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Self-Employed? You May Be Able to Save Money on Taxes by Deducting Travel Expenses

Posted by Celene Robert to Business Advice

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 exploring a popular but often-misunderstood tax-saving strategy: travel expense deductions.


Use a Backdoor Roth IRA to Build Tax-Free Savings

Posted by Celene Robert to Business Advice, Startup Tips


 

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 looking at how taxpayers can maximize their retirement savings through a handy accounting maneuver known as the “backdoor Roth.”

Should You Convert Your Company to a C Corp?

Posted by Celene Robert to Taxes, Business Advice

Some companies are better equipped than others for growth. The difference can come down to something as seemingly simple as business structure—not leadership vision, not go-to-market strategy, but the details of an incorporation document. Specifically, we’re talking about the distinction between an LLC and a C corporation.


If you own a startup, chances are good your business is structured as an LLC (short for limited liability company). Chances are also good your business could benefit from converting to a C corporation (AKA “C corp”).


Is a Short-Term Business Loan a Good Idea?

Posted by Celene Robert to Business Advice, Funding

Your business needs money as soon as possible. Like, today. Maybe a big order just came in and you don’t have the necessary supplies to fulfill it. Perhaps a major customer payment hasn’t arrived on time, or a tax deadline is approaching, or an expensive piece of equipment just broke down.


What Should You Do If You Get Audited By the IRS?

Posted by Celene Robert to Taxes, Business Advice

Like getting struck by lightning or dying in a plane crash, an Internal Revenue Service audit is as terrifying as it is unlikely. The IRS audits fewer than 1% of taxpayers every year. Nonetheless, there is always a remote possibility you’ll receive a notice that your tax return has been selected for examination.


If you’re one of the (un)lucky ones, don’t panic. Take a deep breath and do the following:

How to Tell If an Investor Is Right for Your Business

Posted by Celene Robert to Investment, Business Advice, Business, Guides, Funding

It’s time to bring your business to the next level. Maybe you’ve recently launched and sparked significant interest in the market, or maybe you’ve been building the company for several years and have recently achieved a sustainable pattern of growth and momentum. Whatever stage you’re at—whether you’re looking for seed capital, early stage funding, or later stage financing—you’re entering into serious discussions with potential investors.

  • Do you know which investors are worth your time and energy?
  • Are you able to pick out the worthwhile sources of capital and smart strategic partners from the crowd?

If you can’t, you risk not only wasting your own time, but potentially setting your business up for significant legal and financial instability.

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.

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.