In the fast-paced world of New York City’s startups, managing tax obligations with precision and foresight is crucial. At Kruze, we offer unparalleled tax advisory services that cater specifically to the diverse and ever-evolving needs of NYC startups. Our team of seasoned tax professionals is equipped to guide your business through the maze of state, city, and federal tax deadlines, ensuring compliance and optimizing your financial strategy.
Better analytics and planning
Top angel investors and VCs refer Kruze because they trust us to give the right advice. Our clients are portfolio companies of top technology and Silicon Valley investors, including Y-Combinator, Kleiner, Sequoia, Khsola, Launch, Techstars and more. With us, your books and taxes are in order when it’s time to raise another round of venture financing. Our team loves working with startup companies, not only that, but Kruze cares more! We’ve got the experience to help you make critical financial decisions. We have former VCs on staff to help prepare you for your next funding round, and former IRS agents on hand to assist you as you think through the tax ramifications of selling your company.
Cash Flow Statement and Planning
Tech startups often have significant intangible assets, such as intellectual property (IP), software, and patents. Tech startups require a different accounting due to several unique characteristics and challenges these companies face. We’ve designed month-end close processes for some of the best startups in the game. We set startups up for fundrising success, and know how to work with the top VCs. Even unprofitable startups must file annual federal and state taxes every year. Hitesh reviews US & Canada Individual, Corporate, Partnership, State and Local tax, Provision, and estimated returns.
Stay on top of all income and expenses
- There are a few other roles you will want to consider when developing your financial team.
- Generally Accepted Accounting Principles (GAAP) stands for Generally Accepted Accounting Principles; it’s the accounting “playbook” in the US that ensures that we’re all applying the same thought process.
- Well-maintained and managed finances can support your efforts to build business credit, obtain funding, and clinch partnerships with much larger businesses.
- A variety of expenditures can be involved in establishing a business; obtaining equipment or stock, market research, and even staff training can qualify as start-up costs.
- A good bookkeeping firm can also offer valuable financial advice and strategic guidance beyond basic record-keeping, helping you make informed decisions as your business evolves.
Performing a cash flow forecast (where you Accounting For Architects estimate cash coming in and out based on previous performance) will help you anticipate and plan for any shortages and surpluses and adjust as needed. It might seem a bit strange to use this as a metric because you want to judge candidates on their qualifications. Still, you need to ensure that everyone likes your accountant as a person and a personality within your company.
It allows you to identify trends, optimize spending, and strategize for long-term success. Solid accounting practices are essential for sustainable growth and attracting investors. Choosing the right accounting method from the beginning is a strategic decision that impacts investor relations and potential exit strategies. Consider exploring FinOptimal’s managed accounting services to help you adapt to these evolving needs. Think about how much time you or your team spends on repetitive bookkeeping tasks.
- The Credit for Increasing Research Activities, more commonly known as the R&D tax credit, allows you to carry forward the value of the credit into your future, profitable years.
- We have a deep expertise in eCommerce, DTC & CPG finance, from bookkeeping to inventory management to LTV/CAC analysis and more.
- At Knowcraft Analytics, she works on engagements related to M&A advisory, financial and strategic advisory, financial modeling, financial reporting, tax planning, and management planning purposes.
- Our team is ready to learn about your business and guide you to the right solution.
- Available to answer questions, available to update numbers as new data is produced, available to set up the right systems for a high growth company.
- Financial statements give you an idea about your startup’s current financial standing and help you plan accordingly.
The firm offers bookkeeping and accounting services for business and personal needs, as well as ERP consulting and audit assistance. Good bookkeeping provides entrepreneurs and small business owners with detailed, accurate, timely records that assist decision-making, taxes, and audits. It’s an essential part of good business management and business growth.
How To Conduct a Small-Business Valuation
Lastly, a startup accountant should have some knowledge or experience with your industry. Accounting for a new industry has a learning curve, and your startup does not have the time to wait while your accountant learns your industry’s unique needs. You need someone who can hit the ground running because they need to be part of the team leading your startup’s growth, not following behind it. Unlike a bookkeeper, a certified public accountant (CPA) can represent your business in a tax audit if your CPA is an Enrolled Agent (EA) with the IRS. Further, a bookkeeper will generally not be able to help you assess the cost of your operations and find areas for savings.