Jim Gellas’ Post

Do you dread tax season? You aren't alone. However, approaching your taxes accurately is a must. Filing incorrectly can be costly, resulting in fines and other compliance issues! Our Financial Operations Support services offer accuracy and expertise so that you don't have to stress when tax season arrives. Learn about our general accounting support and tax and regulatory compliance expertise at https://lnkd.in/gHdptqQY. ✔️ #startup #startups #startupfinances #businessfinances #taxseason #taxtips #fractionalcfo #cfo #accounting #innovation #entrepreneurship

Maximize tax savings by carrying forward Net Operating Losses! 🧾💼 The IRS caps it at 80% of taxable income. Plan smart, save big! #FinancialTips #SmallBiz #SelfEmployed #TaxStrategy #IRSHelp #LLC #Startups

Small business challenges - Part 1 Challenges are inevitable as a small business but it can be addressed with proactive strategies to improve chances of success and growth. 💡What are some of your challenge as a startup or small business?? #smallbusiness #smallbusinessowner #alliedfunctions #smallbusinesssupport #small #startup #startuplife #challenges #smallbusinesschallenge #overcomingchallenges #support #supportsmallbusiness #taxes #tax #taxexemption #financeadvice #finance #financeliteracy #business #businesstips #budget #strategy #ghana #businesssupportservices #financeservices

Business challenges - Part 2 💡Let’s delve into the second part of challenges you might face as a small business. 📌Let us know some of your challenge as a startup or small business, we are here to support you push through. #smallbusiness #smallbusinessowner #alliedfunctions #smallbusinesssupport #small #startup #startuplife #challenges #smallbusinesschallenge #overcomingchallenges #support #supportsmallbusiness #taxes #tax #taxexemption #financeadvice #finance #financeliteracy #business #businesstips #budget #strategy #ghana #businesssupportservices #financeservices

Profit making Startups often make a mistake by withdrawal from company’s fund. Here I am not talking about salary, remuneration and other perquisites. Here I am talking about the Loan and Advance taken by Shareholders from company. I have seen in many cases where startups withdraw funds for few days being a Loan or Advance and pay it back when their requirements get fulfilled. Before taking such an action it should be known that such transaction may invite Income tax implication on withdrawal. The withdrawal from company’s account may consider as ‘‘Deemed Dividend’’ under section 2(22)(e) of the Income tax act. There are hundreds of case laws where tribunals as well as Courts have held that such transaction is ‘Dividend’. It doesn’t matter whether loan is repaid. Once you fall into the criteria of section 2(22)(e), such transaction may subject to income tax. Even the loan is repaid in a single day it may also be taken as dividend income. It’s a common mistake that Startups often make unknowingly but result of such mistake creates huge demand of income tax. #Incometax #Dividend #Startups #Proceedings #Directtax #Taxdemand #Taxauthority #Taxsimplification

Eqvista's Founder and CEO, Tomas Milar, was recently featured in Forbes Finance Council's "20 Expert Accounting Tips Every Small Business Owner Should Know." His advice on early issuance of founder shares to minimize tax liabilities is a valuable tip for entrepreneurs. Read the full article here: https://lnkd.in/gg4TzTSn Forbes Councils #founders #startups #equitymangement #captable #taxation

If you file quarterly estimated tax payments, consider this your friendly reminder that the second-quarter deadline ⏰ is fast approaching! Be sure to complete federal and state (if applicable) payments by June 17, 2024, to avoid any penalties or interest on the tax owed. As always, reach out if our team can be of assistance. 🤝 ✉️ barbara@moneymasters4biz.com 📞 262-749-4709 #WIbookkeeping #smallbusinessresources #bookkeeping101 #financialmanagement #smallbizbooks #moneymanagement #bookkeepingservices #accounting101 #smallbusinessfinance #entrepreneurialaccounting #Startups #Technology #Future #financialorganizing #BalanceSheet #CashFlowManagement #ExpenseTracking #FinancialReporting #QuickBooks #EntrepreneurFinance

Ready to start your business? Our "Starting Your Business 101" blog series has you covered! We will cover everything you need to know to get your business off the ground. From legal structures to funding options, we've got you covered. See the links below: Choosing a business structure: https://lnkd.in/eZnx7nTn Setting up for tax: https://lnkd.in/eQGhXccn Sources of funding: https://lnkd.in/eQXiriMZ #StartUp #BusinessStartUp #Funding #Tax #LegalStructure #Business #BlogSeries

🎄🎅 This Christmas, gift your startup the perfect pitch! 🎁 Clean finances, compliance, and projections—all wrapped by FACTOps. Let’s grow together! ✨📈 To know more about us click on the link below ⬇️ https://lnkd.in/dCp7AHpc #merrychristmastoall #merrychristmas #merrychristmasyal #fact #business #finance #compliance #tax #financialconsultant #funding #registration #Startup #financialmanagement #taxsolutions #startupfinance #compliancehelp #taxstrategy #businessgrowthtips #startupfunding #financialplanning #entrepreneurfinance #foundersupport