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Most Valuable Tax Advice for California Small Business Owners
The operation of a small business in California offers unique challenges and opportunities. While finding your way through the tax system of the state can be intimidating, being informed can save you from costly penalties and dollars. This book focuses on applied tax advice to help small business owners manage their finances and keep up […]
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Startup Finances Made Clear: A Basic Guide for Startup Founders
If you’re running a startup, understanding financials is probably the least glamorous part of it. Too many businesses get so caught up in the excitement of launching and scaling that finances end up being an afterthought. The fact of the matter is, if you really want your business to be sustainable and want to attract […]
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6 Tax Optimization Strategies That Tech Companies Need
When you think about tax strategies, what comes to mind? Most probably, you may think it involves reducing costs a little here and there and shifting some budgets around. Well, let’s get real here – superficial tweaks are not going to get you to where you want to go. Tax optimization, especially for tech companies, […]
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Let’s Talk BOI Reporting: A No-Nonsense Guide for Busy Professionals (2024 Edition)
Hey there, fellow business professional! Pull up a chair – let’s have a real conversation about BOI reporting. If you’re thinking, “Great, another compliance requirement,” I get it. But stick with me because I’m going to break this down in a way that actually makes sense for your busy schedule. The Basic Scoop: What’s Really […]
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Accounting Best Practices Every Marketing Agency Should Know
Ever wonder why 82% (U.S. Bank study) of small businesses fail because of cash flow problems? If you head a marketing agency, you know that managing cash flow isn’t just about keeping the lights on—it’s about stability, growth, and sometimes even survival. As a marketing agency you face unique accounting challenges, from managing client retainers […]
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6 Costly Accounting Mistakes That Marketing Agencies Make
Ever wonder how much revenue slips through the cracks in your marketing agency’s financials? Accounting errors don’t just mean redoing a spreadsheet; they impact your bottom line and can threaten client trust. The reality is that marketing agencies are prone to specific pitfalls due to their business model—retainer billing, project-based income, and fluctuating expenses. Here’s […]
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How High-Income Earners Can Lower Taxes with a Side Business
If you earn above six figures, anything extra you earn—like those profits on a side business you might be running—can attract huge taxation. It is pretty common for high-income earners to experience crippling taxes. Of course, with smart tax strategies, you can actually leverage your side business to be a means of legally lowering your […]
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Why Investors Need to Use Leverage in Real Estate
While the saying Cash is King resonates with many investors, experienced real estate professionals know that leverage—borrowing money to amplify returns—is the real secret to long-term success. The magic isn’t in avoiding debt but in understanding how to use it efficiently. The question is, how will leveraging capital open up bigger opportunities in real estate? […]
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How B2B Real Estate Companies Can Leverage AI and ML?
Success in the fast-paced real estate industry depends on innovation. For a decade, the real estate market has been evolving dramatically as a result of technological advancements that are influencing every part of our lives. The development of Modern technologies such as Artificial Intelligence (AI) and Machine Learning (ML) are transforming the way the industry […]
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Key Tax Planning Strategies- What Entrepreneurs Should Know
As a business owner, you are probably always looking for ways to cut costs legally, particularly when it comes to taxes. While you may find it hard to wrap your head around the U.S. tax code, the fact remains that there are several provisions that allow entrepreneurs to lower their tax liability. The trick is […]
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Establishing Credibility – The Overlooked Benefits of Testimonials
When did you last update your website’s testimonials? Google and other search engines promote webpages with frequent updates. Do you find it awkward to ask a client for a testimonial for publishing it on your website? Testimonials promise a business’s trust and credibility. Nowadays, this is known as social proof. Why testimonials are a powerful […]
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Growth Without the Grind – Choosing Between Business and a Job
Perhaps you are wondering what it’s like to go out on your own and start a business. Have you got what it takes? Is your company idea marketable? Is it worthwhile to take such a risk? These are difficult questions. As an employee, you earn a living without the burden of duty that a business […]
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Positioning For Success: Can USP Be Your Trailblazer in Construction and Real Estate?
