Melissa Hollis

5 Reasons Small Businesses Should Choose GAAP Accounting Over Cash

There are two methods for keeping track of your income and expenses: cash and accrual accounting. Choosing your accounting method may seem complicated, and based on which one you choose, that’s exactly how your finances may end up.

  1. Cash: This method requires cash to change hands, meaning that transactions are recorded only when payment is received or made.
  2. Accrual: Based on matching, this method records revenue and expenses when they are earned in real-time even if payments haven’t hit or left your account yet.
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Rebecca Wilson

Don’t Miss Out on These 8 Small Business Tax Deductions

The IRS gets a bad rap, but they do give us a lot of opportunities to save money on our taxes—they just make us work for them. Although identifying small business tax deductions can be mind-boggling for entrepreneurs who do it themselves, it’s definitely not impossible.

If you’re an inDinero client, we’ll take care of it for you—we love helping people claim every deduction available to them!

Regardless of whether you file your annual tax returns yourself or hire a professional, here are eight great tax deductions that are definitely worth investigating. [Continue Reading...]

Rebecca Wilson

How Software Automation Is Unleashing Talent

Can automating tedious tasks actually make talented people more valuable to a company?

A few years ago, many professionals in traditional industries such as accounting and marketing worried about being replaced by sophisticated software. But now, we’re seeing that software is actually freeing those people to be smarter and more creative at what they do.

For example, inDinero is lifting the paperwork burden from CFOs so they can use their insights to help companies grow and make good decisions—and contribute more value overall. [Continue Reading...]

Sarah Olbekson

Our Dedication to Diversity

“Diversity: The art of thinking independently, together.” – Malcom Forbes

inDinero’s path to increasing diversity as a new member of Portland’s community of technology companies, as told by our talent acquisition manager.

Honey, we’re home! As of spring 2015, inDinero has landed in the beautiful PNW and we’re quickly getting the hang of things. This month we were introduced to TechTown Portland and immediately felt at home. It’s exhilarating to join a growing group of like-minded companies building something from their own bootstraps. [Continue Reading...]

Rebecca Wilson

Getting to Know inDinero: August Spotlight on Cinnamon Williams

Cinnamon Williams has come a long way from her childhood in the Alaskan wilderness without electricity or running water. Now, as inDinero’s Enterprise controller, she manages the financials for some of our most complex clients. But the resourcefulness and work ethic that she learned in Alaska shine through in every interaction she has with her customers.

Around the company, Cinnamon is known for coming in early, staying late, and the warmth and enthusiasm that all of us hear in her voice when she’s speaking with her clients. [Continue Reading...]

Rebecca Wilson

Don’t Miss This Small Business Tax Deduction: 4 Things You Need to Know about Writing Off Your Home Office

Like many inDinero employees and clients, I run a small business out of my home. The entrepreneurial spirit is an essential prerequisite for working at inDinero—and claiming all the tax deductions you can is a key part of succeeding as an entrepreneur.

Over the years, I’ve found that nothing saves my little book editing business more money than claiming the home office deduction when I file my income taxes each year.

This completely legitimate option lowers my taxable business income and allows me to transform many personal expenses into tax savings. [Continue Reading...]

An Agile Culture is a Marathon, Not a Sprint

This article was originally published on July 31, 2015 via my LinkedIn profile.

We started inDinero Full Service three years ago like any other startup in San Francisco. Our office was full of picnic tables for desks, the kitchen was stocked with pizza and Gatorade for nourishment, and we were just a quick walk to artisan coffee around the corner for stamina. While these early times had frustrations of their own, I had no idea the far more complex headaches I’d face after making the decision to open other inDinero locations.

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Melissa Hollis

The Day We Dreamed About as Entrepreneurs

We’ve come such a long way from when we got our start in a Cal Berkeley dorm room. Today, our co-Founder and CEO, Jessica Mah, made the cover story for Inc. Magazine’s annual Inc. 5000 list AND inDinero, the company, landed its first coveted spot on the list at #146!

To say the office was buzzing would be an understatement, so here are our stages of excitement throughout the day as told by everyone’s favorite businesswoman, Leslie Knope:

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Rebecca Wilson

Avoid the Tax Penalty: Converting Your Business from LLC to C-Corp

Yesterday, I talked about the pros and cons of converting an LLC to a C-Corp. It can be a complicated process but, depending your circumstances, it can definitely be worth the extra taxes, paperwork, and legal fees. If you decide to take this on, there’s one more thing you should be aware of….

The penalty: $195 per month per partner, in addition to taxes owed

Why it happens: Sometimes business owners don’t file a tax return after converting their company from an LLC to a C-Corp. [Continue Reading...]

Rebecca Wilson

When You Should Convert Your Company from an LLC to a C-Corp

Photo Credit: Heisenberg Media

Many entrepreneurs get their business off the ground as an LLC, or limited liability company.

This can make a lot of sense if you are the single owner of a company or if your startup only has a few partners. An LLC gives business owners flexibility.

From a tax perspective, an LLC couldn’t be better: The business’ income is treated as the income of the owners. That’s right—you don’t pay separate business taxes if your company is an an LLC. [Continue Reading...]