Rebecca Wilson

Are Your Workers Employees or Contractors? How Getting This Wrong Could Cost You


There are a couple of ways to see whether the people you hire are employees or contractors. What we don’t recommend: Crossing your fingers and hoping for the best, closing your eyes and pointing, or drawing straws.

Why you need to know the difference between employees and contractors

In the most famous example of its kind, Microsoft miscategorized thousands of employees over many years. In the end, the employees sued the tech giant for missed benefits, including coverage in the company’s 401(k) plan and a discount stock purchase plan, for the period during which they had been miscategorized. This was after Microsoft paid back taxes and penalties. The case lasted for eight years and went all the way to the Ninth Circuit Court, which determined that Microsoft did have to pay its employees for missed benefits…to the tune of $97 million.


Don’t let this happen to you.

How to tell the difference

A lawsuit of this size happening to you is unlikely. [Continue Reading...]

You Only Have Yourself to Blame — CEO, Hire Thyself

CEO Hire Thyself

This article was originally published on July 1, 2015 via my LinkedIn profile.

It’s not a tough concept to grasp–the best way to avoid turnover is to hire the right fit from the start. Which is why I’m always surprised by how little attention many CEOs give to recruiting. As co-founder of inDinero, I’ve worked hard to build the company in my vision, based on my values, so looking for myself in job candidates is a great way to hire individuals who will thrive. But how do you pick your counterparts out of the pack?

First, look inward

Self-awareness and emotional intelligence are step one. As I started building inDinero (for a second time), I read many books on recruiting and interviewing while personally looking through countless job descriptions to list the attributes and skills that spoke to me. It was this act of writing and picking top traits that allowed me to decipher the criteria for future teammates that were actually important to me (hunger, moxie, and monster work ethic) and outweighed a list of competencies. [Continue Reading...]

Ryan Mason

Bon Voyage to Bon Appetit: IRS Announces Plan to Tax Free Employee Lunches


From Google’s gourmet cafeterias to trays of cold cuts in tiny startups, Silicon Valley companies have been feeding their employees free lunches for years now. It’s a big part of the reason why tech companies like Google have the fun-loving and employee-centered reputation they currently enjoy. However, the IRS has been watching from afar, hungrily waiting for the opportunity to tax these lunches, and they’ve finally found it.

The IRS is now calling these free lunches a “taxable fringe benefit,” which means that employers now face extra fees for providing free lunches to their employees. This is no small sum, either. Let’s say an employee eats one free meal a day: if a single lunch has a market value of, say, $10, a company may end up paying taxes on an additional $2600 per employee annually. Although big companies like Google and Facebook can easily absorb this additional tax burden, smaller startups may be forced to give up their free lunches–which may spell the end of a Silicon Valley tradition. [Continue Reading...]

Ryan Mason

Want to Become an InDinero Pro? Check Out Our Product Demo

Although inDinero is easy to use, it has a lot of features that you may not yet be acquainted with. To get the full range of inDinero’s capabilities, we’ve introduced a new product demo. This video provides step-by-step instructions on how to use the inDinero product to:

  • Issue invoices
  • Organize your transactions
  • Manage your bills
  • Track your financial analytics

And more!


  [Continue Reading...]

Melissa Hollis

Small but mighty! How small businesses build major muscle starting with their accounting

small businesses, big muscles

Not every organization is run by an accountant, and that goes double for startups and other small business ventures. Nonetheless, most business owners and visionaries quickly find that accounting and other back office tasks are an essential part of any infrastructure (even if that “structure” is housed in your basement or garage).

Businesses of all sizes stand their strongest when they have a solid handle on financial processes to keep all moving parts in order. Building this is also one of the things smaller businesses struggle with the most. As a lean machine, it is likely that you don’t have the resources to allocate to an in-house CFO or CPA so it is even more important you learn the best ways to leverage your administrative aspects in order to pump things up elsewhere within your company.


First off… What is accounting?

In a nutshell, accounting is how you identify, quantify and communicate your economic profile to all stakeholders involved in your business so they can make informed decisions about what is best for the business and its bottom line. [Continue Reading...]