Why should I choose your construction company or real estate agency instead of your competitors? This question alone answers why your business needs a unique selling proposition (USP) in the competitive construction and real estate markets. Understanding USP in Construction and Real Estate A unique selling point (USP) describes your company’s distinct position in the market, […]
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The Art Of Pricing Strategy: Maximize Your Pricing Potential in Tech
So, you’re looking for the right pricing strategy that can yield an elusive profit for your tech startup? You’ve landed on the right platform! Let’s explore how a good pricing strategy can be a quantum leap for your technology business. Here are some of the pricing strategies that might help you adjust your prices as […]
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Offering Equity or Stock Options to Contractors: Things to Keep In Mind
In certain cases, organizations opt to pay independent contractors with company stock. This can include outright stock grants or restricted stock. It is common among new businesses or start-ups as they lack access to an extensive pool of cash. This is also evident among private companies willing to trade publicly in the near future. However, […]
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Becoming an Accredited Investor: What You Need to Know
Are you looking for information on becoming an accredited investor in the U.S.? Here we’ll explore the accredited investor definition, the requirements for becoming an accredited investor, and the assets in which you can invest. Understanding Accredited Investor An accredited investor is an individual or entity that can invest in various private securities offerings, which […]
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S Corps Demystified: What Every Business Owner Should Know
Hey there, business owners! It’s your friendly neighborhood CPA here, ready to chat about a topic that might sound as exciting as watching paint dry, but trust me, it could be a game-changer for your business. Let’s talk S Corps! What in the World is an S Corp? Imagine you’re at a buffet (stay with […]
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Navigating Startup Costs: Funding Your Business Dream
Starting a business is an exhilarating journey, but it often comes with a hefty price tag. Whether you’re venturing into real estate or launching a tech startup, understanding your funding options is crucial. Let’s dive into the world of startup costs and explore various ways entrepreneurs are financing their dreams. The Reality of Startup Costs […]
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Understanding Cost Segregation in Real Estate: How Does It Work?
Purchasing real estate is undoubtedly exceedingly costly. but so is renovating a warehouse, store, or home. Luckily there’s this one federal tax planning tool, which real estate investors can use to boost their cash flows when building, renovating, or purchasing a property. Welcome to cost segregation, which for some reason has always remained shrouded in […]
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Do Startups Need Accounting?
Starting a new business is fun and exhilarating at the same time. This is the time when entrepreneurs often find themselves juggling different roles in the company – from heading the process to managing the marketing. This is so because most startups are a little cash-strapped and thus they end up opting for a lean […]
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Cash vs. Accrual Accounting: What’s the Best for Startups?
The world of accounting will never be the same without the two primary accounting options – cash accounting and accrual accounting. While both methods have their own characteristics and benefits, they are notably different from one another. In fact, choosing one over the other will impact how a startup’s financial health is perceived. Not sure […]
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Accounting vs. Bookkeeping: What’s the Difference?
As someone heading a small business of your own, you must have a lot on your plate, and that is exactly why you should know the subtle differences between accounting and bookkeeping, all the more. In fact, we often come across business owners who wish to know the difference and rightly so. Knowing the difference […]
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How AI Can Redefine Your Real Estate Business In 2024?
Industries all across the world have been undergoing significant and rapid changes owing to technological advancements in every sphere. The last few years have witnessed a steady growth in the use of modern technological innovations like AI or Artificial Intelligence. Every sector has been experiencing the significant benefits of AI integration as the entire operations […]
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5 Ways Technology is Revolutionizing Small Businesses in the Real Estate Industry
Technology has been revolutionizing the ways businesses function and operate as every industry is reaping the benefits of technological advancements. The real estate sector is in no way exceptional as real estate technology has been quickly evolving for the last few years. Rapid innovations in technology are causing a significant transformation in the real estate […]
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How B2B Real Estate Companies Can Leverage AI and ML?
