Are Factoring Fees Tax Deductible?
Most accountants agree that factoring fees are a business cost and should be treated as any other expense. It is always advisable to consult your accountant before entering into any factoring arrangement. Back to Top How Do Customers React When Notified to Forward Their Payments to a Factor? This is not a problem if the notification is done in a positive and professional manner. JMG Financial Solutions will guide you and even provide sample letters which have successfully been used in the past to insure a smooth transition in payment arrangements. Maintaining your customer’s “goodwill and confidence” are of utmost importance!!! Back to Top Can I Factor My Invoices Without Notifying My Customers? Yes, it is known as confidential or non-notification factoring when the factor takes assignment of accounts receivable without advising the client’s customers of the financial arrangement. The client continues to handle all collections and the payment to the factor. This type of arrangement pla