Melissa Hollis

Guest Post: Best Financing Options for Your Business

Forward: Many thanks to Accion for contributing this post and sharing their insight and expertise around this topic. As the largest nonprofit micro- and small business lending network in the United States, Accion connects small business owners with the accessible financing and advice it takes to create or grow healthy businesses. – Melissa Hollis, Marketing Content Manager at inDinero

While it can be tough to get a business loan, it’s important to have the proper financing in place. Otherwise, how can you operate without cash to invest in materials, space, employees, and all the other must-have items for getting a business in gear?

When it comes to getting the money to run and grow your business, there are a few different options available. Some of the best financing options for any business are loans from banks or credit unions, or microloans. Learn more about each of these three types of loans, and determine which is best for your business. [Continue Reading...]

Ryan Mason

Client Spotlight: Beeminder, Reminders With a Sting

logo_hiToday’s blog is all about you: our clients! From now on, we will be regularly posting “Client Spotlight” articles highlighting some of inDinero’s awesome clients, their goals and visions, and how inDinero helps them simplify their accounting and finances. Today, we want to take a moment to shine the spotlight on Beeminder, an inDinero client who specializes in helping its customers reach their goals through a very unique and effective incentivizing process.

How Beeminder Works

Beeminder is based on a simple concept, which is that nobody likes to have to spend money unnecessarily! This concept drives Beeminder’s unique incentivizing process. Any quantifiable, graphable goal works — it could be weight loss, reading a book, even reducing your time spent on Facebook — and as long as you stay on track toward meeting your goals, the service is free. But if you don’t, Beeminder charges you — which users typically don’t mind, since they gain such value from the product. [Continue Reading...]

Ryan Mason

The Three Kings of Broke-dom: Spectacular Ways That Famous People Lost it All— and What Your Company Can Learn From Them

800px-Brunswick-Stop-80s-time_editYou’re rich and successful: what could possibly go wrong? Quite a bit, in fact. It’s remarkably easy to go broke when you have a lot of money, and although stories of famous people losing it all are well-known, companies lose it all for a lot of the same reasons. Let’s explore the stories of some of the most incredibly irresponsible millionaires in history and see if we can’t draw some wisdom from their broke-dom.

Allen Iverson: He Made it Rain Until the Rivers Went dry

That moment when you spot a casino you've never been kicked out of. (Image credit: Keith Allison)

That moment when you spot a casino you’ve never been kicked out of.
(Image credit: Keith Allison)

How can you blow 154 million dollars? It seems impossible to most of us, but it’s quite simple when you have an affinity for gambling and expensive goods. NBA legend Allen Iverson spent over $360,000 a month on everything from clothes and jewelry to dry cleaning and groceries at some points in his career.

[Continue Reading...]

Jon Spangler

inSide inDinero – Make ACH Payments + New Invoice Features

inDinero Newsletter - SMB Accounting, Taxes, Payroll - Software and Service

There are so many things that we’re working on to make your experience with inDinero better. As we write this post, we can’t help but smile. Helping businesses grow is why we come to work everyday and we’re confident that we’re making big strides in both our product and service to do just that.

Here are 4 things we want our customers to know about:

1. Make ACH Payments – Now you can pay your contractors or vendors via ACH payment, right from the inDinero dashboard!

Make ACH Payments through InDInero

2. Product – Coming Soon! In the next roll out, managing invoices will be even easier via inDinero. You’ll also be able to see, manage, and edit your client information. Also, quickly access the invoice history of any client and detailed information on what they owe. Below are a few highlights of the new invoice dashboard features:

Know exactly where your invoices stand from your dashboard. 

inDinero invoices dashboard

Filter your invoices by status or by client. [Continue Reading...]

Jon Spangler

Seed Investment: 7 Ways to Compare SAFE to Convertible Notes

Investors on your mind? Every entrepreneur should understand their options.


Our Financial Experts have put together this comparison of SAFE (Simple Agreement for Future Equity) to Convertible Notes.

So let’s start at the beginning. What is a SAFE?
It’s a new financial instrument created by the Silicon Valley accelerator, Y Combinator. SAFE was created for simpler, more easily understood seed investment.

Essentially, 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.

When evaluating which investment vehicle is best for you, you will definitely want to make sure that it aligns with your unique situation and your strategic goals. Let’s take a look the seven key variables that founders use when debating a financing deal.

1. Simplicity:
Convertible notes can be complex. A SAFE is a 5-page document that was created for the purpose of simplicity. With that being one of the primary goals of its creators, it is the obvious choice for simplicity sake in that it doesn’t carry an interest rate and doesn’t have a maturity date. [Continue Reading...]