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...
Understanding New York’s “Convenience of the Employer” Rule: A Guide for Tech Companies with Remote Workforces
With remote work becoming more prevalent, especially in the tech industry, it's crucial for businesses to understand the tax implications of having employees work from various locations. One such consideration is New York's "Convenience of the Employer" rule, which...
Scaling Up a Startup’s Finance Team with the Right People at the Right Time
Overhead is one of the fastest ways to increase your burn rate and shrink your runway. As a result, hiring the help you need usually feels like a major undertaking. You want to be sure you’re getting someone with the expertise you need so you can see ROI on their...
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...
Shay CPA’s 3rd Annual Company NYC Retreat Recap
This year, Shay CPA hosted its third annual company retreat in the heart of New York City, an event packed with learning, connection, and celebration. From engaging presentations to immersive team-building workshops and a fun-filled final day, the retreat offered our...
Innovating the Month-End Close Checklist: Fintech Tools that Can Help
The month-end close is a critical tool in any tech company’s arsenal. It’s also a lot of work. Gathering up all of the details you need to look back over the last month and account for every penny can be a major lift. Add in the need to update key financial reports...
Early-Stage Financial Strategy: Tips for Startups As Funding Slows Down
Not so very long ago, investors were thrilled about the opportunities tech presented to them. Everyone was on the hunt for the next unicorn, and founders had ample opportunity to build the runway they needed to get their companies off the ground. Things have changed,...
Enhancing Accuracy with a Month-End Close Checklist: Tips for Tech CFOs
Founders and finance teams want to keep a finger on the pulse of the company’s health. With a month-end close, they get the detailed look they need to evaluate their runway, revenue trends, and more. Plus, this regular step ensures that the financial reports investors...
Changing Your Fiscal Year for Your Tech Company
The IRS wants to see your books in twelve-month batches. That doesn’t mean you have to file your tax return based on the calendar year, though. If a January 1 start and a December 31 close doesn’t make sense for your business, you have the option to change to a fiscal...
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May 2021 Revenue Recognition Webinar
Revenue Recognition is an area Technology Companies quickly have to deal with as they scale their service offerings. I'm excited to announce I'll be participating in a panel discussion with Eric Chan at Chargebee, Michael Krantz at GoCardless, and Rakesh...
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...
Year-End Finance Tips for Your Startup
https://www.youtube.com/watch?v=8_Vnwp8fDxk&feature=youtu.be 2020 has been an unprecedented year especially for founders who have had to navigate the impact of COVID-19 on their company’s operations and survival. Many tech founders took advantage of government...
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 -...
Paycheck Protection Program (PPP) Tips for Early Stage Tech Founders
We recorded a video below for early stage tech founders who are considering the second round of the paycheck protection program. We touch on the affiliation rules, ethics of applying for the program, and the calculation of the loan amount. Disclaimer: The...
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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...
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...
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