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How Can I Avoid Business Overdraft Fees?
A business overdraft fee is a charge that your company incurs if you attempt to spend more than what is available in your business checking account. The costs vary from $10 to over $30 per transaction. Bank overdraft fees are more prevalent than people realize, so even the most conscientious business owners may encounter these […]
Should You Take Out a Line of Credit to Cover Business Overdraft Fees?
No business owner wants to be in the red or pay avoidable fees — but when it happens, it’s important to have a plan. Setting up a line of credit to cover your businesses overdraft fees is one option.
Are Overdraft Fees Deductible for a Business?
When it comes to filing your taxes, no business expense is too insignificant to consider. Even the smallest fees — such as overdraft fees — are important to reducing your overall tax burden…but they’re often overlooked.
What Happens if Your Business Bank Account Has “Insufficient Funds?”
Many people don’t want to endure the embarrassment of a declined transaction due to insufficient funds in their bank account. Banks realized this, and they’ve developed a fee structure to help customers and businesses avoid that situation.
What is Overdraft Protection? Understand Why Your Business Needs it
Overdraft protection is a line of credit that banks offer to businesses to cover overdrafts. Overdraft protection kicks in when the business writes a check or completes a transaction for more than the amount in their account.