*The interest rate and Annual Percentage Yield (APY) for these accounts are effective as of October 4, 2023 and are subject to change. Business accounts only. Fees assessed to accounts may reduce earnings. Rates are variable, and are subject to change at any time.
WSFS Bank’s annual 2022 Small Business Trends study found that small businesses are optimistic in their ability to keep revenues at their current pace or even increase them in the next year despite economic woes and strains on their costs.
Today’s economy is creating challenges for many small businesses. Many things seem to be changing quickly. But one important thing has not changed: Section 179 of the IRS Tax Code. When small businesses use financing to purchase certain categories of equipment or software, they can take advantage of a powerful tax write-off.
Whether it’s digital fraud, phishing and spoofing, or check and payments fraud, the reality is that many businesses (71%, according to a 2022 AFP Payments Fraud and Control Survey) unfortunately experience fraudulent schemes or attempts that can cost them time and money.