Simple Finance Course for Executives & Entrepreneurs

SRF is excited to announce it’s new course:  “Simple Finance: What You Need to Know When Outsourcing Any Finance or Accounting”a 4 week course designed to empower executives and entrepreneurs with nonfinancial backgrounds.

At the end of this course you will have a financial model you will be able to use for your business. You’ll have a clear understanding of your financial statements, accounting system and how to manage your business finances.

This course will provide you with a strong foundation so that you’ll feel confident when hiring accountants and finance personnel. You’ll know that you’re asking them the right questions to determine what’s best for your business.

Below is a breakdown of what each week will cover. To view the complete syllabus please click HERE.

WHO IS IT FOR: Executives and Entrepreneurs with Nonfinancial Backgrounds
TIME COMMITMENT: 1 hour per week for 4 weeks
WHERE: Live Online
WHEN: The first cohort will start on Feb 28th, 2017. Space is very limited.


“Quasi-California” Corporations Made Subject to California’s Corporate Laws

Even if your business is an out-of-state corporation, if it fits the profile of a “quasi-California” corporation then it is subject to specified provisions of California Corporations Code. Your Company is a “quasi-California” corporation if (1) more than half its business (based upon a three-factor formula including property, payroll, and sales) is done in California (the “doing-business” test); and, (2) more than half of its voting securities are held of record by persons having addresses within the state of California (the “voting-shares” test). Stubbs Alderton & Markiles, LLP, wrote a good post on the specifics of quasi-California corporations. Read more here.

SRF & Silicon Beach at the University of Southern California

SRF’s Managing Director, Mackenzie Chambers, is honored to be an advisor to Silicon Beach at the University of Southern California (Silicon Beach @ USC). Now in its 5th year, the Silicon Beach @USC conference will feature game-changers and thought leaders from Hollywood studios, enterprise technology and service providers, LA-area startups, and more. Scheduled for October 14th on the USC Campus, the sessions will focus on the unique synergy of innovation, creativity, entrepreneurial thinking and technology that is driving the startup ecosystem and that continues to disrupt almost every major industry.The conference will explore:

  • How Acquisitions are Driving Innovation in the Enterprise – and what this means for entrepreneurs and investors.
  • Tech Platforms, ROI, & Leadership – Exploring the business case for adopting new technology platforms and services, and how technology leaders can reap maximum value from their investments in new initiatives.
  • The future of entertainment – The trends that will have the biggest impact in 2020 and beyond. (AR/VR, multi-platform, OTT, digital advertising, etc.)
  • Reaching the 21st Century Consumer – The future innovations in marketing that will take us beyond ad blocking and build authentic and sustainable relationships with customers.
  • Storytelling, World-building & the Business Of Fun: Gaming & Interactive Entertainment.

Speakers Include:

  • Jon Kraft, co-founder, Pandora
  • Ted Ross, ‎General Manager, CIO at City of Los Angeles
  • Sean Kundu, Vice President, New Ventures at San Francisco 49ers
  • Matt Crowley, author, Winning the Game: How to Successfully Sell Your Business
  • Andrew Stalbow, CEO & Co-Founder, Seriously
  • David Ring, founder, David Ring Media and former Executive VP, Universal Music Group
  • Gordon Bellamy, Visiting Scholar, USC School of Cinematic Arts & Advisor, TheWaveVR

Click here to register for the conference:

Business Accounting Basics Seminar Recap

Thanks to the Bixel Exchange for the coverage on our August 23rd “Business Accounting Basics” seminar in partnership with the LA Law Library.

“Every business decision must be made with an eye toward the bottom line. How else would you keep your doors open, otherwise? The LA Law Library workshop with Bixel advisor and accounting expert Mackenzie Chambers of Square Root Financial helped navigate more than 20 entrepreneurs through accounting essentials, including fundamentals of financial modeling, the importance of cash flow, and key financial statements that provide an insightful look into the health of your company.”

If you have business accounting questions, feel free to reach out to us at

Important 2016/2017 Tax Dates

Taxes always seem to sneak up on us. Before you miss a deadline, put these key tax dates in your 2016/2017 calendar. If you need help meeting these deadlines or need any tax planning advice, feel free to reach out to us at:

Note: in 2017 the traditional due dates for partnerships and C Corporations changed. See below.* Also, please note tax deadlines never fall on a federal holiday or a weekend. If the normal due date is on one of those dates then the actual due date will be the following business day. Happy Tax Planning!

SEPTEMBER 15th, 2016

  • 3rd quarter estimated tax payments due for the 2016 tax year
  • Final deadline to file corporate tax returns for the year 2015 if an extension was requested
  • Final deadline to file partnership tax returns for the year 2015 if an extension was requested

OCTOBER 1st, 2016

  • Deadline for self-employed persons or small employers to establish a SIMPLE-IRA for the year 2016

OCTOBER 17th, 2016

  • Final deadline to file individual tax returns for the year 2015
  • Final deadline to fund a SEP-IRA or solo 401(k) for tax year 2015 if you requested an automatic extension of time to file

DECEMBER 1st, 2016

  • If you are covered by an HSA-compatible health insurance policy as of December 1st, you’ll be eligible to contribute to a Health Savings Account for the year

DECEMBER 31st, 2016

  • Last day to make any tax moves for the year 2016. Last day to set up a solo 401(k) for self-employed persons
  • Marital status on this date determines your marital status for the whole year

JANUARY 17TH, 2017

  • 4th quarter estimated tax payments due for the 2016 tax year

MARCH 15th, 2017

  • Partnership Return Due*
  • S Corporation Return Due

APRIL 18TH, 2017

  • Deadline to file individual tax returns for the year 2016 or to request an Automatic Extension. An extension provides an extra six months to file your return. Payment of the tax is still due by April 18th. You can submit payment for tax along with the extension form
  • C Corporation Return Due*
  • Last day to make a contribution to traditional IRA, Roth IRA, Health Savings Account, SEP-IRA or solo 401(k) for the 2016 tax year. (If you get an extension, you will have until October 15th to fund a SEP-IRA or solo 401(k))
  • 1st quarter estimated tax payments due for the 2017 tax year

JUNE 15th, 2017

  • 2nd quarter estimated tax payments due for the 2017 tax year
  • Deadline for US citizens living abroad to file individual tax returns and to pay any tax due. You can request an additional 4-month extension

SEPTEMBER 15, 2017

  • Final deadline to file partnership and C Corporation returns for the year 2016
  • 3rd quarter estimated tax payments due for the 2017 tax year

OCTOBER 16, 2017

  • Final deadline to file individual tax returns for the year 2016

The IRS Finds Pokémon Go

Over the past week, I’ve been watching my friends & colleagues chase little animated creatures around town, narrowly avoiding walls and cars. For those who don’t know how it works, players use Pokémon Go’s geo-location feature and their phone cameras to find virtual Pokémon in their area in real time and receive points. It’s amazing how Pokémon Go & augmented reality has become a “thing” in such a short period of time. As with many “things”, the IRS has decided to weigh in.

“If you receive more income from the virtual world than you spend, you may be required to report the gain as taxable income…when you spend more in a virtual world than you receive, you generally cannot claim a loss on an income tax return.”

Not exchanging cash? Swaps of goods for services or barter deals are taxable (unless it’s a like-kind exchange or for partnership and corporate formations). While it is taxable, a non-cash deal is harder for the IRS to find. I recommend consulting with your tax advisor. Now enough of this tax talk, time to get back to the game.