BOI Update: Reporting Requirements On Pause
Running any business comes with a small mountain of paperwork. There’s all the documentation you need to file at founding. You need to manage your annual filings with the IRS and applicable state tax authorities. You need to periodically renew registrations, licenses,...
Navigating R&D Tax Credits: Maximizing Benefits for Companies
As the year comes to a close, you might be thinking about ways to minimize your 2024 tax bill. At any tech company, that means exploring how to maximize your R&D tax credit. Technically called the “Credit for Increasing Research Activities,” this tax savings...
1099 & Other Year-End Reporting Tips for Your Tech Company | 2025
Founders, as you embark on making sure your tech company is compliant with all of its tax obligations in 2024, a host of deadlines are upcoming for you and your finance team to navigate, which involve information returns (W2s, 1099s, and other reporting). For ...
Your Guide to the 2025 Tax Filing Season: What’s New For 2025?
As the year races past us, it’s nearly time to start preparing to close your books on 2024. And once you do, you’ll need to hand them over to the IRS fairly shortly. While April 2025 might feel like it’s a long way off right now, it can approach quickly. That’s...
Fintech Foundations That Scale
As technology gets increasingly useful, most company founders are encouraged to think about their tech stacks even early on. Basically, your stack is the grouping of software solutions you use at your company. It’s called a stack because, in an ideal world, those...
Exercising Your Stock Options: Important Things to Consider
As a founder, you’ve probably tied up a lot of your energy, time, and resources in your startup. Ideally, that’s going to pay some serious dividends through the years. In fact, if you’re thinking about that future payoff, you might be dreaming about the day you can...
5 Tax Moves You Can Make Before the End of the Year
As we step into Q4 2024, it’s time to start thinking about year-end to-dos. That includes some tax preparation. Maybe your company files its taxes in April or is on its own fiscal year. Either way, there are a few steps you can take this fall and winter to limit the...
Tax Benefits for Founders: Qualifying Small Business Stock (QSBS)
As a founder of a startup, you’re putting your belief in a delayed gratification model. Those early days of building your company will probably be lean. You’ll work nights and weekends in exchange for what’s most likely a small amount of pay. The thinking goes that...
Tax Cuts and Jobs Act Expiration and Its Impact On Tech Founders
In 2017, the Tax Cuts and Jobs Act (TCJA) brought sweeping changes to U.S. tax law — but not all of them were permanent. Some of the provisions from the TCJA are set to expire at the end of 2025. While these expirations primarily affect individual taxpayers, there...
Wave vs. QuickBooks Online: Comparing Two Leading Accounting Softwares
There’s absolutely no reason to manually manage your accounting. Today’s accounting software can do a lot of the heavy lifting for you, from compiling all of your transactions into a single place to creating key financial reports. In fact, the focus shouldn’t be on...
How to Move from QuickBooks Desktop to QuickBooks Online
More and more finance teams are making the jump from QuickBooks Desktop to QuickBooks Online. And it’s not just because the online version maintains the user experience that you’re used to while allowing access from anywhere at any time. It’s because QuickBooks is in...
Refresh Your Finances: Spring Clean Your Bookkeeping to Prep for Your Next Fundraiser
‘Tis the season. As the days get longer and the weather gets warmer, it’s time to undertake the annual chore of spring cleaning. This doesn’t just apply to your abode. Employing a spring-cleaning mentality at your startup — especially when it comes to your books — can...
Our 3 Top Accounting Trends for 2024
2024 is already well underway, but we’re definitely still early enough into the year that it could go any direction. To help our team and clients prepare for what this year will bring, we’ve spent some time thinking about changes coming down the pipe. As we zoomed...
Staying Ahead of 2024: Essential Accounting Tips for Founders
The new year is already well underway. That doesn’t mean it’s too late to start implementing some new best practices for 2024, though. When it comes to your accounting, employing a few tools and keeping key facts in mind can make your life a whole lot easier. That’s...
Budgeting for 2024 for Your Tech Company
Think back to the earliest days of your startup. What started off as nothing more than an idea bloomed into a company. How did that happen? To a large extent, you can probably chalk it up to careful planning followed by diligent execution. With the new year about to...
