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How a tax extension can delay a business loan application

Published Tue, 25 Feb 2025 01:26:53 GMT

About 19 million individuals and businesses filed for an extension on their tax returns last year, many due to unexpected circumstances such as IRS backlog delays. No matter the reason, filing for an extension only gives you more time to file, not to pay, which can put you at risk of overpayment, or hefty late payment fees if you underpay based on your estimation.In addition to these risks, filing for a tax extension can also affect a business’s ability to get financing. If you’re planning to apply for a business loan this year, understand the impact an extension could have so you can keep your finances on track.HOW TAX RETURNS FACTOR INTO BUSINESS LOAN APPLICATIONSWhile every institution is different, most traditional lenders and banks look at profit and debt service coverage ratio, or DSCR, as key factors in determining a business’s ability to repay a loan. Profit is revenue minus expenses, while DSCR speaks to a business’s ability to take on new debt while covering current debt o...

Lithuania seeks compensation from Belarus for migrant crisis

Published Tue, 25 Feb 2025 01:26:53 GMT

VILNIUS, Lithuania (AP) — Lithuania is seeking up to 120 million euros in compensation from Belarus, accusing its eastern neighbor of orchestrating the immigration of thousands of people, mainly from Africa and the Middle East. Since 2021, when the European Union imposed sanctions on Belarus and its longtime authoritarian president, Alexander Lukashenko, the number of people seeking to cross into Lithuania and enter the EU has dramatically increased. The foreign ministry said Thursday it has handed over a diplomatic note to Belarus, demanding compensation. Justice Minister Ewelina Dobrowolska said Wednesday that “what the Belarusian regime is doing is not a natural migration route.”Lithuania erected a barbed wire fence along its 679-kilometer (422-mile) border with Belarus after thousands of migrants crossed into its territory in 2021.Since mid-2021, Lithuania has refused entry to a total of 20,000 migrants from Belarus. In August 2021, Lithuanian border guards were given the right ...

Man critical after being shot in the face on North Side

Published Tue, 25 Feb 2025 01:26:53 GMT

CHICAGO — A 23-year-old man was shot in the face on the city's North Side.The shooting happened around 10:30 p.m. Wednesday in the 3100 block of West Carmen. Police said officers responded to a person shot and found the man with a gunshot wound to the face.The 23-year-old was transported to St. Francis Hospital where he is listed in critical condition. The victim told police he was approached by several men who began shooting and then fled the scene on foot. Firefighter dies after Gold Coast high-rise blaze; second in last 2 days No one is in custody and Area Five Detectives are investigating.

Thursday Forecast: Mostly sunny and windy, low 50s

Published Tue, 25 Feb 2025 01:26:53 GMT

CHICAGO — Thursday's forecast is looking mostly sunny and breezy with a high of 52 degrees. Temperatures are expected to fall into the mid-30s under clear skies with wind chills in the upper 20s. Friday brings sunny skies with weather in the mid 50s but mid 40s on the lakeside. Saturday: Mostly sunny and highs are low 60s Lower 50s closer to the lake. Clouds and temperatures increase Easter Sunday with inland highs in the mid-60s and m,id-50s lakeside.

Snnaaake! S. African pilot finds deadly cobra under his seat while inflight

Published Tue, 25 Feb 2025 01:26:53 GMT

CAPE TOWN, South Africa (AP) — A pilot in South Africa made a hasty emergency landing after discovering a highly venomous cobra hiding under his seat.Rudolf Erasmus had four passengers on board the light aircraft during Monday's flight when he felt “something cold” slide across his lower back. He glanced down to see the head of a fairly large Cape Cobra “receding back under the seat,” he said.“It was as if my brain didn't know what was going on,” he told The Associated Press.After taking a moment to compose himself, he informed his passengers of the slippery stowaway.“There was a moment of stunned silence,” he said. Everyone stayed cool, especially the pilot.Erasmus called air traffic control for permission to make an emergency landing in the town of Welkom in central South Africa. He still had to fly for another 10 to 15 minutes and land the plane with the snake by his feet.“I kept looking down to see where it was. It was happy under the seat," Erasmus said. “I don't have a big fea...

