Businesses and individuals, sometimes due to no fault of theirs, get to lag behind on their taxes and fees. When this happens, the IRS and others need to get their money and this can result in the garnishment of their bank account. Bank account garnishment is a situation where a debt collector has successfully sued…
A bank account levy can be described as a situation where the IRS seizes the funds in a particular bank account to cover the tax debt of the owner of the account. It should be noted that the IRS can legally seize a single-member limited liability company (LLC) property to satisfy taxes if the owner…
The Federal Deposit Insurance Corporation (FDIC) was created because of a great need in the financial industry in the United States. The body was created in 1933 as part of the U.S. federal government’s response to the stock market crash of 1929 and the Great Depression that followed. The insurance came to life in the…
A personal checking account is more or less the first introduction to the world of finance. It is quick, easy, and a great way to track expenses. With the face of the check covered with images of sports, puppies, landscapes, or graffiti, a personal check is also a statement of individuality and one more fun…
From a banking perspective, yes it is possible to transfer money from your business account to your personal account. Banks will not stop you from any transactions that you execute in the scope of the legal access and fund availability you have in any of these accounts. What is the Legal Implication? However, the implication…
Do you want to accept payments online for your business but you are concerned about transaction safety? If YES, here are 5 best and safest ways to accept credit card payments online. One of the greatest gains of technology cum the internet is the redefinition of the payment system that is accepted by businesses all…
Do you want to open a merchant account to accept credit cards online but lack the know-how? If YES, here is how to get a merchant account fast for your business. Irrespective of whether you intend to run an Online business or you want to toe the brick and mortar line, accepting credit cards is…