camz

It requires you fit into one of their accepted categories and about 8-10 months normally. If you expedite it, it may take as little as 2-4 months.

I was able to get mine done in about 3ish months.

I wouldn't try to separate bookkeeping from accounting too much. As a cpa, the lines are blurred too often because we're usually making decisions and adjustments along the way.

But, a little information can definitely be dangerous. It can be a huge time sink to "restate" the books to suit someone's vision and at worst it allows people to misrepresent the information.

I always appreciate new ways to make accounting easier. A lot of accounting should be automated because most of it is ministerial.

But, I do thinking that financials are something that each person should learn a bit more about. I find it too common that people aren't spending enough time to understand what their financials are trying to tell them. For example, they're generate awesome revenues, but failing to convert it into cash fast enough to meet their debts (statement of cash flows).

Always a fan of everyone gaining financial literacy =).

I agree with essentially everything Tom suggests. I think that trademarks (TM) is something a lot of people forget to use, registered (R) trademarks is something I generally tell people to avoid because its often not going to help unless you have a significant amount of intangible monetary value. It does offer some protection like Tom suggests, but clearly it's not full proof. Still its better than nothing.

I would've cut down on communicating with the person. He's obviously illiterate and his income is fueled by fraud. In my experience, you give them a single friendly but frank email with 24 hours to respond and then you just have to go through the proper channels. In this case removing his domain.

I'd like to believe the good in people. But, this individual's conduct from the outset demonstrates bad faith.

I practice tax law and write for forbes on tax law.. this area of law may seem confusing, but that is mostly for the media buzz. The law has generally been fairly clear.

Many states have long had laws that taxed "pre-written or canned software." MA is just one of the newer states that have enacted this law. New York has had the law in the books for years.

Pre-written software means that you've previously created software and you've literally re-used the code.

Professional, custom or designed software is still exempt as a "professional service."

What happens when you're like SAP and you start with canned software, but then customize it? Then, you pay sales tax on the canned portion and then you don't pay tax on the customization costs.

In sales tax audits, they test this by comparing code sold off the shelf to the code presented as "custom." Generally, consultants are used.

There are also sales tax on "informational reports." This started as paying sales tax for "stock tips" sent over the fax. But, today this has extended to informational reports that were created by software. Thus, a lot of businesses that "don't sell canned software" and provide a "service" cannot escape the tax law by simply providing the end product alone.

I can understand people getting angry, but the law has been around for a while... I've gone through multiple audits with companies such as reuters, bloomberg and etc. I don't particularly feel that its unfair, since if you provide a "custom service" then you're exempt.

Obviously, there are always going to be ways to "technically" get away with avoiding sales tax, but that doesn't mean that they're inherently unfair. Companies avoided paying sales tax on software for a while, until the states realized that they were being cheated by these businesses. Then, businesses decided that if we don't sell the software on "CDs" then its not tangible property and "legally not taxable." So, they would bring the CDs and install the software and then leave with the CD's to effectively avoid the sales tax.

Then, they started to allow the software to be hosted online and only provide the "end-product aka SaaS." Services are commonly exempt and hard to follow, thus they escaped the states radar for years. Its a cat and mouse game that will continue.

I think the best example is if an attorney or accountant were to provide the same exact tax return or memo to everyone, then it'd be taxable under sales tax law. But, because we provide a different memo or tax return to everyone (maybe using a system like turbotax or something), it is a custom product because the service is only applicable to that person. If the developer provides a copy of turbo tax, then its taxable because its always the same. But, if the developer uses RoR, Python or some other system to "create" the end product for the individual, then its not taxable. Hopefully, this crude example is decent enough to get the point across.

off topic, but you could use autotax.me to help deal with the freelancer tax stuff like W9s, security and 1099s (free) without having to fill out the same tax docs a million times.

I was informed that the photo was a serb soldier that made a hand sign that was politically inappropriate in front of a sign that said Sarajevo.

I initially meant it as just a photo of a guy in Sarajevo waving hello. So, I was ignorant of the sensitive nature behind the photo.

When I was informed of the issue, I took it down immediately out of respect and write the explanation.

