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How the Tax Act Affects Your 2018 Meals & Entertainment Deductions
10May
How the Tax Act Affects Your 2018 Meals & Entertainment Deductions
Many are still torn on how the Tax Cuts and Jobs Act will help or hurt U.S. small businesses, but there is one change that would have a sweeping effect on most startups: The more rigid restrictions on what businesses can deduct for meals and entertainment expenses (M&E)
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Foreign Shareholders? It’s 250% More Expensive to File Late
6Apr
Foreign Shareholders? It’s 250% More Expensive to File Late
Form 5472 is a reporting requirement for all U.S. business entities who have owners or shareholders from outside the U.S. who own 25% or more of the company.
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Don’t Let Foreign Business Tax Obligations Get Lost in Translation
5Apr
Don’t Let Foreign Business Tax Obligations Get Lost in Translation
Tax season can be stressful for any individual or business owner. Unless you’re an expert, the guidelines feel complicated and vague, and the repercussions can get expensive and detrimental.
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19 of the Best Tax Filing Resources for Startups & Small Businesses
21Dec
19 of the Best Tax Filing Resources for Startups & Small Businesses
Like most of today’s business owners, you probably don’t spend a lot of time sifting through the IRS’s website for tax-saving tips.
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Must Knows for Delaware-Registered Startups Based in California
1Dec
Must Knows for Delaware-Registered Startups Based in California
As of 2016, more than a million U.S. companies have incorporated in Delaware, including many startups and small businesses that hail from California’s Silicon Valley.
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Get Charitable this #GivingTuesday—and Get Tax Deductions!
22Nov
Get Charitable this #GivingTuesday—and Get Tax Deductions!
No doubt about it, the holiday season is officially underway, with #BlackFriday, #SmallBusinessSaturday, and #CyberMonday raking in billions of dollars for businesses.
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Why to Incorporate in Delaware and How it Impacts Taxes
16Nov
Why to Incorporate in Delaware and How it Impacts Taxes
It’s not just small businesses either. In fact, over 60% of Fortune 500 companies are incorporated there. This may seem bizarre, but it’s definitely no accident: Delaware has been consciously choosing to be the ideal home for businesses as far back as 1899.
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What Startups Should Know About Schedule K-1s Before Filing Taxes
13Nov
What Startups Should Know About Schedule K-1s Before Filing Taxes
I recently overheard a casual conversation between two of my friends from inDinero’s tax team in the breakroom.
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13 Business Expenses You Definitely Cannot Deduct
27Oct
13 Business Expenses You Definitely Cannot Deduct
There are many ways for businesses to lower their tax liability with deductions and credits that set off taxes directly with qualifying expenses—you’ll find 92 potential tax deductions in this article. Typically, tax law requires deductible business expenses to be ordinary (common and accepted in your trade or business) and necessary (helpful and appropriate for your trade or business).
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Missed Your Tax Deadline? Here’s What You Can Do
13Oct
Missed Your Tax Deadline? Here’s What You Can Do
There are an infinite number of reasons why a business may not be able to file their taxes on time. Between demo days, investor meetings, and late-night team strategy sessions, the bookkeeping and tax prep for an early stage company can often fall by the wayside.
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What Bay Area Tax Hikes in 2017 Mean for Startups
29Sep
What Bay Area Tax Hikes in 2017 Mean for Startups
When tax rates rise, small businesses feel the brunt of the impact, but they also pass along increased costs to consumers
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What to do if You Commingle Personal and Business Funds
10Aug
What to do if You Commingle Personal and Business Funds
One of the most common problems we see from startup founders who are first moving away from DIY accounting is a wide range of “personal transactions” being made with the business accounts.
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Startups! Don’t Forget to Claim The R&D Tax Credit
5Aug
Startups! Don’t Forget to Claim The R&D Tax Credit
Whether you’re developing something completely original (like contact lenses that display text messages), or adapting existing products for the better (such as the transparent hole punch) there could be a tax credit waiting for you in the horizon!
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