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Gross vs. Net Income: What Employers Should Know For Tax Time
24May
Gross vs. Net Income: What Employers Should Know For Tax Time
In simple terms, the difference between gross vs net income is that gross income refers to a business’s total earnings, while net income is left over after subtracting expenses.  However, gross vs net income is slightly different for tax purposes depending on whether you’re an employer or an employee:  Because the law requires employers to...
What Does VC Mean? Everything Startups Should Know About Venture Capital
16May
What Does VC Mean? Everything Startups Should Know About Venture Capital
What does VC mean?  In short, VC stands for venture capital, a type of financing where investors purchase ownership stakes in high-risk, high-reward companies. The truth is, most startups don’t need to think about venture capital. This sort of funding is the exception rather than the norm, with fewer than 1% of companies raising VC...
Unlocking Seed Funding: the Benefits and Risks of SAFE Notes
10May
Unlocking Seed Funding: the Benefits and Risks of SAFE Notes
It sounds like an easy win. You take $200,000 from an investor right when you need it, with minimal back-and-forth negotiation and no debt obligations or loss of equity in the present.
A Beginner’s Guide to Small Business Tax Deductions
10May
A Beginner’s Guide to Small Business Tax Deductions
Whether on an individual level or as a business owner, every living, breathing citizen or resident of the United States of America has some familiarity with federal and state taxes. The mission of the Internal Revenue Service is to "provide America's taxpayers top quality service by helping them understand and meet their tax responsibilities and by applying the tax law with integrity and fairness to all.
Revenue vs Profit: Understanding the Difference and How To Calculate Both
8May
Revenue vs Profit: Understanding the Difference and How To Calculate Both
Revenue vs profit is perhaps the biggest distinction to make when reviewing financial metrics for any company, regardless of the type of business or industry. You need to know your revenue and profit figures to track performance properly, forecast accurately, and lead your company. Yet revenue vs profit is often used interchangeably, which means some...
The Business Owner’s Guide to Mileage Reimbursement (2023 Edition)
18Apr
The Business Owner’s Guide to Mileage Reimbursement (2023 Edition)
Company vehicles aren’t always available, particularly for smaller and growing businesses. This can lead to situations where employees must use their own cars for work-related travel. Whether visiting clients, heading to the airport, or making deliveries, personal vehicle usage may qualify employees for mileage reimbursement. The IRS provides a 2023 reimbursement rate, but there’s more...
More Than a Loophole: Delaware Sales Tax and Other Benefits of Incorporation in DE
11Apr
More Than a Loophole: Delaware Sales Tax and Other Benefits of Incorporation in DE
Delaware taxes may not seem great after considering what Nevada, Oregon, and Wyoming have to offer. Get expert tax advice.
Cash vs. Accrual Accounting
8Apr
Cash vs. Accrual Accounting
As a founder, operations or finance manager, you’ll be faced with a myriad of pivotal choices on a daily basis. However, deciding between cash vs. accrual accounting methods is a critical one that will have far-reaching implications. Your choice between accrual vs cash will affect your business in several ways. First, it will demonstrate different...
What Your Accounts Receivable Turnover Ratio Says About Your Business Health
6Apr
What Your Accounts Receivable Turnover Ratio Says About Your Business Health
“Cash is king,” as the saying goes, and accounts receivable turnover plays an essential role in keeping the cash flowing. Knowing how to measure and monitor your accounts receivable turnover ratio can help you ensure that you’re getting paid on time and improving your cash flow. In this article, we’ll discuss what the accounts receivables...
Sole Proprietorship vs LLC: How to Choose Your Small Business Entity
3Apr
Sole Proprietorship vs LLC: How to Choose Your Small Business Entity
The entrepreneurs I talk to are, without exception, smart, motivated, energetic people. They are full of ideas for life-changing products and services and plans for the future.
What Is the Ideal Burn Rate for a Growing Company?
30Mar
What Is the Ideal Burn Rate for a Growing Company?
Is your business bleeding money? Learn how to calculate burn rate and find what the right burn rate is for your company.
Overcoming Finance & Accounting Challenges in PE Portfolio Companies (PORTCOs)
23Mar
Overcoming Finance & Accounting Challenges in PE Portfolio Companies (PORTCOs)
Introduction In today’s competitive private equity (PE) landscape, portfolio companies (portcos) frequently confront significant obstacles in managing their finance and accounting functions. This comprehensive article delves into the underlying reasons for these challenges and presents practical solutions for PE firms and their portcos to streamline their finance and accounting processes, ultimately improving overall performance. Identifying...
How to Convert LLC to S Corp or C Corp
13Mar
How to Convert LLC to S Corp or C Corp
This can make a lot of sense if you are the single owner of a company or if you only have a few partners. Operating as an LLC gives business owners flexibility.
What Is a Cap Table? The Essential Tool for Your Startup
10Mar
What Is a Cap Table? The Essential Tool for Your Startup
When I was first introduced to the concept of cap tables, I drew a parallel with the part of me who has always wanted to try ancestry.com: a cap table is to a business what DNA is to a human being
What Is ASC 606, and How Will It Impact My Company?
22Feb
What Is ASC 606, and How Will It Impact My Company?
ASC 606, a new accounting standard, changes the way businesses recognize revenue in contracts with customers, particularly customer payments.