Startup Tax Credit

There is a new tax credit (up to $250K per year & $1.25M total per company) which allows 2016 R&D expenses to generate a tax credit to be used against 2017 payroll taxes.

Details:

  • 2016 qualifying expenditures include wages and costs related directly to software development
  • For each dollar of qualified expenditures, your company receives a payroll tax savings of up to 7 cents in the next year for federal payroll taxes, and depending upon the state, may also save in state income taxes
  • If you had a net loss and didn’t owe taxes in 2016 you can still get a tax benefit for future years
  • Note: your company must have had zero revenue prior to 2012 and no more than $5 million in gross receipts in 2016 to use this credit

For more information please contact accounting@squarerootfinancial.com or your tax advisor.

Is there a “right” price for your business?

Setting a price for your product or service can be tricky. If you price it too high then you’ll scare potential clients away. If you price it too low, you’ll miss out on profit for your business and clients may not view your business as having as much “value” as a higher priced product or service.

Learn how to set the right price for your product or service with Simple Finance for Entrepreneurs. The next cohort starts on February 28th! Sign up HERE .

Women Founders Network Annual Fast Pitch

On October 21, 2016, Women Founders Network hosted its annual fast pitch competition at Cross Campus in Downtown LA. Square Root Financial was honored to be a pitch coach for the third year in a row.

It was an impressive roster of companies who presented. The top 10 included: GATE college system, Kitterly, Tot Squad, Genneve, Markett, EmoJam, NailSnaps, CityMoms, Verde Circle and WeReach. It was a tough competition but the winner was Genneve, a natural lubricant for women. The winner was awarded $30K plus $50K in in-kind services. Congratulations to Genneve and all of the other top 10 finalists!

Business Accounting Basics Course

Square Root Financial is partnering with the LA Law Library and the Bixel Exchange to teach Business Accounting Basics to entrepreneurs. The course will cover:

  • Basic accounting terminology
  • Understanding key financial statements like income statement, balance sheet, and cash flow statement
  • Fundamentals of financial modeling

When: Tuesday, August 23rd, 12-2PM

Where: LA Law Library, 301 W. 1st Street Los Angeles CA 90012

For more information or to register please visit: http://bit.ly/296oDJl

Hope you can join us!