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HPC Blog

5 Signs Your Technology Startup Needs a Virtual CFO

By Blake Oliver • February 9, 2016 at 8:00 AM • Virtual CFO, startups

As the founder or cofounder of the next big tech startup, you’re feeling a lot of things right now: Exhaustion (no amount of Red Bull can make up for the countless nights of little or no sleep), Elation (your company name is epic, the domain name was actually available, and your business cards are fresh), and Confusion (budget allocation, gross margins, and capital expenditures, say what?!).

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Reminder: Los Angeles Business Tax is due February 29, 2016

By Blake Oliver • January 25, 2016 at 9:00 AM • Tax, City of Los Angeles Business Tax, Los Angeles

The deadline to file City of Los Angeles Business Tax is February 29, 2016. Please note that even if you don’t owe any tax thanks to an exemption, you still must register or submit your renewal in order to qualify for one. Failure to do so could result in the loss of your exempt status and/or significant interest and penalties.

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Proud to be 3 of Hubdoc's Top 50 Cloud Accountants of 2015

By Blake Oliver • January 20, 2016 at 9:47 AM • Meet HPC

I’m pleased to report that three HPC team members have been selected by accounting software provider Hubdoc to be part of their list Top 50 Cloud Accountants of 2015 (North America).

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IRS upgrades tangible property expensing threshold to $2,500

By Laura Ring • January 18, 2016 at 6:00 AM • Tax

Late last year, the IRS raised the safe harbor threshold for deducting capital items for most businesses from $500 to $2,500.

Starting with tax year 2016, for tax purposes businesses can now immediately expense purchases of equipment such as tablets, smartphones, and computers, as long as each item is backed up by an invoice and costs less than $2,500.

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Introducing Kim Crouch, Virtual CFO

By Blake Oliver • January 14, 2016 at 4:32 PM • Meet HPC

We’re pleased to welcome Kim Crouch to the HPC team!

As a Virtual CFO, Kim works to create value for clients by using technology to apply the simplest solutions available that provide effective results. Kim is passionate about empowering small business owners to leverage their time. She has a great understanding of the whole financial picture, including accounting, tax, cash flow, and capital structure.

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Video: The Future of Remote Accounting Work

By Bruce Phillips • January 12, 2016 at 9:00 AM • The Future of Accounting

Recently I had the privilege of joining Jeff Phillips, founder of the recruiting site Accountingfly, for a webinar entitled "Is a remote accounting job right for you?". Here's the recording from that webinar. Enjoy!

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IRS updates standard mileage rate for 2016

By Blake Oliver • January 11, 2016 at 4:36 PM • IRS, Expensify, mileage

The IRS has changed the standard mileage rate for 2016. If you're reimbursing employees or owners based on the official standard mileage rate, you'll want to make sure to update the rate in your expense reporting software. This includes Expensify users.

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Highlights from the Protecting Americans from Tax Hikes (PATH) Act

By Laura Ring • December 28, 2015 at 8:00 AM • Tax

The Protecting Americans from Tax Hikes (PATH) Act of 2015 makes permanent key provisions to help growing companies. Here are the highlights:

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Section 179 deduction permanently raised to $500,000

By Laura Ring • December 23, 2015 at 11:11 AM • Tax

We're happy to share some good news this holiday season: As part of the Protecting Americans from Tax Hikes (PATH) Act, signed into law on December 18, the United States Congress increased the Section 179 deduction limit to $500,000 for 2015—and made it permanent!

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How poor cash flow kills profitable businesses (and how to prevent it)

By Jennifer Huang • December 21, 2015 at 8:00 AM • cash flow, Virtual CFO

Profitable businesses don’t fail, right?

Wrong!

There are many reasons why even profitable enterprises don’t survive. One of the top reasons—shown by years of studies—is that they simply run out of money. They can’t pay the bills on time or make payroll, so they go out of business.

How is this possible?

Typically, running out of cash is the result of either:

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