Building an Effective Budget for Startups and Small Businesses

For many companies, the budgeting process has become an activity that adds little value. One survey of 130 CFO’s found that only 17% of participants would describe their organization’s approach to annual budgeting as “very valuable." Establishing a reliable and an effective budgeting process early will help you avoid this common problem. With an [...]

New Business Accounting Checklist

Understanding your accounting and reporting requirements can be daunting for any startup owner. Compliance is time consuming, and mistakes can lead to hefty fines. This new business checklist will give you the framework necessary to educate yourself on accounting processes for startups and small businesses. Following these steps can help you launch your business [...]

By |2018-12-27T17:48:15+00:00December 27th, 2018|Accounting Services, Entrepreneurship, Startups, Taxes|0 Comments

Is Your Crowdfunding Campaign Taxable? What to Know Before You Launch

Are you thinking about launching a crowdfunding campaign? Did you know you might have to pay income taxes? Read this before you launch. Is Crowdfunding Taxable? Crowdfunding for a business is almost always taxable. That's because the contributors almost always get something in return. Taking someone's money and giving them something is a sale. It doesn't matter [...]

By |2018-11-19T22:17:05+00:00November 21st, 2018|Accounting Services, Startups|0 Comments

Cash Basis Accounting vs. Accrual Accounting

Running a business means dealing with bookkeeping and accounting. There are two ways of accounting: cash basis accounting and accrual accounting. Here are the differences between the two methods, examples of each, and the pros and cons of both methods. As stated by Investopedia: The main difference between accrual and cash basis accounting lies in the [...]

By |2018-11-02T17:16:30+00:00November 3rd, 2018|Accounting Services, Financial, Startups|0 Comments

Five Ways an Accounting Service Can Improve Your Small Business

Whether you own a global Fortune 500 corporation or a small local retail store with three employees, your financial operations are at the very core of your business. Finance is the one common denominator of all business concerns. While your product or service might represent the heart and soul of your company, money is the [...]

By |2018-11-02T17:16:13+00:00November 1st, 2018|Accounting Services, Entrepreneurship, Financial, Startups|0 Comments

Q&A on Mobile Accounting’s Industry Impact– What to Expect?

Recently Eileen O’Loughlin, Mobile Accounting Analyst for the online technology consultancy Software Advice, released a new report which studied the growing trends of mobile accounting on the industry. We had the opportunity to talk with Ms. O’Loughlin to learn a little more about what her research uncovered. Q: What is the difference between [...]

By |2017-03-24T15:22:05+00:00March 24th, 2017|Accounting Services, Startups|0 Comments

Evaluating an Entrepreneur With One Simple Question

As a Certified Public Accountant that works predominantly with entrepreneurs and startups, I've been lucky enough to rub elbows with some highly successful business men and women.  What often intrigues me when I consider both my most successful clients and some of the clients who struggle to maintain a sustained level of success is their reaction [...]

By |2017-03-03T14:57:57+00:00February 10th, 2017|Entrepreneurship, Startups|0 Comments

Startup Founders– Find Out When to Outsource Bookkeeping

According to a recent survey, 58% of business owners working 60 or more a week said bookkeeping was draining, and almost half of small business owners said it was their least favorite task to complete.  In my experience working with startups and small businesses, this does not surprise me.  In fact, I thought the [...]

By |2017-03-03T14:57:57+00:00January 30th, 2017|Accounting Services, Entrepreneurship, Financial, Startups|0 Comments

Startup founders– Avoid “CEO Syndrome” at all costs

Throughout my time working with startups and entrepreneurs, I've had the pleasure of getting to observe the rapid growth of some very successful ventures, and the decline of others.  I've seen companies scale into 10x growth year over year, and have been lucky enough to work alongside them throughout their journey.  As a result, I've [...]

By |2017-03-03T14:57:57+00:00January 29th, 2017|Entrepreneurship, Startups|0 Comments

A Guide to Prepare 1099-MISC Forms Before the Due Date

You only have a a few days left to prepare and distribute your 1099-MISC forms to your contractors from 2016.  The forms are due to your contractors by January 31st, 2017. The 1099-MISC form reports the total amount of payments you or your company paid to a single person or entity during the previous calendar year. Contractors use [...]