Seed investment on your mind?
Every entrepreneur should understand his or her options.
Our financial experts have put together this comparison to help startup founders decide between simple agreement for future equity, or SAFE, and convertible notes.
SAFE as Seed Investment
SAFE is a new financial instrument created by the Silicon Valley accelerator Y Combinator. SAFE was created to provide simpler, more easily understood seed investment.
A SAFE is a warrant to purchase stock in a future priced round. In contrast, a convertible note is debt that has the right to convert into equity when you hit an agreed upon milestone. [Continue Reading...]
Last year, my friend started the business of her dreams. She used her personal savings to fund early brainstorm sessions, computers, and the UX designer she needed to get started. She did a lot of things right to get her small business of the ground.
Something she did wrong? Her accounting. She kept track of all of these expenses by sticking the receipts into the bottom drawer of her desk every couple of days.
You can see where this is going.
I get this question all the time. The entrepreneurs I talk to understand the value of the accurate and efficient accounting that inDinero provides. But because they want to make data-driven decisions about their businesses, they often don’t want to commit to a solution before it’s the “right” time.
The bad news: There’s no hard-and-fast industry benchmark that dictates the best time to outsource your accounting.
The good news: I just found this free tool from Clearer Thinking that can help you determine your own hourly rate, how much you value your time, and when it makes sense to outsource all kinds of tasks, from doing your laundry to, yes, bookkeeping and accounting. [Continue Reading...]
The IRS isn’t known for cutting to the chase. If you’ve ever dug through IRS.gov looking for an answer to your question, you likely came away with much more information than you could ever want.
That is, unless you happened to be looking for a straightforward list of tax deductions for your small business.
The IRS is uncharacteristically silent on this point. So convenient.
In fact, tracking down the ultimate list of small business tax deductions is a grueling task that takes hours and hours of research. [Continue Reading...]
We have great news! Yesterday, we launched a partnership with WeWork, the international provider of co-working spaces for entrepreneurs, startups, and other small businesses.
At inDinero, we provide back-office services for small businesses: accounting, taxes, and payroll, plus a powerful dashboard designed specifically for entrepreneurs. Over the past three years, we have grown at a rate of 2,685.6%, earning the 146th spot on this year’s Inc. 5000 by Inc. Magazine.
WeWork is a platform for creators, providing more than 30,000 members around the world with space, community, and services through both physical and virtual offerings. [Continue Reading...]
Yesterday, a ClickBricks user asked the community:
He’s not alone. This is one of the most frequent questions entrepreneurs and small business owners ask me in our conversations. So let’s put the question to rest once and for all.
QuickBooks is a great piece of DIY bookkeeping software for business owners who have the time and experience to keep their own books. [Continue Reading...]
Is it really worth it for businesses to invest in expert tax filing and bookkeeping?
The case of Coca-Cola should leave you in no doubt. Last Friday, the soft-drink giant announced that it had received a love note from the IRS—to the tune of $3.3 billion.
That’s comparable to the GDP of Swaziland.
Apparently, the IRS made the determination on owed taxes after a five-year audit. That’s no joke.
At question is Coke’s income from licensing that allows its foreign affiliates to sell products like soft drink concentrates to bottlers overseas. [Continue Reading...]
In my previous article, I talked about how wise it is from a tax perspective for businesses to incorporate in Delaware. There are several reasons for this, but the most important one is that there are…
No Small Business Taxes in Delaware!
That’s right: one of the main incentives for small businesses and other companies to incorporate in Delaware is that they do not need to pay corporate income tax unless they actually conduct business in Delaware. [Continue Reading...]
If you haven’t had a chance to interact with Bill Tyndall, our director of business development, you probably don’t know what it feels like to meet the confidence after a really good haircut, the morale boost after a hail-mary touchdown, and the optimism of a three-day weekend all bottled into one human being.
Bill’s attitude and positivity make him a wonderful person to work with and be around. He always embodies inDinero’s Entreocratic mindset*, whether it’s cultivating relationships with our startup accelerator partners, talking to entrepreneurs about achieving their business goals, or encouraging others around the office. [Continue Reading...]
The NFL and NCAA have each run into issues when it comes to labor laws. Here’s how you can avoid your own snafu.
This article first appeared in slightly different form on Inc.com.
Summer is over and football season is officially underway. Around the inDinero offices, this means heated college team rivalries, ongoing Niners-Seahawks debates, and a vicious fantasy club—we are data geeks after all. [Continue Reading...]