The IRS Opens Up Electronic Submission for Power of Attorney
Getting the power of attorney for a client used to be an unenjoyable venture, especially for major tax firms, like Kruze Consulting, who have multiple clients to consider.
How To Move Your Startup’s Fiscal Year-End From December 31st to January 31st
Startup founders, do you want to know how to move your startups’ fiscal year-end from December 31st to January 31st? Well, you’ve come to the right place.
Trump Organization Tax Fraud Case - Lessons for Startups
Companies love offering indirect benefits to their employees. Employees love receiving these indirect benefits and perks. But, do you know that many of these perks are taxed?
Paying back the COVID Payroll Tax Deferrals
This article is about how to pay back CARES act payroll tax deferrals. The Coronavirus, Aid, Relief and Economic Security Act (CARES Act) let employers defer payment of the employer's portion of the Social Security tax (see IRS Notice 2020-65) This was NOT free money like the PPP Loan; companies are required to back these deferred taxes.
Vaccine Tax Credit for Startups
The Vaccine Tax Credit was a tax credit created under the Families First Coronavirus Response Act (FFCRA), and was announced earlier this year by the President.
What Salaries Did Startup CEOs Earn in 2021?
One of the most common questions CEOs ask us at Kruze Consulting is: “How much should my salary be?” Since the Kruze team helps run startup’s books and payroll, it’s natural that we’d get this question. We looked at our payroll data for over 125 seed and venture-backed startups to come up with the answer.
Form 3921: Everything you need to know
Form 3921 is an IRS Form that reports the exercise of an employee Incentive Stock Option (ISOs). Note that ISO’s can only be issued to startup employees, not contractors.
Compilation vs Review vs Audit
If you’re a startup, chances are at some point your investors have asked you to provide “Audited GAAP Financials” for your next fundraising event. However, few investors truly understand the cost and time involved in providing Audited GAAP Financials.
Where Should Your Startup Incorporate
If you are a startup and you are going to get venture capital financing, you should consider incorporating out-of-state and become a Delaware C-corp. This means your initial incorporation happens in Delaware. There are a few reasons why you would want to do this and this article will discuss a few.
A Guide to Tax Returns for Seed Stage Startups
It’s tax season once again and for seed stage startup founders, there’s a lot to know. At Kruze Consulting, our tax experts work with early stage companies through all stages of the tax process. Here are the most commonly asked questions we get from founders.
Webinar: Life Science Startups Can Lower Operating Costs During COVID-19
Our friends from TriNet have invited Kruze Consulting COO, Scott Orn, to host a roundtable to discuss end-of-year planning and outline the activities that life sciences companies need to consider while moving into 2021.
Leading ScaleFactor Alternative
Kruze Consulting is a leading alternative to ScaleFactor. Our team assists hundreds of high-growth companies with their books, taxes and provides CFO level support. Learn more now.
Warrant Coverage Venture Loans
The rationale for a warrant coverage or a little bit of equity upside for the lender is that they're taking a lot of risk here.
Jan 31st Startup Tax Deadlines
It’s another busy tax season - and here at Kruze Consulting, we are working hard to make this time of the year go smoothly.
Company-specific tax filings
Not all tax filings are due on the same date for every company. In fact, many state and local compliance deadlines depend on… well, maybe when your startup first filed the initial filing, or incorporation, or when your business crosses a specific threshold - it really can vary by jurisdiction. Here are some of the state and local filings that vary based on your particular circumstances.
2019 Kruze Training Offsite
The Kruze team is getting together this week for networking, training and 2020 planning.
Kruze Consulting recognized as one of the fastest-growing companies
We are pleased to be growing fast - almost as fast as our best startup clients! We’ve recently been recognized as a fast-growing company by several prestigious publications in the US and the Bay Area.
10 Things to Get Ready for before Tax Season
Nobody likes tax season - even unprofitable startups have to file returns. And that means paperwork, competent financials…time startup CEOs could be spending growing their business.
Don’t let these October 31st tax deadlines scare you
On Halloween, Oct 31st, startups on Seattle, San Francisco, and New York, plus C-Corps in the US, have some major tax deadlines! But don’t be afraid, we have you covered.
10 Reasons Why Startups Can’t Use Their Payroll Provider for 1099s
1099s are a pain - somewhat mindless paperwork every startup needs to send to their contractors and many vendors like law firms.
571-L SF Property Tax Statements for California Startups
If your startup has a location in California, then you likely have the pleasure of needing to file a 571-L SF Property Tax Statement. What is the Form 51-L?
Tax Time Smoothies
Continuing our tradition of focusing on employee wellness, we recently brought in some healthy smoothies to help our team deal with the stress of tax time.
Happy #WellnessWednesday Nuts!
Have you had a week… let’s say.... a bit nuts?! Well, we’re also working hard at Kruze Consulting because it’s TAX season, 1099’s were due, year-end accounting is pretty important… (side note, check out our tax deadline calendar here for startups) things can get a bit busy.
Startup Corporate Tax Returns and Employee Options
How to get a Startup Stock Option Exercise Report for your startup’s tax filings. Startups are required to report to the IRS the amount of compensation for services granted to employees and contractors through stock option exercises.
