November 07, 2019
Posted by Celene Robert
to
Business Advice
Welcome to inDinero’s Pot of Gold. In this series, you’ll learn quick, actionable tips to protect and build your company’s capital and personal finances. Whether your “pot of gold” is figurative or literal, these tactics will better enable you to maximize your wealth.
Today we’re exploring a popular but often-misunderstood tax-saving strategy: travel expense deductions.
Welcome to inDinero’s Pot of Gold. In this series, you’ll learn quick, actionable tips to protect and build your company’s capital and personal finances. Whether your “pot of gold” is figurative or literal, these tactics will better enable you to maximize your wealth.
Today we’re looking at how taxpayers can maximize their retirement savings through a handy accounting maneuver known as the “backdoor Roth.”
As a small business owner, you might be worried when you find out how frequently small businesses fail. Especially when you read that according to the Small Business Administration, only about half of all businesses survive past the first five years.
Statistics like that can be troubling, but you shouldn’t let it deter you from your dream to start your own business. A wide range of factors can come into play when a business fails, and there is a lot you can do to protect your business. One thing every small business owner should do is to find out the different causes of small business failure so they can learn how to avoid them.
Welcome to David in Taxland—a series of tax articles written for business owners. Spoilers: this article only considers C-corporations. Hint: don’t be like Nolan. Future articles will bring happier subjects, shorter articles and, of course, Al Capone.
Businesses are usually created for profit, but many operate at a loss in the early years. In Taxland, a business is profitable when it has more revenue than deductions. If it has more deductions than revenue, it’s operating at a net loss—it has a Net Operating Loss, an NOL. We call a C-corporation with an NOL a loss corporation.
Some companies are better equipped than others for growth. The difference can come down to something as seemingly simple as business structure—not leadership vision, not go-to-market strategy, but the details of an incorporation document. Specifically, we’re talking about the distinction between an LLC and a C corporation.
If you own a startup, chances are good your business is structured as an LLC (short for limited liability company). Chances are also good your business could benefit from converting to a C corporation (AKA “C corp”).
Your business needs money as soon as possible. Like, today. Maybe a big order just came in and you don’t have the necessary supplies to fulfill it. Perhaps a major customer payment hasn’t arrived on time, or a tax deadline is approaching, or an expensive piece of equipment just broke down.
Like getting struck by lightning or dying in a plane crash, an Internal Revenue Service audit is as terrifying as it is unlikely. The IRS audits fewer than 1% of taxpayers every year. Nonetheless, there is always a remote possibility you’ll receive a notice that your tax return has been selected for examination.
If you’re one of the (un)lucky ones, don’t panic. Take a deep breath and do the following:
It’s time to bring your business to the next level. Maybe you’ve recently launched and sparked significant interest in the market, or maybe you’ve been building the company for several years and have recently achieved a sustainable pattern of growth and momentum. Whatever stage you’re at—whether you’re looking for seed capital, early stage funding, or later stage financing—you’re entering into serious discussions with potential investors.
Do you know which investors are worth your time and energy?
Are you able to pick out the worthwhile sources of capital and smart strategic partners from the crowd?
If you can’t, you risk not only wasting your own time, but potentially setting your business up for significant legal and financial instability.
Love money? So do we. In fact, you could say money is what we’re all about. At inDinero, we’ve made it our mission to help businesses like yours save and make money at every opportunity— with smart bookkeeping, accounting, and tax strategies. Rather than keeping everything to ourselves, we’ve decided to share some of our go-to secrets and techniques with our blog readers.
Welcome to inDinero’s Pot of Gold. In this series, you’ll learn quick, actionable tips to protect and build your company’s capital and personal finances. Whether your “pot of gold” is figurative or literal, these tactics will better enable you to maximize your wealth.
Today we’re sharing information about 83(b) tax elections. Learn how filing a relatively simple form now can save you serious cash later on:
September 20, 2019
Posted by Celene Robert
to
Business Advice
After spending years building your business, you’ve started to think about a transition. Maybe you’ve been planning a business sale as part of your exit strategy since the beginning, or maybe a recent merger or acquisition in your industry or region sparked the idea. Perhaps you simply woke up one day and realized you were done running your company.
Portland
Self-Employed? You May Be Able to Save Money on Taxes by Deducting Travel Expenses
November 07, 2019 Posted by Celene Robert to Business Advice
Welcome to inDinero’s Pot of Gold. In this series, you’ll learn quick, actionable tips to protect and build your company’s capital and personal finances. Whether your “pot of gold” is figurative or literal, these tactics will better enable you to maximize your wealth.
Today we’re exploring a popular but often-misunderstood tax-saving strategy: travel expense deductions.
