MRR vs. ARR: What’s The Difference and Why Does It Matter?
Since most startups operate at a loss in their early years, it might feel like there’s no way to get a handle on areas where you are seeing revenue growth. Fortunately, even while you’re operating on a shoestring, you can tap into two metrics to visualize where your...
What are Customer Acquisition Costs (CAC)? Organic vs. Paid
In an ideal world, your startup’s product or service would be so wow-worthy that people would be falling over themselves to buy it. And you might have some cases of that. But it’s no way to build a business. If it was, sales and marketing departments wouldn’t exist. ...
What is a Fractional CFO?
A lot of pieces make up a successful startup: a great idea, an innovative team, willing investors — the list goes on. But at the end of the day, there’s one key component that can make or break everything else: your finances. The way your organization manages its...
The 5 Most Important Metrics for Startups to Track
Startup founders risk information overload. As you grow your team, you’ll probably get reports and updates on how various facets of your startup are faring. It’s a lot to take in. You might even reach a point where you start to miss the forest for the trees. It’s...
What is an 83(b) election?
As a founder, you get one of the biggest perks through equity in your company. In your early days, you probably aren’t raking in a huge salary or taking sizable owner draws. But you can still be padding your pockets through your shares in your company. While these...
Converting From an LLC to a C-corp: Tax Implications to Consider
Plenty of small businesses operate as a limited liability company (LLC) when they first set up shop. In fact, a big portion of LLCs operate as single-member companies with a sole owner. This sounds appealing in the beginning because LLCs are easy to establish, and...
What is a 409A Valuation?
Once your startup goes public, any and everyone can see what you’re worth. But when you’re private, you still want to have a way to know where you’re valued. Fortunately, you don’t have to fly blindly here. You can get a 409A valuation. This valuation, which you...
What is a Cap Table? How Does It Impact My Financials?
When you first launched your startup, it was probably exclusively yours and your co-founder(s). But as you fundraise, you give up equity in exchange for the money you need. To make it easy to keep a clear eye on what’s going on with any shareholder’s equity, including...
Accrual-Based (GAAP) Accounting and Its importance for Tech Companies
Accounting can be more complicated than you expect. Even if you feel completely comfortable monitoring your personal finances, once you found a startup, there’s more to consider. Specifically, companies have to factor in accounts payable (AP) and accounts receivable...
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4 Tips to Help Tech Companies Handle Headhunting
In an ideal world, the team you build at your tech startup should be lean and mean. Finding top talent means you get people on staff who can accomplish more with less guidance in less time. And that enables you to outdo your competition and grow faster. At the end of...
Budgeting and Forecasting Tips for Your Tech Company
Running a tech company requires you to keep a lot of plates spinning. You might not feel like you have time for financial planning and analysis (FP&A) — but you need to make time. Without proper budgeting and forecasting in place, you’re flying blind. You need a...
How To Build a Relationship That Lasts with Clients and Customers
As a startup, you have a big focus on making sales. Sure, that’s true for every business. But when you’re in the make-it-or-break-it state of a seed-stage tech company, every single dollar you bring in feels particularly meaningful. It’s surprising, then, that so...
C Corps vs. S Corps
When you’re getting a tech company off the ground, you’re faced with a lot of big decisions. From identifying the right funding sources to building your company’s branding, you’re making choices that will affect you from here on out. That’s particularly true when it...
Meals and Entertainment Deduction
By: Kacie Goff When you’re launching a startup, the tax-deductibility of certain meals and entertainment can be particularly exciting. You need to eat, after all, so it seems like a pretty sweet deal that you might reap some tax benefits there. The trick, though, is...
Business Development Workshop at Queens College Tech Incubator
Akshay Shrimanker, President of Shay CPA P.C., gave a two-hour business development workshop this Tuesday alongside Michael Maldonado of America’s SBDC located at Queens College. The workshop was held inside the Tech Incubator at Queens College and was aimed to...
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Accounting/Financials + Tax 101 for Early Stage Startups
On Wednesday, October 23rd, Akshay Shrimanker of Shay CPA P.C. conducted an accounting, finance, and tax workshop for early-stage startups inside New Lab -- a coworking space in the Brooklyn Navy Yard which is home to over 130 startups and considered an oasis for...
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...
Tax Benefits of QETC Status: For New York-Based Tech Companies
https://youtu.be/vTnZ6QcPKyQ Are you an early stage technology startup based in New York State? If so read about the tax incentive below that is available. The company doesn’t necessarily need to be incorporated in New York to qualify as most early stage tech...
Founders – Year-End Tax Tips for your Tech Company to think about this Summer!
Founders 2020 has been a tumultuous year and as I was writing this blog post I realized that there are so many aspects that founders need to think about this year versus prior years that the year-end tax planning actually needs to start right now, instead of towards...
Accounting & Taxes for Tech Founders
Founders on August 5th, 2020 our founder Akshay Shrimanker, CPA had the pleasure of hosting a workshop to discuss 'Accounting & Taxes for Early-Stage Tech Founders' with the Queens Economic Development Corporation (QEDC) as part of their 'Reboot & Restart -...
Delaware Annual Filing Tips
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,...
Year-end Tax Planning Tips for Tech Founders
Many early-stage founders feel they don’t need to worry about taxes for their tech startups since they are incurring losses, however, tech startups have exposure to taxes in many ways so without careful planning and consideration, you could leave your company...