Q3 2018 Startup Tax Deadlines
Unfortunately for startups in the United States, tax deadlines aren’t just in the spring. Beyond the April 15th deadline (it was actually April 17th in 2018), here are SOME of the other deadlines your startup needs to be aware of in the third quarter.
Startup Alert: Supreme Court Rules on Sales Tax
The Supreme Court has overturned a 1992 precedent that allowed online businesses to only collect sales taxes in states where they had a 'physical presence'.
4 Reasons to Raise Venture Debt
Today we're talking about four reasons to do ventured debt if you're a startup. Now, the most important one is to extend your runway and make sure you hit all the key milestones the company needs to raise its next round of capital.
Why Do Startups Need a 409 Evaluation
The IRS wants you to have a 409A valuation so they can make sure that your common stock options have the appropriate strike price.
Tax Reporting ISO and NQSO
This is a big question that we get in December and January of each year. What should we be doing with all of those employees and contractors that you've given ISO's and NQSO's too?
Startup Tax Return
How much should be a startup tax return cost?
Section 382 Triggers
Section 382 is a part of the IRS code that was developed about 20 or 30 years ago to limit corporations' use of their net operating losses to offset profits.
SAAS Sales Tax
SAAS sales tax does exist, it's not just for tangible goods. A couple of years ago various states put into place SAS sales tax.
R&D Tax Credit Expense Categories
If you haven't heard, R&D tax credits have really changed dramatically over the past couple of years.
Delaware Franchise Tax
There are three really important things that you need to keep in mind when you're filing Delaware franchise tax.
California Statement of Information
There are three really important things to think about when you're considering filing a California Statements of Information.
California Franchise Tax
There are three really important things to keep in mind when you're thinking about California Franchise Tax, so let's go ahead and go over them.
1099 IRS Forms
1099s are an IRS form that you've got to get out to your contractors by January 31st.
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Creating Magically Simple Business Payments.
Introducing KruzeTax - Startup Tax Returns
Tax Season is upon us! Instead of using a local CPA firm (way too expensive & no Startup expertise), check out KruzeTax.com.
What is the best and cheapest registered agent in Delaware that has experience with tech startups?
I’m going to expand this question a bit…Why does a startup need to have a Registered Agent in Delaware?
Do bootstrapped startups actually pay taxes?
Yes, even bootstrapped pre-revenue startups must pay taxes. You might not be subject to Income Taxes (which are based on profitability) but you will still be subject to a wide variety of other taxes which aren’t always connected to Revenue.
2018 New Tax Laws & How they Affect Startups
The Good, The Bad and The Ugly.
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What Startup's Accounts on the Balance Sheet Need to be Reconciled
The punch line here is that every single account on the balance sheet needs to be reconciled, not just the bank and the credit cards.
Startup's Due Diligence Information Venture Lenders Ask For
The first thing they're going to ask for is your historical financials.
IRS Audits and Startups
What can I do to make sure that I am prepared for an IRS audit? Ultimately, how can I make sure that I don't get it to an IRS audit situation?
Financial Modeling Basics for Startups
There are really five things. First of which, you do need three years worth of projections.
Best Systems for Paying your Startup's International Contractors
We typically recommend Bill.com, but they don't do the international.
Why Should Startups Use Bill.com
There are really three main reasons why you absolutely want to be using Bill.com.
Why Do Startups Take Venture Debt?
At Kruze Consulting, we get tons of questions about venture debt. Should a startup take it? Is it good for the startup?
Investor Abandonment Clause on Venture Debt
We're mainly referring to investor abandonment and venture debt term sheets.
What Startup Systems to Set Up First?
We help venture back startups with everything from accounting, finance, tax, and HR. One of the biggest questions that we get from our new founders is what systems they should set up.
Bookings vs Revenue
At Kruze Consulting, we get tons of questions about the difference between bookings and revenue.
2017 Startup Tax Compliance Calendar
It's 2017 and time to start Tax Planning for your Startup! Don't worry, we've done all the work for you by creating customized 2017 Startup Tax Compliance Calendars for Startups based in San Francisco, New York, Palo Alto and Santa Monica.
2016 Tax Compliance Calendar for Startups
Happy New Year Startups! Concerned about your 2016 Tax Deadlines? We've done the work for you with this complete 2016 Tax Compliance Calendar.
The Recent Flurry of IRS Change of Address Notifications
Over the past week you may have received a Change of Address notice from the IRS. We called the IRS about this and discovered that the IRS added another line to everyone's address block (%ABCInc - see the Kruze version in the photo above). This extra line triggered a Change of Address for everyone including at least 20+ Kruze Consulting clients.
Startup CFO Tax Checklist: Key Dates for 2015 Taxes
As the Consulting CFO and CPA to over 70 venture backed startups, the most common question I get asked every January is, “What do we need to do about taxes? What about this Delaware Annual Filing? And SF Payroll Tax Expense?” So about this time every year I send out a customized road map to all of my clients that details everything they can expect for the coming year. I wanted to share this “cheat sheet” with you, but keep in mind that this is just a “cheat sheet.” Please reach out to me or your local CPA about tax filings that are specific to your business…because every startup is unique!
How much can your startup save in payroll taxes?
Estimate your R&D tax credit using our free calculator.
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