his is just one of many Common Application questions university candidates are facing today. Anyone facing college admissions is looking forward to hours, maybe days, of wading through demographic, academic, personal, essay (we could go on, there are so many more!) questions, often on their own or with the help of a very overworked school counselor.
Hiring? If you run a startup, you probably should be. Job growth is up, unemployment is down, and our country’s already competitive labor market is on track to tighten even further in the coming months.
From everything I’ve learned so far from the businesses we work with, early-stage companies are trying to make a million things happen at once. Most startups we talk to don’t have their operational processes defined right off the bat, so they’re constantly tackling logistical and departmental emergencies all while trying to meet the increasing demands of successful growth.
It’s clear why a later-stage operation would need a CFO—with growth comes complexity, but a brand new startup can also benefit greatly from some time with a CFO as they set up their business. Right off the bat, this can help them understand how their industry, business model, entity type, financing options, or team of founders might affect their finances at a long-term, holistic level.
One of the most thoughtful and hardworking CPAs I’ve ever met once told me that businesses are like fingerprints—each one is unique and has different ways of tracking and sharing financial information internally.
When you’re busy running your business all year, you’re probably not spending much time considering which specific state and federal forms you’ll need to file. But in the game of business taxes, you need to be organized and timely..