How to Safely Use ChatGPT for Your Tech Company Accounting
For years, forward thinkers have been having conversations about how artificial intelligence (AI) has the potential to transform the way we live and work. But it wasn’t until ChatGPT exploded onto the scene that everyday people started to sit up and take notice. With...
Crunching the Numbers: Decoding the Right Time for a Financial Statement Audit
There's an adage that says, "The best time to plant a tree was 20 years ago. The second-best time is now." However, when it comes to financial statement audits, the timing isn't quite as forgiving as planting trees. Understanding the dynamics of your financial...
2023 Chart of Accounts for Tech Founders
When compared to traditional small businesses, early-stage technology startups have nuances that they need to consider when putting together their financial statements and chart of accounts. Often, I find that entrepreneurs have used a financial model to assist them...
Shutting Down Your Tech Company? Here’s What You Need to Know
If you’ve run out of runway and you’re out of options, it might be time to hang up your hat. Don’t fling it onto that hat rack just yet, though. Before you can shut down a tech company (or any company, for that matter), you need to take certain steps. Failing to...
PR For Your Startup – Is the Right Time Now?
By Scott Rosenblum As we head into 2024, founders might be reviewing revenue goals, hiring, operational costs, taxes, and marketing spending. Some may also be considering adding Public Relations to that spend to help build brand awareness. Most founders hear that...
Hiring Employees and Contractors in the U.S. and Abroad: Tax Considerations & Software Solutions
A good team is the backbone of any thriving company. And the rise of technology has made it easier than ever before to expand your hiring pool well outside the boundaries of your city or even your state. Before you seek out the best and the brightest, though, make...
Understanding the Down Round in Tech Companies: Accounting & Tax Implications
Going through a down round isn’t ideal, but plenty of startups have successfully leveraged one — or several — on their way to success. Whether you’re considering this option because of internal factors (like lackluster financial performance) or external ones (like...
Transfer Pricing Basics for Tech Companies
As an early-stage tech company, expanding your operations overseas can provide access to new markets and tap into a global talent pool. However, hiring software developers and engineers in foreign countries requires having a transfer pricing agreement in place. ...
Safeguarding Your Intellectual Property and Financial Assets
A couple of years ago, we explored how tech companies can put measures in place to protect their physical, financial, and intangible assets. But in light of the increasing complexity around intellectual property (IP) rights and the fallout of the Silicon Valley Bank...
What are SAFE Agreements?
A relatively new tool has come into founders’ hands: simple agreements for future equity, or SAFEs. But are they, as the name suggests, simple? Not necessarily. They’re still worth wrapping your head around, though, because SAFEs could give you a way to get the...
What are Convertible Notes?
Finding investors for your early-stage startup can feel particularly challenging. When you’re working with what might amount to little more than a good idea and a basic product, it’s hard to quantify. And yet, so much of startup financing hinges on getting a valuation...
Cash Management: How to Manage Cash for Your Startup — and Why It Matters
You’ve probably heard it before: cash is the lifeblood of a business. You need it running through your company’s veins to keep things functioning. Without it, you’ll struggle to do core things like pay employees and maintain your office space, let alone market your...
The Truth About Being a Tech Company Service Provider
As a CPA, I’ve been working with technology companies since 2010. It started out as something I did on the side, but it turned into a full-time business in late 2013. The tech industry is a unique animal, and I’ve learned a lot over the last decade. As I’ve been...
Meet Our Staff: Megan Mahlstadt
In case you missed it, we’ve been using our blog page to introduce you to our ShayCPA team members. As we continue growing, it gives us an excellent opportunity to make sure you know the people who might be answering your email or phone call. Plus, it’s a chance to...
Meet Our Staff: Elias Bardis
As our ShayCPA team grows, we've had the opportunity to bring some fantastic talent onboard. Elias is no exception. We'd like to give you the chance to get to know him a little better in our latest edition of the Meet Our Staff feature. Elias joined us at the very...
