that have experienced a lack of available working capital funding options stemming from federal or state tax issues such as payroll tax debt, tax liens, and levies. Securing commercial financing or other types of bank financing is very difficult when a company is experiencing taxing authority issues. Chris Curtin, National Sales Manager of Paragon Financial says, “When companies have IRS or state tax issues, it is more important than ever ... Read More

top 5 myths lenders

Myth 1: If no federal tax lien has been filed, my collateral is safe. Seizure of your collateral is possible even without notice. Many lenders don’t realize that the IRS doesn’t have to file a lien to issue a levy against your collateral. In fact, less than 40% of IRS liabilities currently have liens filed in the public record. Using public records search to assess your risk is understandable, but not nearly enough to protect you from your true IRS risk. The bottom line is, there is no protection unless you know for sure that your client doesn’t have outstanding ... Read More

Accounts Receivable Factoring

Accounts receivable factoring is a great tool for funding your company. It helps your small business get the working capital needed to maximize opportunities and keep profitable.  Below, we will discuss scenarios where receivable factoring is a funding option that makes sense. Is Your Business New? Startup businesses do not typically have a lot of working capital.  Having the ability to meet payroll, invest in a new idea or buy raw material can make or break the company.  Often times, new businesses are not able to secure bank funding giving them few options to raising capital. Selling their accounts receivables can be an effective way to raise ... Read More

It is very difficult to obtain the funding you need for working capital to grow your business. This is especially true if you have unresolved back-tax issues with the IRS. Working with an experienced funding source can resolve your tax issues and provide the necessary financing. Founded in 1994, Paragon Financial offers FAST-GROWING companies an alternative to bank financing. This is beneficial when banks either WILL NOT loan or offer TOO LITTLE funds. We at Paragon can promptly supply a steady stream of cash through Invoice Factoring. The Problems You May Face: If you owe the government money, and you ... Read More

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