Common Tax Mistakes Startups Make

I love this blog post from Upstart Business Journal with 7 common tax mistakes US-based startups make.  And even though the post was from December 2012, the concepts and recommendations are so fundamental that I doubt they would change much year to year.  You can find the post here.  Their list includes the following:

  1. Choosing the wrong legal entity
  2. Not understanding your tax obligations
  3. Not asking for professional tax help
  4. Blending business and personal finances
  5. Not deducting business expenses
  6. Not using the right tools
  7. Not paying quarterly taxes

Get some good advice from a professional in the beginning.  Unwinding or correcting for some financial-related or tax-related mistakes can be a serious distraction and even risk your odds of fundraising.

Wait, there’s much more!!!

If you enjoyed this article, you’ll love what I cover in my video library called Founders Academy, which includes all of the key concepts and insights to help you dramatically increase your odds of success using topic-specific streaming video modules.  Click Here to Learn More

“Founders Academy is a must!  Gordon unlocked new value in concepts I thought I was already familiar with.” (startup founder)

Email Campaign Graphic - 1

Author: Gordon Daugherty

Over the past 15 years Gordon has seen nearly 1,000 startup pitches, advised more than 200 entrepreneurs and been involved with raising over $45M in growth and venture capital. Throughout his 28 year career in high tech, serving twice as President and three times as CMO, Gordon has both an IPO and a $200M acquisition exit under his belt. Now his emphasis is purely focused on helping startups and early stage tech companies. Through his Shockwave Innovations advisory practice and as Managing Director for Austin’s Capital Factory startup accelerator, Gordon is an active angel investor, VC and startup advisor.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s