Use a Backdoor Roth IRA to Build Tax-Free Savings
November 01, 2019 Posted by Celene Robert to Business Advice, Startup Tips
Welcome to inDinero’s Pot of Gold. In this series, you’ll learn quick, actionable tips to protect and build your company’s capital and personal finances. Whether your “pot of gold” is figurative or literal, these tactics will better enable you to maximize your wealth.
Today we’re looking at how taxpayers can maximize their retirement savings through a handy accounting maneuver known as the “backdoor Roth.”
Five Common Reasons Small Businesses Fail
October 29, 2019 Posted by Rae Steinbach to Taxes, Startup Tips
As a small business owner, you might be worried when you find out how frequently small businesses fail. Especially when you read that according to the Small Business Administration, only about half of all businesses survive past the first five years.
Statistics like that can be troubling, but you shouldn’t let it deter you from your dream to start your own business. A wide range of factors can come into play when a business fails, and there is a lot you can do to protect your business. One thing every small business owner should do is to find out the different causes of small business failure so they can learn how to avoid them.
Why Net Operating Losses are Valuable but Limited
October 24, 2019 Posted by David Korb to Taxes, Startup Tips
The Story of Nolan, an NOL and a Very Bad Haircut
Welcome to David in Taxland—a series of tax articles written for business owners. Spoilers: this article only considers C-corporations. Hint: don’t be like Nolan. Future articles will bring happier subjects, shorter articles and, of course, Al Capone.
Businesses are usually created for profit, but many operate at a loss in the early years. In Taxland, a business is profitable when it has more revenue than deductions. If it has more deductions than revenue, it’s operating at a net loss—it has a Net Operating Loss, an NOL. We call a C-corporation with an NOL a loss corporation.
Should You Convert Your Company to a C Corp?
October 21, 2019 Posted by Celene Robert to Taxes, Business Advice
Some companies are better equipped than others for growth. The difference can come down to something as seemingly simple as business structure—not leadership vision, not go-to-market strategy, but the details of an incorporation document. Specifically, we’re talking about the distinction between an LLC and a C corporation.
If you own a startup, chances are good your business is structured as an LLC (short for limited liability company). Chances are also good your business could benefit from converting to a C corporation (AKA “C corp”).
Is a Short-Term Business Loan a Good Idea?
October 14, 2019 Posted by Celene Robert to Business Advice, Funding
Your business needs money as soon as possible. Like, today. Maybe a big order just came in and you don’t have the necessary supplies to fulfill it. Perhaps a major customer payment hasn’t arrived on time, or a tax deadline is approaching, or an expensive piece of equipment just broke down.
What Should You Do If You Get Audited By the IRS?
October 08, 2019 Posted by Celene Robert to Taxes, Business Advice
Like getting struck by lightning or dying in a plane crash, an Internal Revenue Service audit is as terrifying as it is unlikely. The IRS audits fewer than 1% of taxpayers every year. Nonetheless, there is always a remote possibility you’ll receive a notice that your tax return has been selected for examination.
If you’re one of the (un)lucky ones, don’t panic. Take a deep breath and do the following:
How to Tell If an Investor Is Right for Your Business
September 30, 2019 Posted by Celene Robert to Investment, Business Advice, Business, Guides, Funding
It’s time to bring your business to the next level. Maybe you’ve recently launched and sparked significant interest in the market, or maybe you’ve been building the company for several years and have recently achieved a sustainable pattern of growth and momentum. Whatever stage you’re at—whether you’re looking for seed capital, early stage funding, or later stage financing—you’re entering into serious discussions with potential investors.
If you can’t, you risk not only wasting your own time, but potentially setting your business up for significant legal and financial instability.
Save on Capital Gains Taxes With an 83(b) Election
September 27, 2019 Posted by Celene Robert to Business Advice, Startup Tips
Love money? So do we. In fact, you could say money is what we’re all about. At inDinero, we’ve made it our mission to help businesses like yours save and make money at every opportunity— with smart bookkeeping, accounting, and tax strategies. Rather than keeping everything to ourselves, we’ve decided to share some of our go-to secrets and techniques with our blog readers.
Welcome to inDinero’s Pot of Gold. In this series, you’ll learn quick, actionable tips to protect and build your company’s capital and personal finances. Whether your “pot of gold” is figurative or literal, these tactics will better enable you to maximize your wealth.
Today we’re sharing information about 83(b) tax elections. Learn how filing a relatively simple form now can save you serious cash later on:
When Is the Right Time to Sell Your Business?
September 20, 2019 Posted by Celene Robert to Business Advice
After spending years building your business, you’ve started to think about a transition. Maybe you’ve been planning a business sale as part of your exit strategy since the beginning, or maybe a recent merger or acquisition in your industry or region sparked the idea. Perhaps you simply woke up one day and realized you were done running your company.