How to improve your business credit?

Robert C Olivieri, Jr, a small business and real estate owner since 1978, has a few suggestions and tip on improving your business credit.

•Pay your bills on time. It should go without saying that your credit scores are largely dependent on how you treat the credit you are given. Pay your bills on time, all the time (especially your accountant). There is no trick here, but in this economy it may be so easy.

•Report vendors and partners that you do business with regularly. Many of a business’s creditors do not report back to the credit agencies. To make matters worse, transactions are usually reported only when business issue goes south and there payment challenge issues. But there is a bright side to this problem; many credit agencies allow you to report your trade references directly. For instance, you can furnish trade references to the "Dun & Bradstreet Credibility Corporation" and, once verified, they will be included in your credit report.

•Provide Information. You may be surprised to learn how little is really known about most businesses in America. Given the enormity of the market and its constant state of change, it is nearly impossible to keep up. There are approximately 30 million businesses in the U.S. and more than 600,000 new businesses created each year. Credit agencies are constantly playing catch up. Many of these agencies allow you to be proactive and provide more information about your sales, profits, number of employees, stores and other factors that affect credit. All of this will help to build a complete report which inevitably leads to a more accurate credit score.

For more assistance on this and other related matters, contact our firm now at 215.550.3636 and ask for Robert C Olivieri, Jr, also a CPA for over 20 years. You also may email him at rcojrproperties@gmail.com

IRS Conduct and Income and Asset Levies

Generally, the IRS is prohibited from taking a taxpayer’s income and assets, if such taking will result in an undue hardship to the taxpayer. The IRS is also barred from taking certain specified exempt assets. Additionally, Revenue Officers must conduct themselves in a professional manner and must provide taxpayers with reasonable time frames to respond to their requests. Unfortunately, not all Revenue Officers respect these limitations and sometimes conduct themselves in a discourteous manner and act without regard to the financial impact of their actions against taxpayers.

If you are in this type of situation, you need to call the firm of Robert C Olivieri, Jr PC for prompt resolution. We have night time and weekend hours for your convenience. Call us now at 215.550.3636. We will get you back on tract.

Payroll Tax Problems

Failing to properly file and pay payroll taxes is a serious matter. If the employer fails to timely file and pay payroll taxes, the IRS is authorized to collect these taxes from the business or even a person or persons who are responsible for withholding and paying these payroll taxes to the IRS.

The IRS typically employs Revenue Officers to work on collecting payroll taxes and to investigate the financial health of the business. Failure to correct a delinquent payroll tax matter could result in the closure of the business and liquidation of the business assets.

Call the offices of Robert C Olivieri, Jr PC for resolution of your personal or business tax challenges. We are available right now at 215.550.3636. We have convenient hours. Why wait, call us now.

The Junker Credit

The Junker Credit. Here we go again. Those who purchased those gas guzzling trucks and trade them in for a better miles per gallon vehicle will receive a break, courtesy of President Obama. When will these breaks for the "do wrongs" end.

What about us "do rights"?

What are the "do righters" getting out of never buying a gas guzzler?

S Corporation vs C Corporation

Does your accountant really know the differences between the S and C Corporations? They, most likely, tell you there is double taxation with a C Corporation. Right?

Call Robert C Olivieri, Jr now at 215.550.3636 for an analysis of the type of business you should be filing under with the Internal Revenue Service.