Corporations and other types of businesses report income quarterly. Business income tax is best filed through a Certified Public Accountant. Ask them to send brochures on reporting and filing requirements. These publications explain the characteristics of and procedures for filing business income. Remember, an appropriate record keeping system can determine the survival or failure of a new business.
Accredited accountants specialize in small business accounting.
An example is a short-term construction loan to build a warehouse. When the building is complete, a long-term commercial mortgage is used to pay off the construction loan. The mortgage, similar to a home mortgage, is paid back over a number of years. Yes, typically it is not the type of business that matters, but rather the creditworthiness of the guarantors, the financial performance of the business and the collateral pledged. Consequently, business owners often pledge personal assets to obtain a loan.