New York City: Tax Services For Startups

Have a brilliant idea and an NDA preventing anyone from peeking at it? Truly successful companies win with superior execution, not superior ideas (see mistake No. 11). And by overprotecting your idea from being prodded and challenged, you’re weakening its probability of ever coming to fruition. Often, those individuals who frighten you as potential competitors are those whose feedback is most valuable.

How to adopt an effective cash management strategy for your startup

From quarterly estimated payments to the critical April 15th deadlines and beyond, we ensure you never miss a beat. Our financial model templates are used by hundreds of successful founders. We are a “tech-focused” firm and recommend/setup all different types of tools and softwares to our clients.

Contact us to learn more about how our Emerging Growth Company practice can help your business

A financial audit is an examination of the startup’s records of accounts and the statements independently to confirm their accuracy and conformance with the accounting standards. For an emerging growth company (EGC), an independent financial statement audit may be the farthest thing from management’s mind. All eyes are on raising capital, generating revenue, and scaling the business. Before pursuing an initial public offering (IPO) or other exit strategy, an early signal that a startup is approaching maturity is the need for a financial statement audit. Being prepared for your first-time audit is critical on your path to continued growth and may even boost investor confidence. By partnering with BC, startup companies can have peace of mind knowing that their operations are compliant and that they are minimizing any potential risks or penalties.

But remember, in accrual accounting, if you use a service/get invoiced by a vendor, you’ll see it on your income statement even if you haven’t paid them yet – thus, making your operating loss different from your cash burn.
Financial audits are typically conducted annually by an independent, third-party firm, and are typically undertaken as part of a regulatory or stakeholder requirement.
It’s important to note that auditors will usually – actually pretty much always – want to dig into supporting records.
Startups place a premium on innovation in their own businesses, and they expect the same from the companies they work with, including their auditors.
We understand the unique challenges that come with growing a business and have the expertise you need to reach your goals.
Really, how prepared you are and the quality of your financials matters the most.
Monthly accounting help is great for funded startups, but DIY accounting may work for many pre-funded companies.

Get an Accounting System

An accounting professional that’s on your side, available to answer questions and explain your financials, is invaluable in those negotiations. Azran Financial’s Certified Public Accountants and business consultants can advise you during the entity selection and structuring process. After your entity formation, our accounting firm’s startup accountants provide comprehensive accounting, tax, & advisory services. Outsourced accounting services range from full-service business management and bookkeeping to management consulting.

Hiring based on experience

We look to partner with our clients, going beyond the typical outsourced accounting relationship and seeking to provide a higher level advisory role. We feel honored to be a part of making the world a better place, even if it’s one debit and credit at a time. Most companies work with Graphite for long periods of time, as our service is extremely scalable and cost-efficient. There are “bandaid” accounting services that are more so quick fixes for short periods of time, and then there is Graphite…one of the few long term partners. Most of our clients work with us for years and years, and we take many through their exits, M&As, etc. For most startups, you don’t need 40 hrs/wk of work from an internal finance hire or team, especially when you first hire them.

We hold ourselves to a higher standard than other startup accounting firms and startup CFO’s…

Raising capital or considering an acquisition means you’ll need skilled accounting practitioners to help you. Another major area where CPAs can be much better than a simple bookkeeper are producing tax returns – and interacting with tax authorities like the IRS or state tax agencies. CPAs are legally allowed to provide tax services above and beyond what other accounting professionals can do. The best way to prepare for a startup audit is to have diligent documentation process from the start. I also recommend setting up an “” email box as soon as possible and cc’ing all accounting matters when corresponding with clients or vendors. That way both new accounting and finance staff and audit staff have an easily accessible audit trail….

What is the Startup Audit Process?

Alice.CPA is a certified accounting firm offering a range of services including financial auditing, tax consultancy, and business advisory. Our services are designed to provide comprehensive support for financial management and compliance. We have a strong focus on Entrepreneurs and Early Stage Startup Growth companies with a significant presence in Silicon Beach. We offer comprehensive outsourced startup accounting services. Founded by a serial entrepreneur and former business consultant, Azran Financial is the commensurate founder’s accounting firm.

And depending how buttoned-up your financials are, it may take some time.
This will include payroll records, invoices, bank records, etc.
There are only two ways — talking to customers and looking at data — that can verify the milestone has been hit.
While it’s dangerous to place too much emphasis on individual success stories (see mistake No. 25), it is even more dangerous to overlook the cyclical nature of market dynamics.
Joyce Mackenzie Liu shares insights on how to identify the right time to bring a full-time finance hire in house, and tips for finding the right person.
The “birthday paradox” shows that if you put 23 people in a room together, there is a 50% chance two will share the same birthday.
In addition to advertising experience, Elkins owned and operated a full-service restaurant for many years.

The offset to this on your balance sheet is cash – so you’ll have more cash flow than your income statement would “predict.” Not a bad problem to have… Watch our deferred revenue video here. Scaling a startup is hard work – but scaling startup auditing firms financial and HR backend systems shouldn’t be. The best startup accountants have worked with multiple high-growth companies, and know which software and systems are ready for hyper growth.