Success in the fast-paced real estate industry depends on innovation. For a decade, the real estate market has been evolving dramatically as a result of technological advancements that are influencing every part of our lives. The development of Modern technologies such as Artificial Intelligence (AI) and Machine Learning (ML) are transforming the way the industry […]
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The Ultimate Guide to Securing Start-up Funding: Tips and Strategies
Do you have big plans for your startup? Are you not sure about how to get the funding? Having just an idea is not enough. Securing sufficient capital is often crucial for entrepreneurs to turn their creative ideas into profitable ventures. The acquisition of funding is frequently crucial in transforming an idea into a profitable […]
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Top 5 Best Banks For Funded Startups In The US
Are you an entrepreneur? Have you initiated your startup journey? Are you seeking the best banks to support the growth of your business? Starting a business requires careful planning, and one of the most important steps for any startup is choosing a suitable banking partner. The ideal banking partner offers crucial financial services, assistance, and […]
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Maximizing Tax Benefits: Real Estate Investing for Tech Entrepreneurs
Are you a tech entrepreneur? Are you constantly seeking avenues to maximize your earnings and minimize your tax liabilities? We have the right solution to ensure a secured tax benefit strategy. Understanding the complexities of taxation is essential for tech entrepreneurs to maximize their financial plans. Securing tax benefits is critical in the dynamic landscapes […]
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Tips for Entrepreneurs to Plan for an IPO Exit Strategy
An exit strategy helps owners or investors of a business to sell their investment or stake in the business. It is a contingency plan for the owner/s to minimize risks and optimize returns while quitting the enterprise. Business owners need to have an exit strategy in place even before they launch their companies. Exit strategies […]
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Keeping Your Business Data Safe with Cybersecurity Solutions
The advancement of digital technology has completely changed the way human beings interact with the world around them. Businesses nowadays work with a digital infrastructure to deliver optimum value to their customers and gain a competitive advantage. Technologies like Artificial Intelligence (AI), Internet of Things (IoT), and Machine Learning (ML) have led to an increasingly […]
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Everything You Need to Know about Intellectual Property and Taxation Laws
Intellectual property is currently one of the major contributors to the economic growth of the U.S. The artistic, scientific and technical innovations created by individuals give rise to different forms of intangible properties like patents and copyrights. It can be difficult for a layman to clearly understand the taxation and legal aspects associated with intellectual […]
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Navigating Tax Credits for Sustainable Building
Builders, real estate developers and property owners all over the U.S. focus on sustainable building projects as the federal government has made such developments mandatory across the country. Whether it is constructing a new property or performing maintenance tasks on an existing one, renovating it or handling its regular operations, sustainable practices can greatly benefit […]
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The SaaS CFO’s Playbook: Achieving Financial Mastery
Business firms these days have to deal with a lot of unpredictable factors over which they have little to no control. Startups now have to face several critical challenges that they did not have to deal with even a decade ago. Business is now nothing like the way it used to be at one point […]
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Mastering Cash Flow: A Startup and Business Owner’s Guide
Startup business owners often find it difficult to manage their resources efficiently when they are looking to improve their production methods and the quality of the final products. Startup founders need to learn about the best practices in cash flow management. This can help business owners to maintain their cash flow and the resulting liquidity […]
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Things impacting Year-End Tax Planning for the Construction Industry
The year 2023 is ending and people are busy planning the holiday season. At this stage, the companies within the construction industry are getting ready to plan and prepare their taxes. If you are a business owner looking to make your mark in the construction industry, you need to deal with the increasing inflation levels […]
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Building Budget Basics: Hard Costs vs. Soft Costs in Construction Projects
A construction project involves way too many variables. For this reason, it is a challenge to forecast an accurate budget. From the fluctuating prices of materials to labor costs, contractors are often at a loss in calculating the project’s cost. But this does not mean it is impossible – you can find the exact budget […]
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How to Save on Taxes: A Guide for Every Construction Company
Did you know the federal tax rates are the lowest for public construction firms? After working as a construction business CPA in San Francisco for decades, I have noticed how companies try to save on taxes. Especially in the post-pandemic era, every company strives to hold on to extra cash while they can. Many construction companies […]
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Hiring Family in Your Small Business: A Guide to Navigating the Tax Maze
Hey there, small business owners! Let’s chat about something that might be on your radar: hiring family members. It sounds simple, right? Keep it in the family, build the business together – but there’s a catch. The tax rules for family employees aren’t your standard fare. So, buckle up, and let’s dive into this family-business-tax […]
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CA Proposition 19 Questions Answered
After almost three years, there are still uncertainties regarding the details of intergenerational and base-year transfers for seniors and the disabled according to Proposition 19. In November 2020, Californians voted for Proposition 19, altering property tax rules for intergenerational transfers and base-year transfers for those 55 and older, disabled, or disaster victims. Nonetheless, both taxpayers […]
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Choosing the Right Business Structure for Your Construction Company
Are you thinking of establishing your own construction company? Have you decided on it’s organizational structure yet? As exciting of a venture as it might be, your success, the extent of your tax obligations, and the overall operational ease hinge on the business structure you choose for the company. The structure you choose also impacts […]
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7 Important Tax Planning Tips for Tech Entrepreneurs
The world of a San Francisco tech entrepreneur revolves around technology and innovation. Staying aware of the latest tech trends, drafting business strategies, and ensuring continuity of operations. But that’s not all! As an entrepreneur, you have to think about the tax liability of the company and plan accordingly. If not, you might end up […]
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Common Mistakes to Avoid in Commercial Real Estate Investments
Commercial real estate investments ensure a worthwhile experience, with the promise of bigger returns, provided you are careful in your dealings. Most first-time investors I have seen get so blinded by the promise of lucrative returns that they lose sight of the risks. It’s essential to assess multiple factors before investing in commercial property because […]
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Common Tax Mistakes to Avoid in Tech Startup Accounting
In my years as a CPA in San Francisco, I have worked with several tech startups, helping them with accounting, financial planning, and filing taxes. I have noticed a common misconception among these budding entrepreneurs. Since the company is still in its early stages of business and pre-revenue, they assume there won’t be any tax […]
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Paid Leave Under the New Coronavirus Law – Who Qualifies?
