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 for startups and early-stage companies. Industries we support with our professional services include tech, media, online retail, and healthcare and many more. Thanks to my public accounting experience, I am well trained in federal income tax, state and local taxes, cross-border tax, and a variety of other tax-related issues these companies might be facing. By analyzing current tax rules and regulations, we ensure our clients are always in compliance so they can focus on growing their blossoming businesses without worrying about going astray of government requirements.
Tax preparation is one of those services where cheap can be expensive. Using a proficient and resourceful accountant can save your company more money in the long term than it costs in the short term. I have seen tax accountants in the startup space who charge businesses a rock-bottom fee – any amount less than $1,000 for one federal and one state return. They will not be able to allocate much time for each return. They won’t take the time to review the numbers you submit, offer advice, or ask probing questions when your submitted data might appear to be off-kilter. That is not the kind of tax practice I want to build. At airCFO, our tax return preparation process typically involves two rounds of preparation plus two rounds of review before any information gets filed with tax authorities. We go beyond simply filing taxes; we provide value-added strategies. That means we are more expensive when compared against our competitors. But you get what you pay for, and we stand behind the meticulous work we perform on every return we prepare.
Working with startups is an intense and energizing experience. Adding to the dynamic environment at airCFO is the brilliant founders we interact with everyday. Our client base consists of exceptional, intelligent people, and many are quite young. Nearly all of them went to prestigious academic institutions, including Ivy League American schools and world-class international universities such as Oxford and Cambridge. I know education isn’t everything when it comes to being successful, but it is undeniably impressive to attend one of these institutions because the criteria for acceptance is stringent and demanding.
I love listening to their stories on how they decided to create their business ventures. Each of our clients aims to solve a problem or improve people’s quality of life with their products and services. A few are trying to find cures for diseases. Others are coming up with tech products such as apps and other software to make everyday tasks easier. Some are working towards creating a cleaner environment and preserving natural resources. They all have million-dollar ideas, and that’s why they attract investors. The passion and drive of these high achievers always inspires me to be the best I can be at my job. I am honored to play a part in my clients’ startup journeys, and I take great pride in the part I play to help them succeed. It’s a calling that I intend to pursue for many years to come.