As Commercial Team Leader at Terrace Finance, I receive a lot of questions around Section 179 of the tax code this time of year. If you own a business that needs to buy equipment, then you really should know what Section 179 is and how you can use it to your advantage. I’ve compiled some…
Having a beautiful healthy lawn adds curb appeal and provides a wonderful backdrop for outdoor activities. Here are 5 easy steps you can do this year to keep your lawn looking beautiful all season. 1.Rake I know it is not the most exciting way to spend an afternoon, but raking your lawn with a flexible…
Save Time Maintaining a beautiful lawn takes a lot of time and effort. Having a mower that is old and faulty makes maintaining your lawn even more difficult. The endless cost of repairs and chasing down new parts can double the amount of time you spend and eats into your already busy schedule. With a…
Drain and replace the fuel and filter. Modern gasoline does not have a long shelf life. So if you did not remember to add a fuel stabilizer it has probably gone bad over the winter season. Simply drain the old gas by pulling the hose off of the main gas line. Once it is finished…
What is section 179 of the tax code? If you own a business that needs to buy equipment, then you really should know what Section 179 of the tax code is and how you can use it to your advantage. Section 179 is a very straightforward tax incentive for small to medium-sized businesses created by…
In turbulent times like these, even strong, stable businesses can experience credit challenges that make it harder for them to get the equipment they need. As lenders tighten their belts, restrict lending to some types of businesses, and reduce the range of acceptable credit ratings, reasonable lending options can be difficult to find. In the…
On Friday, March 27, the CARES Act was signed into law providing $349 billion in small business stimulus funding by way of the Paycheck Protection Program (PPP) with a goal of preventing business failures and job loss resulting from the COVID-19 crisis. The CARES Act also expanded the Economic Injury Disaster Loan (EIDL) program. The…
It was just 2 weeks ago that the Coronavirus began to make news in the US. Now the enormity of the health crisis facing our country and the effect it is having on our economy has become apparent. This was impossible to predict and difficult to plan for. Small businesses, the backbone of our communities,…
A capital improvement plan (CIP) is a dynamic community planning and fiscal management tool used to coordinate the location, timing, and financing of capital improvements over a multi-year period. However, many expenditures are not part of the CIP. It is important to distinguish between a capital project to be included in the CIP and an…
For many consumers, the purchase of a medium to big-ticket item can be challenging to afford all at once. A lease is an appealing alternative for customers who are looking to pay over time for a product. Leases offer lower interest rates than most credit cards, and cover purchases for items that banks don?t deal…