Residents of 12 east Austin apartment units displaced after fire caused by smoking materials

Published Tue, 25 Feb 2025 01:26:53 GMT

AUSTIN (KXAN) -- Residents of 12 units in an east Austin apartment complex were displaced after an overnight fire late Wednesday. It happened at the Mueller Flats Apartments on Clayton Lane, near the intersection of I-35 and Hwy 290. The Austin Fire Department responded to the fire around 10:30 p.m. Wednesday and found flames that were 10-15 feet above the roof line. The fire started on the third floor balcony because of improperly discarded smoking materials, according to AFD. The fire spread to the attic and second floor, AFD said. Firefighters had to rescue residents who were trapped on the third floor. AFD said no one was hurt in the fire.Residents of 12 units at Mueller Flats Apartments were displaced after a fire caused by smoking materials (Photo: Austin Fire Department)Residents of 12 units at Mueller Flats Apartments were displaced after a fire caused by smoking materials (KXAN Photo/Tim Holcomb)Residents of 12 units at Mueller Flats Apartments were displaced after a fire c...

San Antonio Spurs help refurbish 5 basketball courts around Austin

Published Tue, 25 Feb 2025 01:26:53 GMT

AUSTIN (KXAN) -- The San Antonio Spurs, along with the city of Austin and the Austin Parks Foundation, unveiled a refurbished basketball court in the Dove Springs neighborhood this week as the start of a new program to upgrade some of the parks around the city. The initiative, known as Play ATX, is a $500,000 investment to build and refurbish five basketball courts around the city. The money was donated by Spurs Give and the Austin Parks Foundation (APF). Play ATX planDove Springs District Park was the first park identified to have the refurbished park. Colin Wallis, the CEO of APF said the Dove Springs park had the most need for a new basketball court. "It means a ton. We're super excited to work with the Spurs and the city to get these things done and hopefully it's just the beginning of a whole lot more to come," Wallis explained. The other four courts will be finished in the upcoming years. It is not yet clear which areas will receive the refurbished, Spurs-themed courts, but th...

Local HVAC businesses recruiting at BOCES job fair

Published Tue, 25 Feb 2025 01:26:53 GMT

ALBANY, N.Y. (NEWS10) -- Over a dozen local HVAC businesses will recruit employers during a job fair on Thursday from 4 to 6 p.m. at the Captial Region BOCES Career and Technical Education Center's Albany Campus, located at 925B Watervliet-Shaker Road in Albany. The event looks to connect high school and adult students with employers but is also open to the public. Get the latest, news, weather, sports and community events delivered right to your inbox! According to a spokesperson from the Capital Region BOCES, the HVAC/R industry is expected to grow by 6.5% in the next seven years. A 20,000-worker influx into the HVAC/R tech industry is expected, according to federal labor statistics.

5 things to know this Thursday, April 6

Published Tue, 25 Feb 2025 01:26:53 GMT

ALBANY, N.Y. (NEWS10) -- Happy Friday eve! According to Meteorologist Jill Szwed, fog is taking over now that the rain has moved on. However, you shouldn't put away your umbrella just yet. Get the latest, news, weather, sports and community events delivered right to your inbox! A fire on Grand Street in Albany Wednesday morning displaced over a dozen people. In a press conference held later that day, Albany Mayor Kathy Sheehan, with other city officials, said multiple buildings involved would have to be demolished. Also, a gas leak in Troy caused road closures and evacuations. Those stories, Delmar Bistro closing, the "Crossing with Dignity Act," and Barstool Sports founder Dave Portnoy buying a house in Saratoga Springs are all covered in your five things to know this Thursday morning. 1. Troy: Gas leak causes road closures and evacuationsOn the corner of Hutton Street and 15th Street, National Grid crews remained on scene to finish repairing a gas break from Wednesday morn...

Bollinger County tornado confirmed an EF-2, peaked at 130 mph

Published Tue, 25 Feb 2025 01:26:53 GMT

GLENALLEN, Mo. - National Weather Service officials confirmed that an EF-2 tornado ripped through southern Missouri early Wednesday morning.According to NWS, the twister formed in Bollinger County around 3:30 a.m. and lasted nearly half an hour. It peaked with gusts up to 130 miles per hour with a 22-mile path length and a 150-yard path width.Five people died, and four people were hurt in Wednesday's storms, per NWS. Trending: St. Louis-area April 4 municipal election results Much of the destruction happened in the Glenallen and Grassy communities near Marble Hill, Missouri. There was extensive damage to homes, uprooted trees and crushed cars. Debris remains scattered around many homes and roads, while a local fire station was also destroyed. The NWS tracked the tornado from two miles southwest of Grassy to three miles west of Millersville. Hundreds of trees are snapped, while dozens of homes and farm buildings along the path sustained major damage. Fire crews from Kirkwood, Flori...