Meet Our Staff: Grace Tsou
Lots of kids dread going to math class — but Grace has always been different. She’s had what she calls an “amicable relationship” with numbers since her youth. That made her a perfect fit for a career in accounting. As our longest-tenured staff accountant here at...
Meet Our Staff: Nina Lopez-Ortiz
Here at ShayCPA, we strive to deliver a personalized experience. We know that finances are a source of stress for a lot of tech startup founders, and we want to help alleviate that with our dedicated expertise and our friendly approach. With that in mind, we want to...
The ShayCPA team are Quickbooks ProAdvisor Certified
When it comes to picking an accounting system for your technology company Quickbooks is a great place to start. ShayCPA’s team is Quickbooks Online Advanced Certified. What does that mean? Advanced Certification for the Quickbooks Online System requires our team to...
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,...
Akshay Shrimanker awarded Forty Under 40 award by the NYSSCPA
The Forty Under 40 award recognizes NYSSCPA (New York State Society of Certified Public Accountants) members who demonstrated leadership in their organization, made significant professional achievements in the past year and have gone “above and beyond” in giving back...
Meet Our Team
In my three years of experience at Shay CPA, I’ve worked with many different tech companies and founders, from newly formed start-up companies to large publicly traded corporations. Working with these different companies allowed me to observe and learn about the tech...
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What Tech Companies Need to Know About Commercial Rent Tax (CRT) in NYC—and Why Startups Should Be Extra Cautious
For tech startups operating in Manhattan, especially those that have recently raised Seed or Series A rounds, the Commercial Rent Tax (CRT) can be an unexpected expense. If you're leasing office space in Manhattan south of 96th Street and your annual rent exceeds...
What To Do If Your Startup Gets Audited
Getting an audit notice from a tax authority is enough to stop most founders in their tracks. It doesn’t necessarily mean you’ve done anything wrong, though. While things like high deductions can definitely trigger an audit, it’s also possible to get chosen at...
Nexus 101: How Remote Employees Impact Your Taxes
You’ve probably thought through operating in other states to some extent. If you start selling your product or service across state lines, you might need to register with that state and pay sales tax there, for example. Ultimately, though, your company’s selling...
Tax Season 2024- Get Your Books Ready in 6 Steps
The start of a new year always feels fresh. You’re looking ahead and probably getting excited about everything your startup will accomplish in 2024. Don’t forget to look behind you, though. Even as you vision-cast for the year ahead, you need to wrap up the year...
2024 Tech Company Tax Tips
Does thinking about filing your taxes put some tension on your shoulders? If so, it’s probably because you’ve had a less-than-ideal filing experience in the past. And in most cases, those unwelcome filing instances come from surprises. Or you might be feeling...
Your Essential Guide to the Delaware Annual Filing – 2024
Every corporation incorporated in the State of Delaware is required to file an Annual Franchise Tax Report and pay the associated franchise taxes. This requirement is in place regardless of the level of activity or income generated by the company. The purpose of this...
Demystifying Taxes for Startup Founders: Deadlines You Need to Know
It’s that time of year again. The beginning of a new calendar year means every business owner needs to put some thought into tax filings. Beyond filing for your own company, you also have fast-approaching responsibilities pertaining to your employee’s taxes and their...
All about SECURE Act 2.0 Tax Credits for Small Businesses
Paid non-client of Betterment. Views may not be representative, see more reviews at G2. Learn more about Shay CPA’s relationship with Betterment. Betterment is not a tax advisor, nor should any information herein be considered tax advice. Please consult a qualified...
1099 + Other Year-End Reporting Tips for Your Tech Startup | 2024
Startup founders, as you embark on making sure your tech company is compliant with all of its tax obligations in 2024, a host of deadlines are upcoming for you and your finance team to navigate which involve information returns (W2s, 1099s, and other reporting). ...
How to Build Your Finance Team
In your early days, one person can probably handle the entirety of your startup’s finance function. The right person with the right level of expertise can stay on top of key areas like payroll and taxes. At the same time, they can help you forecast and make strategic...
