WARF Entrepreneurons | Panel Discussion | Startup Accounting and Taxes | 2.5.14

Danny Andersen, director and CPA, Baker Tilly
Mark Zager, CEO, Silatronix Inc
Stacie Laplante, assistant professor – accounting & information systems, UW–Madison School of Business

Michael Williams, faculty associate – management & human resources, UW–Madison School of Business

1:24 | Introductions
5:55 | Why aren’t accounting and finance important to a founder, especially if they have no experience in it?
7:45 | What is meant by the phrase taxable event?
8:16 | What should someone look for when hiring a bookkeeper or accountant?
9:07 | Is there a resource that simplifies tax returns for early stage companies and where is the tipping point to go and hire outside help?
14:36 | For bootstrapping startups, are there other ways than cash to attract accountants?
16:25 | What resources are available on how to decide whether to buy a contracting business?
18:09 | What difficulties and complexities revolve around giving employees stock incentives/options?
22:57 | How do you decide when it is R&D tax credit applicable, how does it differ from other tax incentives and what state programs exist for encouraging R&D?
25:58 | If you are located in Wisconsin, selling a product online to a customer outside of Wisconsin, do you have to pay sales tax in Wisconsin?
28:45 | What are the best bookkeeping services for different industries and applications?
30:36 | What type of financial information will a startup need to provide when seeking capital from a bank or investor?
31:58 | How are grants treated in the financial and accounting world?
34:22 | At what point do you have an audit done and how does it come across to your in-house CPA, i.e,, not as a lack of trust?
37:00 | What is your opinion on Bitcoin regarding taxation?
38:06 | When do owners have to be worried about creative accounting?
39:41 | What is the value of a patent on a financial statement and how do you determine it?
41:28 | What are good methods to know your cash on hand at all times?
45:42 | How do you treat stock options and equity positions on the books when employees who want to leave or sell their vested stock?
48:06 | How do you count money that is payed by customers in advance of the service being performed?

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