Convertible Notes vs SAFE’s – Accounting/Tax Considerations
Disclaimer: The terms below are discussed in the context of financing that occurs in the United States for Early-Stage Technology companies. We would strongly advise anyone to seek out a professional to help with their individual company circumstances. Earlier this...
Clarification on IRS updated Tax Deadline
Due to the ongoing COVID-19 pandemic, the IRS had delayed the yearly April 15th tax deadline to May 17th. This delayed deadline does not affect Corporate tax filings. Below we've collected answers to common questions about the new deadline. Who does the delay apply...
Revenue Recognition for SAAS Companies
Founders, as you embark on your journey of starting your SAAS-based business one thing that will come up time and time again will be the concept of ‘Revenue Recognition.’ What is revenue recognition you may ask? Revenue recognition is the process of recognizing...
Federal R&D Tax Credit for Tech Founders
https://youtu.be/HiaOI5U-Kwo Founders, there is a powerful tax credit that can help put cash back into your startup, offsetting up to $250,000 of Payroll taxes per year for qualified small businesses. For businesses that don’t meet the qualified small business...
2021 DELAWARE ANNUAL FILING
The Delaware Annual Filing is due on March 1st, which is just a month from now. So make sure to be on the lookout for an email from your registered agent in Delaware. You can sometimes use their portal to file an entire annual report. You will need your file number,...
Akshay’s tips for getting your Tech Company’s books ready for Tax-time
Use an Accounting System: QuickBooks Online, Xero, among other tools are great systems to keep your tech companies’ finances organized and in one place. We love using QuickBooks because bank and credit card transitions directly sync daily. Care must be taken to...
1099 Tips for your Tech Startup – 2021
https://youtu.be/pKmnbEYv_zk Founders, for 2021, there is a new tax form to report payments to contractors - 1099-NEC. This form is different from the 1099-MISC form, previously used to report payments to contractors. The threshold is still $600, and the...
Our Team is Bill.com Certified
Let SHAY CPA P.C. help your startup with its A/P and A/R process. Each of our accounting staff members is certified in using Bill.com which helps set up a process for payments. This is great for companies that need a simple process for bill-pay/receivables management,...
PPP Forgiveness for Early-Stage Technology Companies
Learn about the PPP forgiveness process as it applies to early stage technology companies. https://www.youtube.com/watch?v=8Bk-itCfkuk&feature=youtu.be