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Get Your Docs in a Row with Document Management

Posted by Celene Robert to Accounting, inDinero Product Updates, Business, Startup Tips

We know the moment well: you need your business’s tax return from the early 2000s and you know it's saved somewhere on your computer. However, the name, location, and really any other detail eludes you, as decades have passed. After 30 minutes of aimless searching, the tax return surfaces under an obscure filename.


Don’t let search get you down.


With Document Management (or Doc Management, as we like to call it), you have more control over all your business’s documents. As your virtual filing cabinet, you can upload, view, download, or delete important files like tax return, cap tables, or monthly billing statements.

Start Hiring Sooner—the IRS (and Your State) Will Literally Pay You To Do It

Posted by Celene Robert to Taxes, Accounting, Business Advice, Payroll, Business, Startup Tips

Hiring? If you run a startup, you probably should be. Job growth is up, unemployment is down, and our country’s already competitive labor market is on track to tighten even further in the coming months.


Long story short: now is the time to focus on employee recruitment and retention. Fortunately— for once—you can count on the Internal Revenue Service for help. Numerous tax credits cover costs associated with hiring. In fact, the United States tax code is full of benefits and incentives aimed at helping emerging companies like yours create jobs. Check out a few ways the government will literally pay you to hire people:

What Could Your Startup Accomplish With an Extra $250K in 2019?

Posted by Celene Robert to Taxes, Accounting, Business Advice, Business, Startup Tips

A quarter of a million dollars could transform your startup. Or it could buy you a vintage Taco Bell hot sauce packet. No joke—as of this writing, that is a genuine listing on eBay: one unopened pouch of Taco Bell hot sauce, circa 1984–1992, priced at exactly $250,000.


If you can think of better ways to spend $250,000 (or if collecting expired condiment packets is truly your definition of Living Más—I won’t judge), you should consider claiming the United States Research Experimentation Tax Credit, commonly referred to as the R&D Tax Credit.


How Founders Can Prioritizing Their Spending to Maximize Business Growth

Posted by Hiten Parmar to Budgeting, Startup Tips

Founder of Amazon, Jeff Bezos, says, “We cannot be in survival mode. We have to be in growth mode.” Any business must be growing to survive and flourish, especially in its initial years. No matter how compelling your mission statement is, as a business, you have one prime purpose: Making money.


In every possible scenario, you need to spend at least some money to make money. Most business ventures fail soon after launch or midway, when they have flaws in their strategies, so making the right decisions about what your business prioritizes and invests in is the most crucial part of being a founder or CEO.


Unfortunately, you see thousands of admirable of businesses and entrepreneurs who waste initial capital or seed funding by plunging money in some business functions while underinvesting in the initiatives that would’ve moved the needle. The primary cause of businesses to flounder is improper or maverick investment strategies.


Here we look at proven and workable means on how to invest your capital for maximum business growth.

 

Yes, it is Possible to Grow a Large Startup Team in a Coworking Space

Posted by Andrew Broadbent to Budgeting, Startup Tips

When people think of coworking spaces, the image that comes to mind may include solopreneurs and freelancers working amongst each other in an open space layout, but, the fact is, startup teams and even major Fortune 500 businesses are also thriving in shared work environments.

 

The commercial office space as we know it is transforming into a new, more collaborative workspace design and now many growing businesses and even enterprise corporations are fueling the demand of the coworking trend. Let’s dive into some of the value that innovative startups get from working out of shared workspaces.

Taking Out a Business Loan? Don't Forget These 6 Steps [To Do List]

Posted by Matt Lenhard to Budgeting, Loans, Startup Tips

After I signed on the dotted line, the real work began. The funds from my business loan were sitting in LendEDU’s bank account, and we finally had the capital we needed ahead of the busiest time of the year.


Getting your small business loan funded is an exciting time for an entrepreneur. While you want to take time to celebrate, you also know that you need to get down to work and use that money to grow your business.


Locking down the money is, after all, only half the battle. You also want to make sure you have everything in place to spend it right and be in a position to repay the loan responsibly so that you can build good business credit and set yourself up for future borrowing success.

 

Examples of Qualified Research Expenses That Prove the R&D Tax Credit Isn’t Just for Big Businesses

Posted by Melissa Hollis to Taxes, Business Advice, Startup Tips

 

One of the most momentous parts of business is nailing down what makes your product or service different. For some companies, like law firms, this can be the talent, experience, and expertise of your team, or even just your location. However, outside of professional services, many companies define their competitive advantage by identifying new problems to solve or coming up with new ways to solve them. So, it’s those innovative entrepreneurs whom I’d like to introduce to the R&D Tax Credit.

 

What is the R&D Tax Credit?

Since 1981, the United States federal government has offered the research and development (R&D) tax credit as an incentive for companies who research and develop new products. What started as a temporary, trial-based credit has recently become a permanent part of the federal tax code due to its success in stimulating job creation and helping to solidify the U.S. as an economic leader on a global scale.


But, its effects could be even greater.

Prepping for Your First Investor Meeting? Do These 4 Things to Build a Strong Business Foundation for Receiving Funding

Posted by Melissa Hollis to Investment, Accounting, Business, Funding, Startup Tips

There are many articles out there that provide a wide array of lofty advice about fundraising. Some of the groundbreaking tips in those articles may cause you to rethink minor details such as the order of the slides in your deck or even something as major as your go-to-market strategy. This is not one of those articles, but we do have an ebook full of stories that are sure to inspire here.

3 Signs Your Startup is Ready for an ERP System

Posted by Brooklin Nash to Business, Startup Tips

Computers have long since become an integral facet of companies of all shapes and sizes. With computer systems becoming more complex and adaptable, they have been able to meet the demands of both giant manufacturing organizations and small B2B operations. For companies both large and small, there comes a point when operations are made much easier by implementing an Enterprise Resource Planning (ERP) system.

 

Your Small Business Can Afford to Offer Retirement Plans—Here’s How

Posted by Damian Davila to Investment, Business Advice, Budgeting, Startup Tips

In the past, many small business owners have thought that providing a 401(k) plan wasn’t realistic for their employees. Perhaps they felt they were too small, that the plans were too expensive, or that the administrative burden was just too high.


Luckily, this is no longer the case, and not only is it possible—and affordable—for companies of any size to start providing a savings plan, but getting an early start is also advantageous from a tax-saving perspective


Consider this:

  • A recent Glassdoor employment confidence survey found that 31% of workers value a 401(k), retirement plan, and/or pension over more than a pay raise.
  • Approximately two-thirds of workers not saving for retirement say they would be likely to save for retirement if their employer used automatic paycheck deductions at either 3% or 6% of salary.
  • In 2018, workers can make tax-deductible contributions of up to $18,500 to a 401(k).

The other good news is that in this tight job market, offering a workplace retirement plan is a great way to make your business stand out from the competition. However, it’s not just employees who can draw huge benefits: as it turns out, employers can also reap some incredible tax credits and deductions for providing a 401(k).

Success starts when you take charge of your finances.

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