Like most small-to-medium-sized businesses, you likely make periodic tax payments. If you have employees, you also must forward any tax withholding from their paychecks on a regular basis. Other tax obligations include unemployment taxes, excise taxes and franchise taxes. Even with careful bookkeeping, meeting these periodic tax obligations can put a considerable strain on your business. Factoring can help you with end-of-year tax payments.
Factoring Does Not Complicate Your Taxes
Although it has been around for decades, many business owners still do not understand factoring. Non-recourse factoring from JOBE Services, Inc. allows you to get cash fast for your unpaid invoices. Many service-oriented businesses operate on an invoice basis – you perform your services and present clients with an invoice for payment. Most invoices have 15- to 30-day terms, but some can allow 60 or even 90 days for payment. That is a long time to wait for your money.
Factoring is a completely legal and ethical way to get cash for your invoices when you need your money now. For a set fee, JOBE Services, Inc. gives you cash for your invoices that are yet to be paid, and then we collect the invoice payment from your client according to your invoice terms. You get your already-earned money faster, for pressing things like end-of-year tax payments or other obligations.
And, factoring does not complicate your taxes like a short-term loan or selling off assets for cash. It also does not harm your credit, since we do not rely on your credit to determine your factoring eligibility. In fact, we don’t check your credit at all. We rely on the good faith of your clients to pay their invoices within the allotted time.
Factoring and Your Accounts Receivables
Many small or medium-sized businesses across Texas use factoring as a regular part of their accounts receivables process. Others only use it if cash happens to be tight; some have only used our services one time. We require no long-term contracts and there are no hidden fees for our factoring services. We also offer non-recourse factoring for your stability and peace-of-mind.
Why not call JOBE Services, Inc. today and learn more about how businesses just like yours use factoring to keep the bills paid? We are locally based in Humble, Texas, and proudly serve many industries that are vital to our state’s economy. Contact us today for help paying your end-of-year tax payments without incurring troublesome debt.