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...
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...
As a founder, you’re probably going to issue yourself a significant number of shares in your company. The goal there, of course, is to make some (ideally, a large amount) of money down the road. But the amount you’ll be able to pocket hinges on how you handle your...
By Kacie Goff As you work to scale your startup, the old adage rings true: cash is king. The more cash you can have on hand, the easier it is to build your best product and launch into new opportunities. And tax deductions give you an excellent way to maximize your...
Getting ready for tax season isn’t most people’s idea of fun. Here at ShayCPA, we think that’s most likely because it often comes with unexpected, unwelcome surprises. As a result, a lot of people feel tension at the mere mention of the word “taxes.” But it doesn’t...
By Kacie Goff With 2021 behind us, your startup is probably launching into 2022 goal-setting and strategic planning. But 2021 isn’t put to bed just yet. You still need to get all of your taxes squared away. Prepping for doing your taxes isn’t most founders’ idea of a...
The Delaware Annual Filing is due on March 1st, just 3 weeks away. 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, which you can...
Founders, for 2021, the threshold to issue a 1099-NEC remains $600 for payments made in the calendar year 2021. You must issue a 1099-NEC to the following: Services performed by someone who is not your employee (including parts/materials) - (box 1) Payments to an...
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...