Posts Tagged ‘Cash’
The Rise of Cashless Payments: Pros and Cons for Small Business
In recent years, small businesses have increasingly adopted cashless payments, favoring credit cards and payment apps like Venmo, Google Pay, Apple Pay, Square, and PayPal over traditional cash transactions. This shift towards a cashless economy has significant implications for business operations, customer convenience, crime reduction, and bookkeeping. Here, we explore the advantages and disadvantages of…
Read MoreWhat’s the most important thing in a young business?
Cash is everything to a new business. How many times do we have to say this? The days of being able to trust that there will be an investor or lender on the other end of a call or email whenever needed ended with the 2000 and 2008 bursts of those respective bubbles. It’s entirely possible…
Read MoreSpecial Tax Concerns for Cash Businesses
Many small businesses do some or all of their transactions in cash. This raises some special issues and concerns. Technically, being paid in cash doesn’t make a difference in terms of income taxes; cash transactions are reported as any transactions by check, credit card, or electronic transfer. However, there are some unique issues that those…
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