Julie Parker

[Infographic] What Happens to Small Businesses That Don’t Outsource Their Accounting?

They waste a lot of time, that’s what.

This may sound stupidly obvious. But apparently it’s not. Because I recently took a look at the results of the National Small Business Association’s 2014 member survey and I was astonished to learn how much time small businesses that don’t outsource spend on accounting each year.

For example, did you know that a quarter of small business owners spend over 120 hours per year on their federal taxes alone? [Continue Reading...]

Melissa Hollis

Who said it? Taylor Swift or Jessica Mah?

I had a recent revelation and now have a confession to make. After years of fighting the feeling, I just cannot deny it any longer:

I love Taylor Swift.

Even after months of secretly playing “Bad Blood” on repeat in my car and singing along, I still claimed indifference. It wasn’t until I read an article featuring seven of her quotes on pushing yourself that my allegiance as a “Swifty” was solidified.

Besides inspiring me to work my ass off, there was something else that caught my attention about those quotes. [Continue Reading...]

Jon Spangler

Seed Investment: Comparing SAFE and Convertible Notes

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...]

Jake Moffett

7 Accounting Tips for New Small Businesses

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.

A few months in, my friend decides it’s now time to open a business bank account. [Continue Reading...]

Michael Cantalino

So, When IS the Right Time for a Small Business to Outsource its Accounting?

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...]

Rebecca Wilson

92 Tax Deductions Every Small Business Should Know About

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...]

Rebecca Wilson

inDinero Partners with WeWork to Help 30,000 Members Love Their Taxes

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...]

Alex Boyd

What Are the Main Differences Between QuickBooks and inDinero?

Yesterday, a ClickBricks user asked the community:

I saw inDinero featured in the September 2015 issue of Inc. and I was trying to figure out what makes them different than QuickBooks.

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...]

Rebecca Wilson

Yes, The IRS Cares About Your Back Taxes Even if You’re a Small Business

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...]

Ryan Mason

California Dreaming: How Delaware-Registered Companies Can Become Cali-Compliant

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...]