In an effort to help our country endure the economic uncertainties of the COVID-19 Pandemic, Congress has passed the Family First Coronavirus Response Act (FFCRA) on March 18, 2020.
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Which One Should I Apply For: PPP or EIDL?
In an effort to combat the negative impact COVID-19 has on small businesses, the CARES Act is offering low interest rate loan programs for working capital
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Issues with Stimulus Payments: What You Need to Know
On April 15, 2020, the IRS opened a Direct Deposit Portal on their website to provide status updates on the Economic Stimulus Payment for taxpayers.
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Assembly Bill No. 5 & Why You Should Care
What is AB-5? On September 18, 2019, California Governor, Gavin Newsom, signed Assembly Bill No. 5 (AB-5), which went into effect as of January 1, 2020
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Prepare for California Tax Changes 2021
With an incoming Administration in the White House and new Congress taking place soon – tax changes are inevitable. Here is our quick guide to help prepare for the changes
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New PPP Updates, California’s Small Business Grant & More
Today we’re covering a topic that is top of mind for most small business owners: the new stimulus bill signed into law last week. We’re going to discuss what it means
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Tax Season Is Here—Here’s What You Need to Know
There’s no doubt about it—2020 was a weird year. And between the fallout of the pandemic and a new administration, we have plenty to update you on. Here’s what’s going on.
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Tax Season Looks Different in 2021
Tax Season Looks Different This Year—Here’s What You Need to Know While the end of the COVID-19 pandemic is now in sight, the economic ramifications aren’t ending just yet.
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7 Tax Deductions For Rental Property You Should Know
If you’re paying high taxes for real estate property, chances are you’re doing something wrong.
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Does a small business have to offer health insurance in 2021?
We’re covering everything you need to know about providing health insurance as a small business owner amidst a global pandemic in 2021.
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California LLC vs. S Corp: Which Should You Choose?
California Limited liability company (LLC) or S corporation (S-corp)? What do these titles mean? And which one should I choose? This is an age-old question that we receive time and time again here at Basta & Company.
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Your Health Insurance for S-corp Options: A to Z
Choosing an S-corporation to form your business comes with a number of impressive tax advantages. You don’t pay corporate income tax, and your Social Security and Medicare tax bills
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How To Calculate The Employee Retention Credit
The Employee Retention Credit could give your business thousands of dollars this year in the form of a refund from the IRS.
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When Should Your Company Hire a Part-Time CFO?
Budgeting, forecasting, KPI tracking… it can be hard to know whether or not you’re on track without the direction of an expert.
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An Accountant’s List of Best Real Estate Tax Deductions
In today’s post, we’re going to tell you which expenses to watch out for in your daily life as a real estate agent, and what to remember when it comes to tax deductions at tax time.
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How Your Business Can Bounce Back After The Pandemic
In today’s blog, we’re going to give you a few valuable tips on how to approach your business in the post-COVID era, and what you can do now to improve business this year.
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Does Your Business Qualify For The Employee Retention Credit 2020 & 2021?
If you’re anything like our current clients, you’re probably skeptical of just how much you can get back in tax refunds and credits from the Employee Retention Credit.
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4 Ways to Reduce Taxes for High-Income Earners in 2022
For high-income earners (those earning over $400,000 a year), it means that your tax liability is most likely going to increase in upcoming years under Biden’s tax proposal.
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Do you Qualify As a Recovery Start Up Business?
If you started a brand new business during the global pandemic, you’ve most likely scoured every government stimulus program there is.
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Top Small Business Deductions 2021
Congratulations, you started your own business. Now, you ask yourself; what expenses can I write off as a business? How do I claim them? On my personal tax or business return?
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Choosing The Best Medical Practice Accounting Software in 2021
Choosing a good medical practice accounting software can not only help you manage your business finances day-to-day, but it can also help you prepare for financing
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6 Steps to Create a Real Estate LLC
Having a real estate LLC can do wonders for your real estate business, mainly because it carries certain tax benefits and is relatively easy to establish.
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How-to Start A Medical Practice Checklist
It’s an exciting and exhilarating time for every (soon-to-be) business owner, but one that can be highly stressful as well.
