Take Action Now: Be Ready for Next Tax Season

Personal tax day has come and gone (May 17th). Depending on the structure of your business and financial circumstances, your company’s tax situation may vary. But every year, the obligation is due.    Paying taxes isn’t fun for anyone, but limit the stress by preparing for next year, starting now. A little preparation helps [...]

Understanding Saas COGS

Managing your Saas COGS (Cost of goods sold) is a critical element of running any business. Often, when someone mentions COGS there’s this natural tendency to think of physical products and manufacturing companies. Admittedly, production or retail can be the most understandable application of COGS.  But running a SaaS business doesn’t mean COGS are [...]

By |2021-06-03T15:18:35+00:00April 20th, 2021|Accounting Services, Entrepreneurship, Startups|0 Comments

Startup Tax Problems: 8 Common Mistakes

Startup tax mistakes waste time and cost money. Plus, taxes are a complex topic that many, outside of industry professionals and tax specialists, struggle to understand. As a result, many startup founders choose to ignore taxes altogether, not wanting to slow down or spend valuable resources on it.  They assume their energy would be [...]

Startup Taxes 101: How to handle filing your business

Filing tax returns is a very important aspect of running a business, startup or not. For most startups, the act of filing taxes is either sidelined due to operational pressures or management is stuck without an idea of how to go about filing. These days, just about everything is taxable. As a result, it [...]

SaaS Accounting 101: Financial Fundamentals

Is Saas accounting different than accounting in any other industry? The answer of course is: absolutely! Since the end of the last century, the software industry has grown massively. In the last decade especially, many software companies have emerged and made the switch from selling software as a product to software as a service [...]

How to Conduct Pricing Analysis in a Startup

Every startup needs to conduct a pricing analysis as frequently as possible. This is necessary to determine appropriate prices for products and services. Most times, information obtained from the pricing analysis feeds into the final pricing estimation of product offerings. How strategic is your pricing analysis for your startup?  What is Competitive Pricing and [...]

By |2021-02-25T19:27:15+00:00February 23rd, 2021|Accounting Services, Entrepreneurship, Startups|0 Comments

Can You Defer Taxes With NSO Election?

Can you defer taxes with an NSO election? The IRS introduced Code Section 83(i) as a part of the Tax Cuts and Jobs Act 2017. Based on this code, the staff of private companies that receive NSOs (non-statutory stock options) or RSUs (restricted stock units) can elect to defer on Federal Income Tax. This [...]

By |2021-02-25T19:42:53+00:00February 16th, 2021|Accounting Services, Entrepreneurship, Startups, Taxes|0 Comments

How to Maintain Startup Budget and KPIs Throughout the Year

There are a vast number of resources available surrounding a “startup budget.” Many of these articles and guides are fantastic. (There are even several beneficial articles for creating a budget on this blog.) But the best budgets are only pieces of paper — if you don’t use them to better run [...]

What Happens if You Change from LLC to S Corp?

Are you considering a change from LLC to S Corp? Maybe, like many entrepreneurs, you founded your business as an LLC (Limited Liability Corporation). Many founders go this route, and it generally makes sense when starting out. Especially those with a single owner or small number of partners, it’s the optimal default legal structure. [...]

Tax Readiness Checklist (5 Things You Must Do)

Each year, businesses file their taxes. The season includes hard deadlines, fees, not to mention potential fines and other penalties imposed by the IRS. Add these to the fact that you (potentially) have to pay a portion of your profit — it all equals a stressful time for many startups and entrepreneurs. As with most [...]

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