Internet and technology companies normally start out with an idea, which may be a solution to a problem in the form of a new product or a service. Once that new product or service takes off, there’s a business to run that hopefully results in profitability, stability for both employees and the owners, and growth.
The technology industry can be one of the most lucrative, but it can also be one of the most competitive. The quickly changing landscape means tech businesses must stay nimble and focused on meeting new consumer demands as advances are made by competitors.
At the same time, financial and tax decisions must be made to ensure the business builds value. Working with a CPA who understands your priorities (and sometimes time constraints) and has a strong knowledge of current tax laws is imperative. You need a trusted advisor to guide you through the maze of financial decisions, take advantage of all eligible tax credits, and minimize taxes. In addition, state taxes are becoming more complex and the nexus rules more inclusive which means that many internet and technology companies have tax liabilities and filing requirements in numerous states.
Bucknam & Conley CPAs works with software and hardware companies, application developers, website developers, and entrepreneurs that operate and sell in various states. Our expertise in the key challenges faced by tech companies has helped many clients flourish.