That would be my fault. I meant to say that Patio11 suggested that Emil should talk to his customers. Emil was more focused on building the product than communicating with his potential customers, which was why he faltered in Picopy.

Unfortunately, that's something that is automatically done through the platform. I'm not used to it yet and I'm still trying to figure out how to turn it off.

I can wholeheartedly agree to this, I probably should've done a better job communicating that. I meant it more as a pointed commentary at the older investors.

(Note, I will totally admit that it was written to gain attention)

The fact the author expresses his personal opinion shouldn't be an issue for a reader because they avail themselves to his thoughts by reading the article. He's allowed to write what he wants and more importantly believes. Either constructively rebut the issue or ignore it.

I'd say that people who need mail merge know what it is. It was made most famous by Microsoft Office (at least thats where i heard it first). But, it'd be a good idea to have a simple description thats a natural search term.

you generally avoid incorporating in states that you don't transact in initially to avoid additional tax compliance and costs that are significant. But, its a case by case situation that depends on business reasons and personal preferences usually.

Legal entities are like "clothes" that need to be changed as a company grows and changes. Nothing ever stays the same forever, so theres a lot to think over.

I find TED mostly marketing these days and less substance. I'm a fan of people that TED attempts to bring together, but I have no love for the organization.

The article fails to explain in what use case does excel fail. It problem when people make sweeping generalizations blaming a product. Especially one like excel that works.

From what it looks like they're trying to provide "sales reports." It one thing to say that they can simplify and save time generating these reports.

Its any other thing entirely to blame excel. Human error is prevalent on every level, so unless you can completely remove human interaction from the process or do it for them, then you're still open to the same risks.

Stripe ( http://stripe.com )- Payment processing

Sendgrid ( http://sendgrid.com )- Sending emails

Autotax ( http://autotax.me )- Automated 1099 & sales tax filing

Trello ( http://trello.com ) - Trask tracking

New Relic ( http://newrelic.com ) - Server/app monitoring

the best advice i can give you after answering so many tax questions in HN is to ask a professional... especially after reading this =)

The first thing I noticed was that Allmand Law who commissioned the infographic is a firm that specializes in bankruptcy and collections... LOL

It's an interesting/hilarious (yet ironically fitting) marketing strategy. Failed startups make great clients for bankruptcy law firms. Most end up swimming in debt.

A great cheeky project to make fun of all of the Social mumbo jumbo by StartupBus alums. =)

i just bought 3 for me whole family lol for $49 dollars each. i was provided $69, $99, $199 and $299 multiple times before they gave me $49 dollars.

I agree with what you're saying, but no need for so much anger =). (Yes, it is BS though haha)

Let me know if you want help with anything related to the finance and tax calculations. One thing I'd mention is that these calculators are fairly common, but the problem is that most people dont understand them. Putting them into context would probably much more useful. I'm a CPA, JD by trade so I have a good amount of experience in this.

I've done it before takes a lot of time and effort. It's easier to just get someone from overseas to do it by hour.

i thought the way they handled the shutdown was pretty great. they were thorough about informing everything they could, even in the appstore.

No. Most of it is smoke and mirrors. It'd hard to get funding anywhere. It's just easier to find the vcs but that doesn't mean it's any easier to get funded. I'd suggest going solo without funding. I sink my own cash into my company so I can control it without having to report in weekly to someone that doesn't know my business

I've written an ebook about the due diligence process and I could write a post that explains it if enough ppl are interested

Then you wouldn't be required to withhold income tax for them because it isn't done in the united states and isnt effectively connected with the united states.

The 1042 and 1042s are withholding forms, but you'd still be required to file them. For informational purposes.

Phil Hodgens made an important and valid point to me that, I should've explained that the withholding only applies to "Effectively Connected Income" or ECI. This is mean that services performed within the united states or earned in the united states.

Thus, if the services are performed outside the country, then they wouldnt be required to withhold taxes. But, you'd still have to file the 1042 informational returns.

Yes, the withholding rules are much more strict for foreign contractors. Share options are very complicated because there's a variety of moving factors. I wouldn't be able to say very much unless I knew more.

Its true, if you're using oDesk you dont need to handle the taxes. Because its their responsibility.

I thought he was asking if oDesk properly handles taking care of the 1042s on their side.