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...
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...
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...
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...
Importance of Enabling Two-Step Verification for Your Payroll Software
Fraudulent payroll runs are causing customers thousands of dollars and are on the rise. Unfortunately, small businesses, particularly tech companies, are often the targets of payroll theft. We know that for most of our clients, runway is tight, and an incident...
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...
2023 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...
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...
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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...
Tax Benefits of QETC Status
QUALIFIED EMERGING TECHNOLOGY COMPANIES (QETCS) 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...
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...
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...