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Save on Capital Gains Taxes With an 83(b) Election

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?

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.

When are 2019 Tax Returns Due? Every Date You Need to File Business Taxes in 2020

Posted by Celene Robert to Taxes

Getting your taxes filed on time is a lot easier when you a) have a year-round accounting system and b) have a clear deadline to aim for. By outsourcing your business’s accounting and taxes with inDinero, your covered on both fronts. In the article we’ll focus on the latter to help all business owners build a 2019 business tax calendar to keep up with filing responsibilities and avoid late penalties.


(Still working on your 2018 business taxes? Check out those dates in the 2018-2019 version of this calendar.)


Is Outsourced Accounting Worth the Cost?

Posted by Celene Robert to Taxes, Accounting

Hate using your time to keep track of your business’s finances? You’re in good company. Many business owners consider bookkeeping, accounting, and tax filing the least enjoyable aspects of running their companies.


Yet countless business owners still manage their finances by themselves—not because they like punishment, but because they believe they’re saving money by doing so. Particularly for early-stage companies, an accountant or accounting department seems like a luxury that’s difficult to justify.


This belief frequently has little basis in reality. For a growing business, outsourced accounting can absolutely be worth the cost. By outsourcing your company’s books, you can save money on taxes, make better use of your and your team’s time, and gain the perspective you need to more effectively communicate about your organization and your vision.


Here are a few reasons outsourced accounting is worth the cost:

What Is the Ideal Burn Rate for a Growing Company?

Posted by Celene Robert to inDinero Academy, Accounting, Business Advice, Business

Burn rate is a matter of life and death—startup life and death. It’s the difference between companies that survive for years and those that shutter within months. It’s a critical metric for any investor considering supporting your business. And it’s frequently misunderstood and underestimated by the people who should be paying attention to it most.


Here’s what you need to know about burn rates, including what they are, why they matter, and how to calculate yours—and determine if it’s where it should be.

6 Strategies To Help Any Startup Stay Organized

Posted by Celene Robert to Business Advice, Startup Tips


 

Congrats! You’ve begun exciting process of launching a new startup. So, what's next? Well, it's time to prepare yourself for a lot of decision making, decisions that can directly impact how successful your company is in the future. If you’re looking to grow your business in the coming months—and let’s be real, who isn’t looking for that—this is the time to be intentional, to get laser-focus on building a strong foundation that empowers you to handle any uncertainties that inevitably will arise.


This is easier said than done, especially for a new business that might be dealing with limited funds and even less time. To help you get started, we’ve got some basic strategies to creating an organized, structured approach for future expansion and growth.

GAAP: What It Is and Why Your Investors Expect It

Posted by Celene Robert to Investment, Business Advice, Funding


 

GAAP. It may seem like accounting jargon, but if your business is entering a Series A round and you’ve begun to have serious discussions with potential sources of capital, those four letters can be the difference between securing and losing out on funding. That’s because investors, banks, and other outside parties expect your business to comply with GAAP.


Let’s back up. What is GAAP accounting, and why is it important? What are the benefits of GAAP? When is GAAP necessary? Which businesses must use GAAP?


So many questions, so few clear answers out there for business owners who aren’t already CPAs. Here’s everything you need to know about GAAP—what it means, why it matters to your startup, its pros and cons, and when you should start thinking about making the switch to GAAP accounting.

Never Miss A Beat with the inDinero App: Introducing the Mobile To-Do List

Posted by Celene Robert to Accounting, Business Advice, inDinero Product Updates, Startup Tips

 

The invention of smartphones forever changed the way we work with each other. Information is available anywhere we want it, whenever we need it. Whether it's finding a decent cup of coffee within walking distance or filing your taxes, everything can be done on the move. And when you’re a busy startup founder, having your business operations available at your fingertips means less time doing menial tasks and more time finding that secret sauce to success.


Of course, there are just some things that can’t easily be done on a tiny, 3 inch screen—building a financial presentation for your next board of directors could be tricky when your thumbs are bigger than that microscopic keyboard. Yet, when it comes to resolving basic accounting tasks or asking a question about your business taxes, accounting apps just make sense.


As the state of technology continues to evolve, inDinero looks ahead, ensuring businesses have what they need to succeed, from mobile apps to CFOs available to guide you through your next funding round.

Due Diligence: What It Is, What to Expect, and How to Make It Out Alive

Posted by Celene Robert to Investment, Funding, Startup Tips

They’re the two words that can make or break a deal with an investor—the two words that cause even the most seasoned entrepreneurs to grimace:


Due diligence.


Make no mistake: due diligence can be stressful. But amidst all the fun and exciting parts of attracting investors to your business—innovating, creating a brand, traveling, pitching ideas, forging new connections—due diligence is always a necessary step. It’s how you build trust with investors. It’s where you show your work.

5 Common Ways Small Businesses Screw Up When Filing Their Taxes

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.