By: Gust, a Clarus R+D Partner

10 Early Mistakes Startup Founders Should Avoid

Partners | March 7, 2022 | 1 min read

Startup founders are faced with the difficult task of having to make critical business decisions on a daily basis. Working with thousands of companies and founders over the years, our partners at Gust have witnessed many situations in which having better information from the start could have prevented poor decision-making and painful lessons. The Gust team shares their list of early mistakes that founders should be aware of so they can avoid them and have a better chance of future success.

Mistakes to avoid

  1. Forgetting to file an § 83(b) election
  2. Not paying taxes
  3. Issuing too many authorized common shares to the founding team
  4. Granting fully vested stock to a cofounder
  5. Not complying with securities laws
  6. Leaving due diligence prep until the last minute
  7. Investing too little or too much money in your own company
  8. Seeking investment before the company is ready
  9. Lying
  10. Being a jerk

Read full article by Gust

Share

ABOUT CLARUS R+DWith custom software backed by a team of tax experts, Clarus R+D specializes in tax credits for growth businesses. Our technology-driven solution simplifies the process, maximizes benefit, and ensures compliance. We partner with accounting firms, financial advisors, investors, payroll providers, and more.

Back to News

By: Brooklyn FI, a Clarus R+D Partner

Business Owner Basics

Partners | December 6, 2021 | 1 min read
Business Owner Basics

Entrepreneurship is not for everyone. Some folks think they will love it and after a year realize they miss the structure, security, and paid time off that often comes with working for someone else. Our partner, Brooklyn FI, lays out a brief overview of what it takes to start a business and the things you should be thinking about at each stage of revenue.

What really matters

  • Keep personal and business expenses separate.
  • Books and records should be overseen by a professional bookkeeper.
  • Save 40% of every dollar you receive to prepare for filing your tax return.
  • Use a SEP-IRA or Solo 401(k) to defer taxes.
  • Choose an entity type that fits your business needs.
  • And more…

Read full article by Brooklyn FI

Share

ABOUT CLARUS R+DWith custom software backed by a team of tax experts, Clarus R+D specializes in tax credits for growth businesses. Our technology-driven solution simplifies the process, maximizes benefit, and ensures compliance. We partner with accounting firms, financial advisors, investors, payroll providers, and more.

Back to News

By: Furey, a Clarus R+D Partner

What Is Revenue Reconciliation and Why It Matters For Startups

Partners | September 16, 2021 | 1 min read

Revenue recognition and revenue reconciliation are crucial parts of a successful month-end close. Often, startups only focus on recording and recognizing transactions, but that’s only the first step. In this article, Furey covers the basics of revenue reconciliation—what it is, how to approach it, and why it’s important for your business. You’ll learn:

  1. The difference between revenue recognition and revenue reconciliation
  2. Why is revenue reconciliation important?
  3. How to approach revenue reconciliation
  4. Common mistakes when reconciling revenue
  5. Preparing your startup for revenue reconciliation

Read full article by Furey

Share

ABOUT CLARUS R+DWith custom software backed by a team of tax experts, Clarus R+D specializes in tax credits for growth businesses. Our technology-driven solution simplifies the process, maximizes benefit, and ensures compliance. We partner with accounting firms, financial advisors, investors, payroll providers, and more.

Back to News

By: Book+Street, a Clarus R+D Partner

What Financials You Need to Keep Your Business Going and Growing

Partners | June 1, 2021 | 1 min read

If you’re not a financial wizard (but you are a business owner), it can be daunting to assess all of your financial statements, keep them up-to-date, and truly understand them. Book+Street looked at the three most important financial tools they use and how they can help you build and maintain a financially healthy business.

  1. Cash flow forecast
  2. Profit and loss statement
  3. Balance statement

Read full article by Book+Street

Share

ABOUT CLARUS R+DWith custom software backed by a team of tax experts, Clarus R+D specializes in tax credits for growth businesses. Our technology-driven solution simplifies the process, maximizes benefit, and ensures compliance. We partner with accounting firms, financial advisors, investors, payroll providers, and more.

Back to News

By: Suitless, a Clarus R+D Partner

8 Things Successful Business Leaders Do on a Daily Basis

Partners | March 8, 2021 | 1 min read

Too often, business leaders get stuck in the weeds when it comes to daily administrative tasks. Things like expense management, benefits admin, and payroll questions are time consuming. Suitless looked at hundreds of successful business leaders and how they focus their energies. This is a pretty darned good list of things they all adopt. And it does not include back-office work.

