If your company is leaning into the exploding opportunities created by artificial intelligence (AI) and machine learning (ML), you’re probably excited about what it could do for your business. Lots of people and companies are champing at the bit for AI/ML products and services, especially user-friendly, trustworthy ones. If you can find a way to sate that appetite, there’s absolutely money to be made. And because so much in the world of ML and AI falls under the umbrella of research and development, you might be able to shave some money off your taxes along the way, too.  The federal R&am ..read more

More and more finance teams are making the jump from QuickBooks Desktop to QuickBooks Online. And it’s not just because the online version maintains the user experience that you’re used to while allowing access from anywhere at any time. It’s because QuickBooks is in the process of phasing out its desktop software.  July 31 of this year is the last chance people will have to buy most QuickBooks Desktop products (although QuickBooks Desktop Enterprise looks like it’s sticking around). While this doesn’t necessarily impact existing Desktop subscribers, changes are coming.  In May, Quic ..read more

‘Tis the season. As the days get longer and the weather gets warmer, it’s time to undertake the annual chore of spring cleaning. This doesn’t just apply to your abode. Employing a spring-cleaning mentality at your startup — especially when it comes to your books — can do a lot to help you thrive in the rest of 2024 and beyond. Giving your bookkeeping a spring clean could be the key that unlocks success in your next rounds of fundraising. If you know you’re going to undertake a new round anytime in the near (or not so near) future, it’s well worth putting in the energy to get everything tidied ..read more

When you’re growing a business in its early phases, you’re usually anything but liquid. Not so very long ago, that presented a huge problem for founders. Did they burn through runway to offer competitive pay so they could lure the best employees? Or did they play it safe with payroll and hope their team could do what they needed?  Fortunately, equity grants have completely changed the game. With this tool, founders can offer top performers the compensation they deserve without needing to hand a paycheck over immediately. Easy, right? It is an easy fix for the cash flow problem, sure, but ..read more

2024 is already well underway, but we’re definitely still early enough into the year that it could go any direction. To help our team and clients prepare for what this year will bring, we’ve spent some time thinking about changes coming down the pipe.  As we zoomed out and looked ahead, we identified three trends that will likely play a big role in the accounting industry — and financial best practices in general — through the rest of 2024. In fact, we’ve already seen these forces start to shift how we work.    #1: The accountant shortage As The CPA Journal put it, “The accounti ..read more

No matter what kind of solution, service, or product a company delivers, it has one thing in common with every other business in existence today. What’s that underlying thread? They all need to be on top of their financial management. Sure, when you’re small and scrappy, you can probably scrape by. Some spreadsheets and a few dedicated hours each month might be enough to keep your books sorted. But as you grow, things ramp up quickly. Bringing on more headcount means more payroll (and payroll tax) complexity. More clients mean more to process in accounts receivable, and the vendors you need to ..read more

As you wrapped up the 2023 books for your startup, you probably did some high-level financial review and analysis. Looking over key documents like your profit and loss statement, you get a better idea of what’s driving revenue — and where you’re spending.  For most companies, payroll makes up a huge category in the latter. Paying your team is likely one of the biggest, if not the biggest, expenditures for your company. It’s a key component in keeping things running, of course. But you see that total and it can sting a little. Fortunately, there’s a way to minimize that pain while still pa ..read more

The start of a new year always feels fresh. You’re looking ahead and probably getting excited about everything your startup will accomplish in 2024. Don’t forget to look behind you, though. Even as you vision-cast for the year ahead, you need to wrap up the year behind you. Don’t shoot the messenger: it’s time to do your taxes. Yes, you technically have until April 15. But getting a jump on things now can save you a lot of hassle. When you get organized in advance, you save yourself from needing to race the clock. Plus, getting things in order before you go to your accountant can streamline th ..read more

The Financial Crimes Enforcement Network (FinCEN) wants to know who’s pulling the strings at companies operating in the U.S. As a result, they’ve instituted a new filing requirement. Starting January 2024 (read: this already applies), the vast majority of companies operating across the country need to submit an annual report called Beneficial Ownership Information (BOI).  Essentially, this tells FinCEN cui bono: who benefits at the company. Specifically, the report tells the network about any beneficial owners, meaning anyone who directly or indirectly has substantial control in the compa ..read more

Does thinking about filing your taxes put some tension on your shoulders? If so, it’s probably because you’ve had a less-than-ideal filing experience in the past. And in most cases, those unwelcome filing instances come from surprises.  Or you might be feeling stressed because you don’t know what to expect.  Either way, we can help. By giving you a heads-up in some key areas, we can make filing your tech company’s 2024 taxes a whole lot easier — and less stressful.  For that, we tapped an expert. Akshay Shrimanker, our Founder and CEO, has years of experience helping companies f ..read more