Being a start up is hard enough. San Francisco and the San Francisco Bay Area are hotbeds of start-ups – especially in technology but also in other industries such as biomedical or social media. Most start-ups realize that they need a good attorney, as a good attorney gives legal advices on how to set up the corporation, deal with founders vs. investors, patent issues, and other issues that are important at the early stage of a business startup.
But, according to a recent study published in the Wall Street Journal, many start-ups pay little head to the need for good financial advice. Safe Harbor CPAs, located in San Francisco, is a firm keen to help small businesses of all types – whether those are small Mom & Pop businesses, or whether those are true start-ups that hope to grow into the next Google, Facebook, Groupon, LinkedIn, Twitter or other business.
How a CPA Firm Can Help Your Start-Up
A CPA firm can help your start-up at every step of the way. Here are some examples. First and foremost, a CPA firm can help you with the in’s and out’s of business organization. Most businesses that intend to grow big will be organized as “C Corporations” and probably incorporated in a state such as Delaware or Nevada that is business-friendly. A CPA Firm and a professional CPA can help review not just the big picture of a “C Corporation” but all the t’s that need to be crossed and i’s that need to be dotted in terms of business organization. Second, there are tax implications down the road. Many start-ups compensate their employees with stock options, and stock options can create all sorts of perverse tax problems down the road. A trained CPA firm that understands business here in the San Francisco Bay Area can advise on how best to deal with employee stock options. Finally, bookkeeping, accounting, and tax compliance are all the not-so-fun issues that start-ups need to do right, at the beginning, rather than wrong, at the end.
Identifying a trusted CPA Firm that knows start-ups is an important first step towards the success of your start-up.
- If you are considering a start-up, give Safe Harbor CPAs a call at (415) 742-4249 or email – we are happy to provide a free quick phone consult, or an initial evaluation of your start-up for a very reasonable fee.
Start-ups, whether in the San Francisco Bay Area, or elsewhere – need to start up properly. A professional CPA Firm advising you is a big part of being successful from the start, up.