  1. Build culture
  2. Impart strategy
  3. Integrate effective metrics
  4. Engage stakeholders
  5. Think about optics
  6. Handpick for management and leadership
  7. Keep friends and family near
  8. Take care of yourself

Share

ABOUT CLARUS R+DWith custom software backed by a team of tax experts, Clarus R+D specializes in tax credits for growth businesses. Our technology-driven solution simplifies the process, maximizes benefit, and ensures compliance. We partner with accounting firms, financial advisors, investors, payroll providers, and more.

Back to News

By: Gusto, a Clarus R+D Partner

How to Get Your Employees Ready for End of Year

Partners | October 13, 2020 | 1 min read

The end of the year is an important time for your business. Whether it’s corporate tax filings or company parties, there are a multitude of things to get right before saying goodbye to 2020.

That’s why Gusto put together this checklist to help you get your business—and your employees—ready for next year.

  1. Verify employee data
  2. Verify employee benefit information
  3. Verify contractor information
  4. End-of-year extras

Read full article by Gusto

Share

ABOUT CLARUS R+DWith custom software backed by a team of tax experts, Clarus R+D specializes in tax credits for growth businesses. Our technology-driven solution simplifies the process, maximizes benefit, and ensures compliance. We partner with accounting firms, financial advisors, investors, payroll providers, and more.

Back to News

By: OhioX, a Clarus R+D Partner

OhioX Member Profile: Clarus R+D

Partners | September 29, 2020 | 1 min read

This week for Member Monday, OhioX features Clarus R+D for our innovation in claiming the R&D tax credit. Our solution simplifies your study, ensures compliance, and reduces overall cost.

 

We’re proud to be a member of OhioX, who is focused on promoting Ohio as a leader in technology and innovation while connecting a diverse group of companies growing Ohio’s economy. OhioX connects those committed to growing Ohio’s economy through technology and innovation.

Read full interview

Share

ABOUT CLARUS R+DWith custom software backed by a team of tax experts, Clarus R+D specializes in tax credits for growth businesses. Our technology-driven solution simplifies the process, maximizes benefit, and ensures compliance. We partner with accounting firms, financial advisors, investors, payroll providers, and more.

Back to News

By: OhioX, a Clarus R+D Partner

OhioX Leader Profile: Jeff Haskett

Partners | September 10, 2020 | 1 min read

This week, President of Clarus R+D Jeff Haskett reflects on the critical importance of businesses understanding how to find R+D tax credits, how it can fuel innovation, and simplifying technology.

OhioX connects those committed to growing Ohio’s economy through technology and innovation. The Leader Profile speaks with Ohioans who are making a difference in their community and helping build the future.

Read full interview

Share

ABOUT CLARUS R+DWith custom software backed by a team of tax experts, Clarus R+D specializes in tax credits for growth businesses. Our technology-driven solution simplifies the process, maximizes benefit, and ensures compliance. We partner with accounting firms, financial advisors, investors, payroll providers, and more.

Back to News

By: Acuity, a Clarus R+D Partner

The 7 Most Common Mistakes Small Business Owners Make

Partners | August 28, 2020 | 1 min read
Business owners at meeting

You’re creative, self-sufficient, and driven. That’s why you became an entrepreneur — you knew exactly what you wanted and went out to build it. But here’s something you may not know: Startup companies often make very small mistakes that end up costing them big.

While all businesses are different, most of the reasons that startups fail are exactly the same. From lack of planning to poorly managed finances, Acuity has gathered the top mistakes small business owners make so that you can avoid the stereotypical pitfalls.

  1. You’re setting unrealistic goals.
  2. You don’t have a marketing plan.
  3. You take too long to resolve problems.
  4. You’re careless with the budget.
  5. You forget to highlight your strengths.
  6. You got mixed up with the wrong investors.
  7. You’re not valuing customer feedback.

Read full article by Acuity

Share

ABOUT CLARUS R+DWith custom software backed by a team of tax experts, Clarus R+D specializes in tax credits for growth businesses. Our technology-driven solution simplifies the process, maximizes benefit, and ensures compliance. We partner with accounting firms, financial advisors, investors, payroll providers, and more.

Back to News

By: Gusto, a Clarus R+D Partner

How You Pay Yourself When You’re the Boss

Partners | May 20, 2020 | 1 min read

There were probably two things that motivated you to step out and start your own business: doing what you love and make money doing it. You’re reading this because you’re already doing the first part. But what about the second part?

Find out how to pay yourself and more.

  • Determine Your Business Type
  • Figure Out the Best Payment Method
  • Select an Amount
  • Pick a Payroll Schedule
  • Get Your Paycheck

Share

ABOUT CLARUS R+DWith custom software backed by a team of tax experts, Clarus R+D specializes in tax credits for growth businesses. Our technology-driven solution simplifies the process, maximizes benefit, and ensures compliance. We partner with accounting firms, financial advisors, investors, payroll providers, and more.

Back to News