It’s that time of year again. Tax season. This time, you’re sure you’ve got things under control. Yes, you’re stressed, you have eight different spreadsheets open on your screen, and you’re waiting for yet another government website to load, but you’re almost at the finish line. And after spending hours filling out multiple forms—triple-checking that you’ve made the right estimated payments, tracked the right expenses, and applied the right deductions—you finally file your taxes.
But as the weeks go by, a little feeling of doubt keeps nagging at you: Are you absolutely certain you provided the correct information? Could you have made a mistake without realizing it? You’re months into 2019, but you can’t stop thinking about your 2018 taxes. As if on cue, your mail person tosses a thick envelope on your desk. It’s a letter from the Internal Revenue Service.
Don’t let this nightmare become your reality this year. Before you file your return, be sure you’re not falling prey to one of these all-too-common mistakes business owners make during tax time.
If there is one statement that holds true for all startup founders regardless of industry, it's this—there just aren't enough hours in the day. Between developing and promoting your product managing finances and fundraising, and overseeing vendors, clients, and employees (not to mention living your personal life), you can’t get it all done in a day. Thankfully, technology can alleviate some of that burden and help you work more efficiently. Here are five ways technology can help you add hours to your day..
Let me put that number into perspective. In 2016, the SaaS public market was worth $38.5 billion. We’re talking about an already-booming industry with the power to nearly double in size in just four years.
Which leads me to my other piece of good news: SaaS companies present enormous opportunities for investors. But you probably knew that. Maybe you have a few investors on board and engaged in a funding round right now.
In any case, I’m here to help you attract investors and consistently exceed their expectations. The key, much like that $76 billion figure above, lies in the numbers. Take a look at a few essential metrics investors pay close attention to when evaluating your company’s performance:
What is a 409A valuation? Why is it important, and when do you need one?
Countless startup founders have asked these questions, and yet the answers remain frustratingly long and tedious. Like so many tax-related topics, 409A valuations are in desperate need of a rebrand. The term derives not from a jumble of numbers and letters picked from a hat, but from Section 409A of the Internal Revenue Code, which regulates nonqualified deferred compensation paid to plan participants.
Bored yet? Let’s break down the essential things you need to know about this complicated topic.
We survived the long Thanksgiving weekend (but barely). It’s time to put the unbutton-your-jeans level overeating of turkey and harrowing Black Friday shopping experiences behind us and look forward to the joyful holiday season. Celebrating the holidays comes in many shapes and forms and one of our favorites is #GivingTuesday.
Now in its seventh year, this global day of giving kicks off the charitable season by encouraging people to give to organizations, charities, and initiatives that are doing good. Raising an estimated $274 million in 2017, #GivingTuesday has grown into a motivational movement showcasing local and national nonprofits, charitable movements, and community events.
Looking for ways to participate this #GivingTuesday? Here are four of our clients’ and employees’ favorites to stir your charitable spirit:
Like so many others in the tax industry, we’ve spent the last 10 months combing through the 100+ page Tax Cuts and Jobs Act (TCJA) of 2017. There are many changes. Some of those changes are still being studied by accountants and the IRS alike, so it’s impossible to detail them all here. But we pulled out the top four changes you should know about the new law that could affect your 2018 returns.
If there’s one four-letter word on the mind of every investor, it’s “risk.”
While virtually all investment opportunities involve some level of uncertainty, the people and organizations who eventually invest in your company—be they bank lenders, venture capitalists, or your friends and family—are the ones who are confident they have minimized their risk. Sure, they want to feel excited about an opportunity, but what they’re ultimately looking for is a safe bet.
How can you ensure that the company you’ve built poses the least amount of risk to investors possible? The answer is in your books.
As a startup founder, you need the right financial data in order to make decisions that put you in a position for growth. The right financial information will help you understand your investments, build a financial forecast, and plan for future funding raises. In order to get this information and really understand how you’re performing, you need accounting that looks forward––aka accrual accounting.
Accrual accounting is the most accurate, useful, flexible, and shrewd accounting method. So why do so many businesses neglect to use it?
