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 [...]
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 [...]
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 [...]
What crypto tax risks do you need to be thinking about? It is no secret that blockchain is among some of the most exciting emergent technologies of the twenty-first century. In the last few years, cryptocurrency has grown in popularity with several top financial minds endorsing investments in it. Despite becoming so popular, one [...]
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 [...]
Financial modeling is crucial for businesses, especially when circumstances change. The COVID-19 pandemic has left a lasting impact on the economy with businesses and governments facing uncertain times. This new normal has emphasized the importance of building business resilience. However, this can only happen if companies put [...]
Forecasting best practices are cricital for startup success. It gives you a clear idea of where your financials are heading if you stay the course, if you change your strategy or if you come across a worst-case type of scenario. But for a startup, they mean a lot more. Forecasts for [...]
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 [...]
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 [...]
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. [...]
