airCFO Tax 101: 1099s and Employee Classification: Part 2
In part 1 of this blog, we stressed the importance of correctly classifying employees, and highlighted some common mistakes startups make in this process. Aside from mistakes, we were also
Taxes
airCFO Tax 101: 1099s and Employee Classification: Part 1
One of the most common mistakes startups make with finance and HR is misclassifying their employees due to misunderstanding how the classifications work. The consequences for misclassification can be severe
airCFO Tax Internship: A Case Study in Remote Work
This post was contributed by airCFO Tax Intern, Bill Xu. I started my internship with airCFO’s Tax Team in April 2021, right after finishing a busy season internship at a regional
Tax Compliance Calendar 2022
We understand how busy you are and know things can fall through the cracks. To avoid any unwanted penalties and interests on compliance items, our airCFO service professionals have made
Supporting Startups is a Rewarding Career
Written by Baixue Ma, Tax Lead at airCFO Lately I’ve been reflecting on how much I love what I do here at airCFO. Currently, I handle tax compliance and advisory projects
Top Tax Mistakes Made by Startup Founders
Written by Baixue Ma, Tax Lead, airCFO Entrepreneurs and the companies they create are utterly unique. But the mistakes they make when it comes to filing and paying business taxes aren’t
How the Covid-19 Relief Bill Can Reduce Startup Business Taxes
Written by Baixue Ma, Tax Lead, airCFO The COVID-19 pandemic has caused significant challenges for some startup businesses, while creating tremendous opportunities for others. But no matter which category your startup
Accounting For Startups – How To Lower Your Tax Liability
Written by Baixue Ma, Tax Lead, airCFO As a startup founder, you know cash flow is the lifeblood for your business. But did you know that the accounting method you choose
Tax Compliance for Startups
Witten by Justin McLoughlin, airCFO Founder For any company, implementing optimization strategies to reduce tax liability and stay legally compliant is mission-critical to the health of the business. And startups are
Sales Tax Compliance For Startups
What it is, why you need it, and how to strengthen and protect your business There’s no way around it: taxes are complicated and cumbersome — especially for startups doing business
C Corporation Taxes: Advantages & Disadvantages
You may have heard rumors about the stipulations involved in C corporation taxes, but we’re here to set the record straight. Let’s take a look at both the tax advantages and disadvantages of formalizing your organization as a C corp.
How to Make Quarterly Tax Payments
If you’re a part of a startup or small business, hopefully you’ve got someone handling your bookkeeping who’s keeping track of your tax obligations, but if you’re starting out on your own or your business is structured as a partnership, like a LLC, you probably need to be making quarterly tax payments.
Know Your Tax Deadlines: When to File
If this is your first year in business, you might be wondering: are your tax deadlines the same? Does April 15th hold the same weight?
How a Net Operating Loss Can Hurt or Help Your Startup
We’ll be the first to say that cash is king, and without it no company can survive. However, depending on how you look at it, incurring more expenses than you generated in revenue, also termed as a net operating loss, could actually be a good thing.
When Are Business Taxes Due? A Quick Guide for Startups
Many entrepreneurs are shocked by the expenses they incur during their startup’s first year of operation. If you’re new to the world of startups, you may find yourself in a
IRS Audit Triggers to Avoid
Small business and startups taxes are complicated, especially if you’re new to your industry, but it’s important to make sure all of your ducks are in a row. If you don’t avoid these common IRS audit triggers, you might find yourself under special scrutiny.
The IRS Audit Process: How to Prepare for a Tax Audit
Good bookkeeping, transparent accounting practices, and quality financial planning should allow you to be ready for the IRS audit process, but you can’t always prepare for everything. Nobody is perfect, and you may very well just get unlucky, so here’s our tips on how to prepare for a tax audit, just in case.
Announcing Our Startup Tax Practice Launch
airCFO is excited to announce our startup tax practice launch. We have developed a new offering that brings Tax Accounting, Compliance & Advisory Services to our portfolio of 120+ startups.
Sales Tax Nexus By State
Online or off, you’re going to need to charge consumers for your goods with sales tax in mind. That said, each state’s sales tax nexus is different. What Is a Sales
FAQs When Filing Small Business Taxes for the First Time
Filing small business taxes for the first time can be a nightmare without the right tools. If you’re a founder new to small business or startup taxes, you’ll find some of the answers to your burning questions here.
Small Business Tax Deductions Checklist
Deductions reduce your taxable income, which in turn reduces the amount of taxes you owe. There are deductions available for all types of startups and small businesses. Here are a few of the most common small business tax deductions.
When & How to Make Estimated Tax Payments
For most Americans, taxes are a once-a-year moment of panic, but for many others — such as private contractors, freelancers, and small business owners — they are reminded quarterly via estimated tax payments.
Startup Tax Guide: 4 Deductions to Watch for in 2019
Startups can take advantage of a wide range of deductions. In fact, there are so many available, it can be difficult to know which ones are right for you.