One reason is that for non-finance people, the term “accrual accounting” is perhaps the most boring combination of two words in the English language, and explanations of what it is and how it works tend to be equally tedious. With that in mind, I’m going to explain accrual accounting through a decidedly not dull example.
When was the last time you were at the gym, and cringe-worthy music completely distracted you from your workout? Or worse, while enjoying celebratory drinks out with friends, has gloomy background music brought down the atmosphere? Music is the social glue that binds us together, and yet in public spaces, we’re exposed to music we don’t like and no ability to change it.
Polish entrepreneurs Hubert Kawicki and Adam Krzak created a digital jukebox, Moozicore, to allow you to create your ultimate playlist at gyms, restaurants, or clubs directly from your phone. Giving the power back to the people, it starts at only 50¢ a song.
If you’ve made it this far, I assume you’ve done your research on QuickBooks alternatives and are thinking about buying inDinero. So the next logical question is, “how does QuickBooks compare to inDinero?”
Great question, self! The difference between QuickBooks and inDinero is a topic we run into frequently in our conversations with founders. Outside of those conversations, there’s no shortage of blog articles, Quora posts, and side-by-side reviews attempting to provide answers as well.
Portland
5 Common Ways Small Businesses Screw Up When Filing Their Taxes
January 30, 2019 Posted by Celene Robert to Taxes
It’s that time of year again. Tax season. This time, you’re sure you’ve got things under control. Yes, you’re stressed, you have eight different spreadsheets open on your screen, and you’re waiting for yet another government website to load, but you’re almost at the finish line. And after spending hours filling out multiple forms—triple-checking that you’ve made the right estimated payments, tracked the right expenses, and applied the right deductions—you finally file your taxes.
But as the weeks go by, a little feeling of doubt keeps nagging at you: Are you absolutely certain you provided the correct information? Could you have made a mistake without realizing it? You’re months into 2019, but you can’t stop thinking about your 2018 taxes. As if on cue, your mail person tosses a thick envelope on your desk. It’s a letter from the Internal Revenue Service.
Don’t let this nightmare become your reality this year. Before you file your return, be sure you’re not falling prey to one of these all-too-common mistakes business owners make during tax time.
5 Tech Tips to Add Hours to Your Day
January 04, 2019 Posted by Patrick Hearn to Startup Tips, Business, Accounting
If there is one statement that holds true for all startup founders regardless of industry, it's this—there just aren't enough hours in the day. Between developing and promoting your product managing finances and fundraising, and overseeing vendors, clients, and employees (not to mention living your personal life), you can’t get it all done in a day. Thankfully, technology can alleviate some of that burden and help you work more efficiently. Here are five ways technology can help you add hours to your day..
3 Essential SaaS Metrics to Exceed Investor Expectations
December 21, 2018 Posted by Celene Robert to Startup Tips, Funding, Business, Accounting
If you run a Software as a Service (SaaS) company—that is, if you provide licensed software via the cloud—I have some good news for you. SaaS is on track to reach a public market value of $76 billion in 2020.
Let me put that number into perspective. In 2016, the SaaS public market was worth $38.5 billion. We’re talking about an already-booming industry with the power to nearly double in size in just four years.
Which leads me to my other piece of good news: SaaS companies present enormous opportunities for investors. But you probably knew that. Maybe you have a few investors on board and engaged in a funding round right now.
In any case, I’m here to help you attract investors and consistently exceed their expectations. The key, much like that $76 billion figure above, lies in the numbers. Take a look at a few essential metrics investors pay close attention to when evaluating your company’s performance:
The 8 Essentials of 409A Valuations
December 17, 2018 Posted by Celene Robert to Startup Tips, Business Advice
What is a 409A valuation? Why is it important, and when do you need one?
Countless startup founders have asked these questions, and yet the answers remain frustratingly long and tedious. Like so many tax-related topics, 409A valuations are in desperate need of a rebrand. The term derives not from a jumble of numbers and letters picked from a hat, but from Section 409A of the Internal Revenue Code, which regulates nonqualified deferred compensation paid to plan participants.
Bored yet? Let’s break down the essential things you need to know about this complicated topic.
