It can be hard to know when to hire an interim CFO. Not only are there cost considerations, but since interim CFOs are often hired during times of crisis or transition, you may also be under time pressure.  In this article, we’ll share insights from indinero’s experience working with hundreds of startups and small businesses about when and why to hire an interim CFO, fractional CFO, or full-time CFO. Table of Contents What Does a CFO Do in a Startup? When to Hire interim CFO for startups Benefits of Having a CFO How Much Does a Fractional or Interim CFO Cost? Conclusion CFOs are respon ..read more

Controller vs comptroller vs CEO—with so many titles, it can be hard to know which of these professionals your business needs.  These professionals have overlapping duties, and many people will use the terms interchangeably. However, there are important distinctions between controllers, comptrollers, and CFOs, and which one(s) you’ll need depends on the stage and nature of your business.  In this article, we’ll break down the differences between these roles and help you determine which type of professional is best for your finance team. Table of Contents Breakdown of Responsibilitie ..read more

Table of Contents What Makes Accounting + Bookkeeping Services for Startups Different? Areas of Focus for Startups 1. Managing the Chart of Accounts 2. Cash vs. Accrual Accounting Method 3. Oversight of Business Credit Cards 4. Cash Flow Statement and Planning 5. Raising Capital 6. Distributing Equity and Managing Debt 7. Picking the Right Tools 8. Filing Taxes 9. Classifying Employees 10. Multiple Jurisdictions 11. Administration 12. Benefits The Financial Team CFO Controller/Comptroller Bookkeeper How to Select the Right Startup Accountant Entrepreneurial Focus Accounting Best Practi ..read more

Mergers and acquisitions, such as when two massive conglomerates combine, sometimes make headlines. However, businesses of all sizes go through the merger and acquisition process every day.  If you’re a business owner planning to buy, merge, or sell, it’s essential to have a merger and acquisition strategy in place. We’ll help you get started by answering common questions about M&A and showing you examples of strategies that leave all parties satisfied.   Table of Contents What’s the Difference Between a Merger and an Acquisition? Why Merge With or Acquire a Company in the ..read more

Despite the mysterious name, phantom stock will be familiar to business owners using stock incentives or advisory shares to compensate employees and stakeholders. In short, it’s a way of mirroring the incentives offered by more popular arrangements without the necessity of exchanging ownership and voting rights in a company.  In this article, we’ll touch on the benefits of equity-sharing agreements and the advantages of phantom stock plans and associated tax treatments. Table of Contents Benefits of Traditional Equity-Sharing Agreements  What Is a Phantom Stock? Why Use Phantom Stoc ..read more

Do nonprofits pay taxes? The easy answer is no—typically, they file a Form 990 informational return instead.  However, some exceptions complicate that answer. In this article, we’ll answer the most common questions about nonprofit taxes and outline everything nonprofits need to know about taxes. Table of Contents Are Nonprofits Tax Exempt? Most Commonly Asked Non Profit Tax Questions What Is Unrelated Business Income? Do Non-Profits Pay Sales Tax? Do Nonprofits Pay Property Tax? Do Nonprofit Employees Pay Taxes? Do Nonprofits Pay Payroll Taxes? Do Nonprofits Pay Taxes on Donations? Do N ..read more

Every year, right around the beginning of April, many people ask: “What happens if you file taxes late?” Filing your taxes after the deadline can bring serious consequences, including monetary penalties and the increased risk of an audit.  If you’re worried you can’t make the deadline this year, don’t panic. In this article, we’ll outline the penalties and steps you can take to avoid or reduce them.  Table of Contents Tax Deadline What Is the Penalty for Filing Taxes Late? What Should I Do If I Have to File My Taxes Late? FAQ About Late Filing Taxes Conclusion Penalties can add up ..read more

You might wonder how bookkeeping vs. accounting differs when managing a business’s accounting. While they are overlapping disciplines, there are some key differences. Bookkeepers are chiefly responsible for accurately recording and organizing transactions, while accountants add value by synthesizing that information into actionable insights and financial projections.  In other words, bookkeepers are tacticians, and accountants are strategists.  This article will help you decide when and if you need to bring one of these professionals on board in your business.  As you scale your ..read more

In contrast to sales tax, levied on nearly everything and paid directly by the consumer, excise tax is applied only to certain goods and is paid by the merchant. Although entrepreneurs prefer to focus on generating revenue, excise tax is one of the many details business owners must understand to run a successful operation. In this article, we’ll answer the question “What is excise tax?”, provide an overview of commonly taxed goods and their associated rates, and show you how to file with the IRS properly. Table of Contents Excise Definition Excise Tax vs Sales Tax Excise Tax Deductions System ..read more

Like many accounting and investment tools, the amount of math involved in financial modeling can seem daunting. At the core, the concept is simple: financial models incorporate historical data, present cash flow and balance sheet positions, and a series of future-based assumptions to project an organization’s performance into the future.  In short, it’s a decision-making tool. In this article, we’ll walk you through the basics of financial modeling so you can incorporate quality financial analysis into your business planning process.  Table of Contents Financial Modeling Basics Type ..read more