Over this last year, I’ve heard the term the ”new” normal over and over because life during this pandemic has been ”odd.” I am happy to see that life is starting to get back to normal. One of my favorite pastimes – baseball – is back! And many stadiums have increased their capacities. I don’t know about you, but I am ready to relax and watch some baseball after the long year we’ve had.
Life must go on, and many business owners are in the recovery phases – some are even looking to expand! Others are looking at their finances and considering savings options needed and how best to utilize their stimulus payments.
You might be thinking about financial decisions you can make. It could be upgrading your current supplies, like buying that decked-out truck, or maybe buying a bigger house to fit your growing family.
Since money doesn’t grow on trees and these BIG changes can often require more money than you have right now. You might be thinking about taking out a loan to make some of your desired purchases. The process of getting a loan can be a bit more difficult for you as a self-employed professional. Unlike employees, self-employed individuals don’t have pay stubs or W-2s to send your lenders.
Many lenders will require the past two year’s income tax returns and a current profit and loss statement. Abacus CPAs, LLC can provide a Compilation of your current income and expenses to send to a lender in a format your lender can easily read and understand.
If you are behind on filing income tax returns, this is a great time to get caught up on those filings. Contact Abacus CPAs, LLC at 417-380-5000 if you need assistance providing a profit and loss statement to your lender.
At Abacus™ CPAs, our focus is you! Contact us today if you need help or more information on this valuable topic.
We believe that our employees and clients deserve to interact in an environment that fosters growth, trust, and confidence. Abacus™ professionals provide leadership by relentlessly pursuing the best guidance possible so those we serve can make smarter decisions.
We are here to serve you and your business. Contact us today by calling 417-380-5000, or visiting our website at www.abacustrucking.com.