Small Business Blog Posts | Page 4

With more businesses adding the option to tip following a purchase, combined with prices going up, many customers are fighting back with their wallets. Tipping actually decreased from 2022 to 2023 according to a report from our top payroll systems systems recommendations,  Gusto.

The best way to accept donations online is going to be the way that works best for your organization. It matches your budget, feature needs, and performance expectations to make it easy to take online payments and raise funds for your cause.

Learn how to set up Gusto payroll in this full video walkthrough. See the setup process step-by-step in real time so you can know exactly what you’re getting into before setting up your Gusto account.

It will cost you more for features you might expect to be standard (reservations, customer loyalty, and online ordering to name a few) which can run up your monthly bill. There are fewer integrations available which is a blessing for easily-overwhelmed new business owners but a curse for quickly growing restaurants.

Many kinds of businesses fall under the “food service” umbrella, including full-service restaurants, quick-service establishments, bars, and food trucks (or other mobile food operations). Some of these benefits will be better suited to one kind of eatery than another.

Every payment processor you research will have some form of fee you have to pay for every successful transaction. The best POS systems for small businesses offer reasonable flat-rate charges or interchange-plus fees. Small businesses will benefit from flat-rate payment processing, while high-volume businesses should consider interchange-plus processing for the best rates.

Bonus depreciation is a tax incentive that allows businesses to write off a large percentage of the cost of an asset in the first year it’s placed into service. In 2024, 60% of the cost of qualified property can be written off in the first year it’s placed in service.

An ERC bridge loan is a short-term loan that is used to “bridge” the cash flow gap between the time a person applies for the Employee Retention Credit and when their refund is received months later.

Mobile credit card readers offer flexibility and efficiency for businesses of all sizes and types. From saving on processing fees to enhancing customer experience, the advantages are clear. And as technology continues to evolve, staying updated with tools like these can significantly benefit your business’s bottom line. Before making a choice, it’s wise to explore the best credit card reader options tailored to your business needs.

If it’s too late for you to withdraw your ERC request, but you know that the request is invalid and that you weren’t actually eligible for the employee retention credit, you may be faced with filing error penalties and/or held responsible for repaying the employee retention credit.