Smartco Corp is a 2-year old startup that recently started selling product to a few large customers. They have 30 employees and a $250K monthly payroll. Recently, Smartco ran into a serious cash flow problem due to a late-paying customer. Most startups will experience cash flow problems....
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Dumbo Corp is a 2-year old startup that recently started selling product to a few large customers. They have 30 employees and a $250K monthly payroll. The employees are paid on a monthly basis and Dumbo runs its own payroll through QuickBooks. Recently, Dumbo ran into...
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Well, maybe not today, but certainly within the next month. Get an Employer Identification Number (EIN) from the IRS. You have an SSN – this is the corporate equivalent. Get it here https://sa1.www4.irs.gov/modiein/individual/index.jsp Register your business with your State’s DOR. Most states require you to file and...
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To help those legalese challenged, we took the 10 most common terms found in a typical Venture Capital (VC) term sheet and tried to explain them very simply. Many of these terms can take on many different meanings, though, so we tried to use the...
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In our work at venture-backed startups, we are amazed at how hard new employees will negotiate pay, benefits, workspace, duties, titles, etc. and just totally accept their equity compensation. So, we have prepared six questions that will make you look really smart and help you understand...
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As a follow-up to our recent post regarding the proposals to tax carried interest as ordinary income, there is a significant tax planning opportunity for service partners (partners actively providing services) who have inter-partner loans. Our discussion covers President Obama’s American Jobs Act of 2011...
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