#GivingTuesday at inDinero -- 4 Inspiring Nonprofits Making An Impact
November 27, 2018 Posted by Celene Robert to Inside inDinero, Industry News
We survived the long Thanksgiving weekend (but barely). It’s time to put the unbutton-your-jeans level overeating of turkey and harrowing Black Friday shopping experiences behind us and look forward to the joyful holiday season. Celebrating the holidays comes in many shapes and forms and one of our favorites is #GivingTuesday.
Now in its seventh year, this global day of giving kicks off the charitable season by encouraging people to give to organizations, charities, and initiatives that are doing good. Raising an estimated $274 million in 2017, #GivingTuesday has grown into a motivational movement showcasing local and national nonprofits, charitable movements, and community events.
Looking for ways to participate this #GivingTuesday? Here are four of our clients’ and employees’ favorites to stir your charitable spirit:
4 Tax Act Changes That Affect Business Owners in 2018
November 16, 2018 Posted by Celene Robert to Taxes, Business Advice
Like so many others in the tax industry, we’ve spent the last 10 months combing through the 100+ page Tax Cuts and Jobs Act (TCJA) of 2017. There are many changes. Some of those changes are still being studied by accountants and the IRS alike, so it’s impossible to detail them all here. But we pulled out the top four changes you should know about the new law that could affect your 2018 returns.
5 Ways Bad Financial Data Can Cost You During Funding
November 09, 2018 Posted by Celene Robert to Business Advice, Mergers & Acquisitions, Investment, Funding
If there’s one four-letter word on the mind of every investor, it’s “risk.”
While virtually all investment opportunities involve some level of uncertainty, the people and organizations who eventually invest in your company—be they bank lenders, venture capitalists, or your friends and family—are the ones who are confident they have minimized their risk. Sure, they want to feel excited about an opportunity, but what they’re ultimately looking for is a safe bet.
How can you ensure that the company you’ve built poses the least amount of risk to investors possible? The answer is in your books.
Why Your Current Accounting Method Is Harming Your Startup's Chances at Success
November 02, 2018 Posted by Celene Robert to Startup Tips, Accounting, Business Advice
As a startup founder, you need the right financial data in order to make decisions that put you in a position for growth. The right financial information will help you understand your investments, build a financial forecast, and plan for future funding raises. In order to get this information and really understand how you’re performing, you need accounting that looks forward––aka accrual accounting.
Accrual accounting is the most accurate, useful, flexible, and shrewd accounting method. So why do so many businesses neglect to use it?
One reason is that for non-finance people, the term “accrual accounting” is perhaps the most boring combination of two words in the English language, and explanations of what it is and how it works tend to be equally tedious. With that in mind, I’m going to explain accrual accounting through a decidedly not dull example.
How inDinero Helped Moozicore Bring its Digital Jukebox to the U.S.
October 19, 2018 Posted by Celene Robert to Startup Tips, Accounting, Funding, Business Advice, Case Studies, Customer Spotlight
When was the last time you were at the gym, and cringe-worthy music completely distracted you from your workout? Or worse, while enjoying celebratory drinks out with friends, has gloomy background music brought down the atmosphere? Music is the social glue that binds us together, and yet in public spaces, we’re exposed to music we don’t like and no ability to change it.
Polish entrepreneurs Hubert Kawicki and Adam Krzak created a digital jukebox, Moozicore, to allow you to create your ultimate playlist at gyms, restaurants, or clubs directly from your phone. Giving the power back to the people, it starts at only 50¢ a song.
QuickBooks vs. inDinero: Which Is Right for Your Business?
October 12, 2018 Posted by Celene Robert to Taxes, Accounting, Business Advice
If you’ve made it this far, I assume you’ve done your research on QuickBooks alternatives and are thinking about buying inDinero. So the next logical question is, “how does QuickBooks compare to inDinero?”
Great question, self! The difference between QuickBooks and inDinero is a topic we run into frequently in our conversations with founders. Outside of those conversations, there’s no shortage of blog articles, Quora posts, and side-by-side reviews attempting to provide answers as well.
Let’s settle the question for good.