Staying Ahead of 2025: Accounting Tips
Each year, we like to tee up a few accounting tips. While there are absolutely some best practices all tech companies should deploy year after year, it’s also true that things change in the accounting world. As new regulation impacts taxes and new bookkeeping...
Preparing for Your First Financial Audit: A Checklist for Startups
Growing a startup comes with a potentially heady mix of near-endless opportunities surrounded by countless pitfalls. While the freedom that comes with scaling up the business is exciting, sometimes it’s nice to know you’re on the right track as verified by outside...
Bookkeeping Basics for SaaS Companies: Managing Revenue Recognition
On the surface, bookkeeping might not seem that complicated. A client or customer pays you money, so you record it on your books on the date it was paid. Right? Wrong. Because of the Financial Accounting Standards Board’s (FASB’s) Accounting Standards Codification...
Navigating the Latest Section 174 R&D Capitalization Rules: What Founders Need to Know in 2025
For early-stage startups, research and development (R&D) is the lifeblood of innovation. Historically, small companies benefited from being able to immediately deduct R&D costs each year. However, legislative changes enacted under the Tax Cuts and Jobs Act...
Your Essential Guide to the Delaware Annual Filing | 2025
Every corporation incorporated in Delaware must file an Annual Franchise Tax Report and pay franchise taxes. This requirement applies regardless of the company's activity level or income. Paying this tax ensures the corporation maintains good standing in the state....
Annual Budgeting & Forecasting Checklist
Whether you’re a startup working with a fractional CFO or a well-established tech company with a fully built finance function, this is a particularly important time of year. As we get into 2025, some steps you take now can set you up for financial success. That said,...
2025 Tech Company Tax Tips: Deadlines to Know
Financially speaking, these are uncertain times for businesses across the U.S. As the new administration ramps up, many folks are speculating about whether the Tax Cuts & Jobs Act (TCJA) will expire later this year or get an extension. Talks of tariffs are adding...
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...
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...
Spring Cleaning: How Organizing Your Bookkeeping Now Can Get You Ready for Your Next Fundraise
‘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...
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.” That, of course, begs the question: what is revenue recognition? In short, it’s the process of...
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...
Best Practices for Your Tech Company’s Expense Policy
When you’re an agile startup, allowing your employees to expense items and ask for reimbursement can give you a level of flexibility that you probably need. But it can also add a layer of complexity that you probably don’t need. That’s especially true if you don’t...
Startups – What’s Your Burn Rate?
It might be time to update the old adage. Maybe it’s not cash that’s king, but cash flow. One study conducted by U.S. Bank concluded that 82% of business failures can be chalked up to bad cash management. When your startup’s in its early days, it probably isn’t...
Founders – Bookkeeping vs. Accounting: What’s the Difference?
When it comes to differentiating bookkeepers from accountants, a lot of startup founders primarily focus on when to hire them. For example, you might hire a bookkeeper on an ongoing basis, but only work with an accountant during tax filing season. The trick, though,...
2021 Year-end tips for your Technology Company
As we head into the end of another wild year, you might be feeling particularly ready to wrap things up. But you might also be feeling some fatigue from all of the uncertainty — not to mention the hustle of growing your tech startup. Whether looking to 2022 feels...
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...
5 Steps to Build an Expense Policy for Your Tech Company
Last summer, we talked about some best practices for a tech company’s expense policy. If you read it, it probably got your wheels turning. As it turns out, solid — and IRS-compliant — expense management means a lot more than cutting a check for the amount of the...
How Layoffs Affect Your Tech Company’s Books and Payroll
In the grand scheme of things, layoffs can be a critical strategic move to help your company survive long-term. But if you’re in the middle of a round of layoffs or even considering them, it’s hard to get that high-level view. Layoffs are painful and can get...
How Do I Organize the Finance Department at my Startup?
As you grow your startup, you know you need to prioritize building the right team. And that means finding the right people with the right skill sets, which definitely isn’t easy. That gets even harder when you’re hiring for finance functions. You’re probably not an...
Tax & Accounting 101 Workshop for Budding Entrepreneurs
Akshay Shrimanker, President of Shay CPA P.C., gave an accounting and tax workshop to small startups inside the Zahn Innovation Center at City College this past Thursday. The attendees to the workshop include Fitko, STEM Hive, Luxz, and Flora Mind -- who were all...
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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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). ...
Form 6166, Tax Residency, and Why It Matters for Your Startup
Expanding your operations abroad means that your business is doing well enough to scale in a big way. It’s a major milestone. But it can also come with a major tax burden if you’re not careful. Once you start operating internationally, your startup could be subject...
6 Year-End Tax Planning Tips for 2023
As the year wraps up, it’s time to start making that list and checking it twice. No, it’s not your holiday gift list. It’s your year-end tax planning to-dos. Taking some time to get yourself sorted could mean thousands of dollars of savings between your startup’s...
Passing the Four-Part R&D Tax Credit Test
Who wouldn’t want to cut their tax bill by as much as $500,000? It’s no surprise, then, that a lot of companies — especially startups trying to extend their runway as much as possible — explore the R&D tax credit. Technically called the Credit for Increasing...
What New York-Based Tech Companies Should Know About QETC Filings
The state of New York offers some serious tax perks for tech startups operating within its borders. Specifically, if you can get certified as a qualified emerging tech company (QETC), you and your investors can claim some meaningful credits to lower your tax...
Don’t Let New York’s Franchise Tax Sneak Up On You
When you think about taxes, you probably directly associate the money that goes out to tax authorities with the money that’s come in. Take sales tax as an example. The more you sell, the more you’re going to pay. Income tax isn’t so different: the more you earn, the...
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...
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 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...
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