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The BEST Loan Options for Medical Practices
In today’s blog, we’re going to cover the best loan options for your medical practice and point you in the right direction to get started.
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How to Make a Business Plan for Medical Practice 2022 [WITH TEMPLATE!]
If you’re reading this article then chances are you’re ready to open your first medical practice. Congratulations! You’re going to need a business plan to get things
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2021 Last Minute Tax Credits You Should Know About
For many 2021 credits & deductions, time is running out. In today’s blog, we break down recent changes to the tax code this year, and highlight any last minute tax credits you
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How To Create a Business Budget 2022
Let’s dive into the 5 steps you need to take to create your budget in 2022. As a business owner, you make many decisions about your business at the start of every year
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How Will Inflation Affect Your Small Business?
High Inflation isn’t going anywhere. In fact, prices are rising at the fastest rate since the 1980s. In January alone, prices rose 7.5% compared to the same time
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5 Ideas to Find Pre-Seed Funding
Traditional loans are typically hard to get if you’re just getting started – and the process is often tedious and overwhelming. However, there are various alternative avenues you can take for funding if you are not successful.
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The R&D Tax Credit for Startups 2022
In today’s blog, we’re going to discuss how the R&D Tax Credit works for startups, how much you can claim, and whether or not your company is eligible.
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W2 Employee vs. Contractor: Which Should You Hire?
Hiring for your business is one of the most challenging decisions you’ll make as a business owner. It’s also the most important. In fact, your profitability and long-term growth both
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Good Debt vs. Bad Debt
Debt. Is it all bad? Is there really such a thing as good debt? (Or is that something people tell us to make us feel better.)
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Qualified Small Business Stock (QSBS) Explained!
There are 3 tax codes every American entrepreneur and investor should be familiar with: • Section 1202 • Section 1045 • Section 1244 In this blog, we’re going to cover all three and tell you how they can save you hundreds of thousands, even millions, of dollars in tax breaks for your start up. If […]
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7 Things Tech Accountants Can Do For You
Accountants are typically people you go to at the end of the year to help you reduce your tax burden… and pay as little tax as legally possible to Uncle Sam.
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Budgeting vs. Forecasting
In today’s blog post, we’re going to break down budgeting vs. forecasting for business owners and let you know how-to do each task.
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2022 Start Up Tax Deductions To Know About
In this blog, we’re going to chat about the top start up tax deductions that you should know about in order to reduce your tax burden this year.
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What’s an 83(b) election?
An 83(b) election is one of the biggest tax savings around for startup founders when granted options or receiving equity compensation.
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The Cost to Start a Business in California 2022
How Much Does It Cost To Start a Business In California? So, you’re ready to give your burning idea a crack and start a business in California.
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When is it Time to Hire a Part Time CFO?
If you’re reading this article then chances are good that your business is growing – congratulations! There are few things more exciting (and tiring) than pushing
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What Is a Founders’ Agreement? And Why You Need One
When starting a company, all Founders have goals, aspirations, and practical ideas about how the company will run and evolve.
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Startup Equity Explained!
If you clicked on this article, then congratulations! You are either starting a business, or joining a startup, and either way you’re in for an awesome ride.
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The R&D Tax Credit for Construction, Engineering, and Architecture
Do you own a construction company? If so, you may be eligible to save between $50,000 and $5M on taxes each year!
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How to Get a Business Loan for a Startup
A startup business loan can help propel your new venture from The Little Engine That Could to “full steam ahead” in a matter of months.
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S-Corp vs. LLC for Real Estate Companies
Should you form an LLC or S-Corp for your real estate or construction company? Does this question bother you way longer than what it takes for concrete to dry? It shouldn’t, when your attention should be on what you do best – counting rental yields or constructing the next skyscraper. In this blog, we deconstruct […]
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The Best Construction Company Accounting Software 2023
Having a good construction company accounting software can make or break your business. Construction company accounting software can be a driving force behind business success. It can manage job costs, automate accounting tasks, and give you a real-time reporting view of how your business is performing so you can make more confident decisions about your […]
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Your Guide to Tax Law Changes in 2022 and 2023
We’ve rounded up all of the tax law changes in 2022 and 2023 in this post! If you need help from an experienced accountant with your business
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What Are California’s 1031 Exchange Rules?
What are California’s 1031 Exchange Rules? We’re walking you through everything you need to know with our experienced real estate accountant in today’s post.
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5 Things Your Real Estate Tax Accountant Should Tell You
Wondering if you are structuring your real estate taxes in a way that is advantageous? Here are 5 things your real estate tax accountant should have told you
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