The Accounting Blog

News/Events

General FAQ

Archive

Accelero Sponsored Events

Accelero proudly sponsoring CTC event in bay area

Careers

voyona
Voyona began its relationship with Accelero team at the inception of our Company in 2007. Neetika and her staff set up our entire company's accounting structure from scratch. They proved to be knowledgeable, responsible and dedicated insuring all our needs were met. Since then, Accelero has been a true partner for our company. They handle our day to day accounting needs, monthly financial statements and yearly tax returns. They help make sense of what can be a very difficult but necessary part of business, especially for an entrepreneur business owner. I would highly recommend their services to any company."
Jaya Prakash Rao, President/ CEO Voyona, Inc. Sunnyvale CA

Senseiq
We have been using Accelero and have been very satisfied with services as they full seem to understand our needs and provide very professional approach. The team provides highly integrated effort and is always willing to answer the questions we might have even after the engagement is over. Neetika is very attentive and diligent to details and is always quick in following up.
Jatin Maniar, CEO Sense IQ, Inc. San Jose CA

Stratosphere Solutions Inc.
Accelero has provided Stratosphere Solutions with thorough and timely financial service. We highly recommend them for their expertise and willingness to work with us on all our accounting needs. I am very pleased with the level of commitment and results that we"ve experienced."
Jim Bordelon, President, Stratosphere Solutions Sunnyvale CA

Cramster Inc.
"Neetika is very personable. She takes those extra steps to ensure everyone is on the same page making an engagement smooth and cost-effective."
Robert Angarita, CEO, Pasadena CA

Solix Technologies Inc.
We worked with Accelro for our Finance audit. Neetika's thorough knowledge in Finance Accounting, governance and compliance and her attention to details helped us keep the project on schedule and have guided us on various crucial and technical accounting areas.
Sai Gundavelli, CEO, Santa Clara CA

Urpan Technologies Inc
Neetika and her team have been our accountants since 2007 and we are very glad with their services. Their ability to deal professionally and pleasantly with our vendors, customers and other business associates have provided us with a peace of mind and has also strengthened our relationship. The team is very responsive, always approachable and is eager to help us with any matter related to accounting and finance. I am impressed with their commitment and enthusiastic approach. As a CEO, I can now get lot of time to focus on business development as Accelero has taken complete ownership of our accounting division and are running it seamlessly.
Pad N Swami, CEO, Urpan Technologies, Inc. Sunnyvale CA
Neetika has a professional and dedicated team that delivers consistently under tough deadlines.
Mihir Chowdhary, Greenboox Inc. Cupertino CA

PwrLite Inc.
Neetika has handled our accounts including books and payroll from the first transaction and first employee and has done a great job from the start. She made it transparent to us as far as keeping the books in order was concerned. She was quite flexible in adapting to the random and bursty nature of transactions in a startup company. She also was extremely compliant with asynchronous requests for financials and payroll processing. She and her team exhibited professionalism in maintaining the confidentiality of information about her clients.
Overall, will strongly recommend doing business with her and keeping her as 'the accountant concern' for small and medium sized startup companies.
Sridhar Subramanian
President & CEO, PwrLite, Inc (acquired by a Tier-1 company)

Matisse Technologies
Neetika has great dedication and attention to customer service evidenced by her graciously re-arranging her schedule to come to take over a critical role at our company when our regular employee was on maternity leave. Thanks to Neetika we were able to keep up the service we provide to our internal customers as well and complete several projects including an audit which we would not have been able to do without her help.
Jerry Lovatt, VP Finance, Matisse Networks, Inc. Mt. View , California

News/Events for December 2009

January 2010

Welcome to Accelero Corporation
Accelero proudly specializes into start ups accounting, finance, management strategic decision making and taxation areas. Our services range from basic bookeeping to complex decision making such as international transfer pricing, revenue recognition, IFRS compliances and more. We also offer three different levels of packaged services for start ups - Early stage, Expansion stage and Exit stage. Our customers are from various industries such as software, semiconductor, bio tech, finance and other areas with whom we have been partnering successfully. For more details about our company , visit www.accelero-corp.com. Read below for some of the accounting and tax guidelines for 2009.
Sec 179 Benefit for 2009: The year 2009 had been a little sluggish for most of our businesses. There seems to be a positive ray of hope for 2010 as per the National Association of Business Economists who predicted that "the real GDP for 2010 would be 2.9% in US and this growth should also be enough to recover losses from the recession and return output to an all-time high by the end of 2010"- Reuters. IRS has come up with increased SEC 179 deduction to promote capital investment among business. It is a one time opportunity for business to claim a deduction of upto $250,000 for 2009 for any investment made on equipment including software that are actively used in the business. For example, if one buys machinery for $100,000 for 2009, one can expense the entire $100,000 for 2009 tax return. Bonus depreciation which expires in 2009 also allows claiming depreciation on the assets over $250K. We find that this increased deduction is expected to vanish in 2010.	Be An Entrepreneur, Not an Accountant! Call us to know more about our Venture Backed Company Services! Special services for Non Profits and Earth friendly ventures!! We are committed to donate hours every month towards a non profit cause. Check out to see if your mission qualifies!

Business Loss disallowed as Hobby Loss: Hobby is any activity that you undertake without expecting any taxable profit. Any losses from hobby can be allowed as misc. deduction only to the extent of profit earned from the hobby and limited to 2% of your AGI (Adjusted Gross Income). There are more recent cases that business losses of newly formed company are disallowed by IRS claiming that it is actually a hobby and not a business. The rule of thumb to distinguish hobby from business is that, the activity is presumed to be for profit if it earns profit for 3 out of past 5 years of business. However, IRS can still deny the business loss deduction in spite of satisfying the 3 out of 5 year test. So the burden of proof lies on the businessmen. Plan your business in advance to avoid such situations.

California 2009 Tax Rules for Loss, Credit and Advance Tax payments California Governor Schwarzenegger has brought about some major state tax rules for 2009. These rules affect all types of business whose business income is $500,000 or more. » Bad News - NOLs of 2008 and prior years are not allowed to be carryover for 2009 tax return. » Good News - NOLs for taxable years after 2007 can be carried over for 20 years rather than 10 years. There are many more restrictions on credits, advance payments, penalties etc.

Watch for Alternative Minimum Tax (AMT) AMT was started in 1969 as a way or preventing wealthy people from completely evading their federal tax. In 2001, 1% of the taxpayers were vulnerable to alternative minimum tax. It is expected that by 2016 nearly 50% of the taxpayers will become vulnerable to AMT. So it is very important to be alert to AMT and compute your tax liability under AMT method. If any of the following items forms a major portion of your tax return, then you might be vulnerable to alternative minimum tax. This list is not exhaustive and we have mentioned only the prominent items. » Personal exemptions claimed for yourself, spouse and dependent. » Standard deduction. » Interest on second mortgages on home. » Certain Itemized deductions like unreimbursed employee expense, tax preparation fees and investment expenses. » Large capital gains claimed for the year. » Exercised incentive stock options for the year.