Tools

Search

Explore

Videos Channels Figures

Atmrix

About

Tools

Search

Explore

Videos Channels Figures

Atmrix

About

YC

Y Combinator Cast

04/28/17

@ Y Combinator

Keep your receipts organized so when you hire a bookkeeper or CPA for tax returns, they can accurately identify business expenses.

Video

YC

Legal and Accounting Basics for Startups with Kirsty Nathoo and Carolynn Levy (HtSaS 2014: 18)

@ Y Combinator

Legal and Accounting Basics for Startups with Kirsty Nathoo and Carolynn Levy (HtSaS 2014: 18)

04/28/17

Related Takeaways

YC

Y Combinator Cast

04/28/17

@ Y Combinator

As a founder, you must be involved in financial documentation because your bookkeeper or CPA won't know the specifics of your business expenses.

KN

Kirsty Nathoo

08/22/19

@ Y Combinator

Outsourcing financial responsibilities to a bookkeeper is normal, but the CEO and founders must still understand the financial numbers and question any discrepancies in reports.

KN

Kirsty Nathoo

04/28/17

@ Y Combinator

Business expenses, such as employee salaries and office rent, are crucial for startups as they can be deducted from taxes, reducing the overall tax burden on the company.

KN

Kirsty Nathoo

04/28/17

@ Y Combinator

When considering expenses, founders should ask themselves if they would feel embarrassed explaining their spending to investors; if so, it likely isn't a legitimate business expense.

YC

Y Combinator Cast

04/28/17

@ Y Combinator

When searching for an accountant, consider recommendations from those familiar with startups, as they understand the unique challenges involved.

KN

Kirsty Nathoo

08/22/19

@ Y Combinator

You should know your bank balance, the money coming in, and the money going out to ensure your company's financial health.

YC

Y Combinator Cast

04/28/17

@ Y Combinator

Set up a payroll service to manage employee payments and payroll taxes effectively, as neglecting this can lead to severe financial consequences.

CL

Chandan Lodha

04/03/24

@ Y Combinator

If you need help with crypto taxes or managing your portfolio, check out CoinTracker.

GT

Garry Tan

10/18/19

@ Garry Tan

Be aware of your company's growth rate and how much you're spending versus your revenue.