Stripe is testing cash advances, following Square and PayPal’s moves into business finance | TechCrunch

Stripe, the fast-growing payments startup that is now worth over $9 billion, is working on a new product to help it fill out some of the gaps in its product suite as it bids to become the go-to financial services partner to startups and other businesses.

Source: Stripe is testing cash advances, following Square and PayPal’s moves into business finance | TechCrunch

The 3 Types of Income and How They’re Taxed

Earned, interest and passive income are three distinct forms of income you may have, and a variety of different tax implications your income might have. With that in mind, here’s a rundown of the three main categories of income and what each one could mean to your tax bill.

Source: The 3 Types of Income and How They’re Taxed

Square is considering offering investment and savings products through its Cash App 

Square has more ambition than to be a competitor to Venmo and Paypal. It wants to be your bank.  BTW, I have a Cash App account, and I use it to budget for discretionary expenses.

“Anything you do today with a bank account, you should look to Cash App to begin to emulate more and more of that,” says Square CFO Sarah Friar.

Source: Square is considering offering investment and savings products through its Cash App – Recode 

 

Amazon launches Storefronts portal to court Small Businesses

Amazon has launched Storefronts, a new section of its site that only lists products sold by small businesses. This seems to be a bid to compete with Shopify, Etsy and other e-commerce portals. The portal is a sort of promise ring to the SMB community that sells on Amazon, as it vows to promote smaller companies and help their products stand out among the millions of businesses that sell on the site.

Source: Amazon launches Storefronts portal to court SMBs | ZDNet

What You Don’t Know About Insurance Is Costing You 



Whether its health, life, car or home insurance, it is good to research and get enough insurance coverage.
“Not having adequate liability insurance is one of the most common holes in a financial plan,” Hearn says. “Paying a big judgment out of your own pocket could be financially devastating.”

Source: What You Don’t Know About Insurance Is Costing You – The Simple Dollar

How to Pay Estimated Taxes as a Single-Member LLC 

When I taught a class about bookkeeping for creative entrepreneurs, my first rule was this-> -> Keep Them Separated.  Keep your business income and expenses separate from your personal income/expenses.  If you do this, filing taxes will be less of a headache.

Your business’s income is your income. This is completely counter-intuitive because when you start filing all of your LLC paperwork and setting up your business bank accounts and all of that, everyone will tell you to keep your business income/expenses separate from your personal income/expenses. Don’t let clients deposit paychecks into your personal bank account. Don’t put business expenses on your personal credit card; if you need to fund your business with personal income (and many new businesses do), transfer the money to your business bank account and record it as a capital contribution.

Source: How to Pay Estimated Taxes as a Single-Member LLC – The Billfold