Understanding MRR vs. Recognized Revenue: A Guide for Startups
If you’re running a subscription-based business, you’ve probably already started exploring ways to measure your recurring revenue. When you track your recurring revenue with a metric like monthly recurring revenue (MRR), you get a way to keep a finger on the pulse of...
What’s the Difference Between a Controller and a CFO?
When your tech startup is young and scrappy, people wear a lot of hats. In fact, in its early days, you might have even overseen the company’s finances. As you grow, though, you want to bring in people with the required expertise to continue scaling successfully. And...
What are Convertible Notes?
Finding investors for your early-stage startup can feel particularly challenging. When you’re working with what might amount to little more than a good idea and a basic product, it’s hard to quantify. And yet, so much of startup financing hinges on getting a valuation...
Mosaic vs. Causal: FP&A Apps Worth a Look
When you think about things that make or break a startup, a lot probably comes to mind. From strategic thinking to runway, your burgeoning company needs a lot of things to go right in order to thrive. The good and bad news is that a lot of those factors interplay. If...
COGS in SaaS: Understanding Cost of Goods Sold
Unlike e-commerce businesses and manufacturers, software-as-a-service (SaaS) companies usually don’t have inventory in the traditional sense. Instead, modern software is delivered to customers through the rental of servers and cloud storage services, where the...
When and How to Raise a Series A
You’re past seed-stage funding, but unless your startup is particularly lucky, that doesn’t mean you’re past needing outside investing to continue your growth. Sure, some businesses can bootstrap. But if you’ve got a vision that you want to bring to life on any kind...
What is Financial Due Diligence?
When you’re trying to get people excited about your idea, it’s tempting to want to gild the lily. But startup founders should never put themselves in a position where they’ve overpromised only to underdeliver. It can — and almost always will — catch up to you because...
Protecting Your Funding: FDIC Insurance and Beyond
When you’re building your business, securing a new round of funding marks a huge milestone. But as a founder, you know what really matters is what happens next. How you handle that money shapes your business. It can literally make or break you. That means you’re...
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How to Claim R&D Credits During Clinical Trials
Because our team here at ShayCPA specializes in providing accounting services to tech companies, we spend a lot of time working with Section 41 of the Internal Revenue Code. IRC § 41 is what makes it possible to claim a tax credit for research and development,...
Nurturing Biotech Companies in New York
An Overview of START-UP NY, QETC, and Life Sciences R&D Tax Credit Program New York has long been a global hub for finance, fashion, and food. But the Big Apple is also a budding hotspot for biotech, offering a robust range of programs designed to foster...
Using Your R&D Tax Credit Against Payroll Taxes
As you wrapped up the 2022 books for your startup, you probably did some high-level financial review and analysis. Looking over key documents like your profit and loss statement, you get a better idea of what’s driving revenue — and where you’re spending. For most...
Important Changes to R&D Deductions (Section 174) – FAQ
R&D Expenditure Capitalization Rules (New for 2022) The TCJA amended Section 174 relating to the federal tax treatment of research or experimental expenditures paid or incurred during the taxable year. The new Section 174 rules require taxpayers to...
Research and Experimental Expenditure (Section 174) Tax Treatment Changes Startups Need to Know
As part of the Tax Cuts and Jobs Act (TCJA), there was a change to Section 174 that directly impacts the R&D tax credit many startups take. Beginning after 12/31/2021, research and experimental expenditures need to be capitalized instead of expensed as previously...
Your Guide to 2022 R&D Tax Credits
As a startup founder, you’re trying to keep as much money inside your business as possible. If you’re not capitalizing on the federal research tax credit — commonly called the R&D tax credit — you could be missing out in a major way here. This credit lets you...
Startup Guide to California Franchise Tax and R&D Tax Credit
When you open a business in California, there’s one agency with which you need to get familiar pretty fast: the California Franchise Tax Board (FTB). You might even want to bookmark that page. As you establish your business in the Golden State, you’re going to be...
Your Guide to R&D Tax Credits
By: Kacie Goff Research and development (R&D) can help boost not just an individual business’s profitability, but also the economy around them. Dedicated R&D presents the opportunity to fine-tune innovations, allowing companies to forge new ground — and do so...