409A Valuations and Startups: Protecting Owners and Employees Alike

Offering stock options to employees can be a win for both owners and workers — but chances are you’ll want a 409A valuation beforehand. A 409A valuation protects the company in the event of an IRS audit and ensures your employees aren’t faced with an unfair tax burden come tax time. This guide to 409A [...]

By |2019-05-23T16:19:26+00:00February 22nd, 2019|Financial, Startups|0 Comments

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 [...]

Pass-Through Deduction: A New Wrinkle in Choosing to Form an S-Corp

Accountants have often recommended that entrepreneurs convert their growing businesses into an S-corporation. This is due to a combination of legal and tax benefits. However, after tax reform and the new Section 199A pass-through deduction, S-corporations may not have the same tax benefits. Here's what happened.   The Traditional Tax Advantage of S-Corporations The main [...]

By |2019-04-30T16:25:10+00:00December 14th, 2018|Financial, Taxes|0 Comments

Making the Most of R&D Tax Credit

If your business isn't claiming R&D tax credit, you could be throwing money away. You don't have to be a huge company to take advantage: In fact, many small businesses can even use the credit to cover Social Security employer taxes. The definition of research and development is also wider than you might realize. Here's [...]

By |2019-04-30T16:27:06+00:00December 14th, 2018|Financial, Taxes|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 |2019-04-30T16:48:25+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 |2019-04-29T16:47:54+00:00November 1st, 2018|Accounting Services, Entrepreneurship, Financial, Startups|0 Comments

5 Things to Know about Accounting for a New Business

So you’ve always had the idea and dream of starting your own business and you are financially/professionally ready to put it into action. It has taken a lot of hard work and determination to get to this point and your next steps are crucial to the longevity of your new entity. Whether you took [...]

By |2017-08-29T23:43:32+00:00August 29th, 2017|Accounting Services, Financial|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

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 [...]