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
March 2010
Issue: 1
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.
- R&D Credit - Election must be made on original Timely returns
A taxpayer can have both credit and the deduction only if the 280c election is made on the original timely return.
The R&D credit requires that taxpayers satisfy four requirements, or tests, to qualify. First, develop a new or improved business component (e.g. software). Second, work must be technological in nature. Third, there must be uncertainty. And, finally, you must engage in a
process of experimentation for a permitted purpose.
-5 Year Carryback of Net Operating Loss
The new provision enables small businesses with a net operating loss in 2008 or 2009 to elect to offset this loss against income earned in up to five prior years. Typically, an NOL can be carried back for only two years. With the economic downturn and the new law, the IRS expects record numbers of small businesses to be eligible for the refunds. Small businesses with large losses may be able to benefit fully from those losses now, rather than waiting until claiming them on future tax returns
March 15, 2010 - Corporate Tax Returns for FYE Dec 31 or request for 6 month extension
Deadline for corporate tax returns (Forms 1120, 1120A, and 1120S), or to request automatic 6-month extension of time to file (Form 7004).
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!
Other Recovery Act Credits/Benefits-
1. Work Pay Credit
Government provides a work pay credit to extent of $400 (single filers) and $800(filing jointly). This credit appears as reduced withholding of federal tax if you are a salaried employee. If you are a self employed person, then you can adjust the credit in your income tax form for 2009.
2. Sales tax deduction for new car buyers
Any purchase of a qualified new car, light vehicle, recreational vehicle or motorcycle made after February 16, 2009 till end of the year, can claim a deduction for the state, local, sales and excise taxes paid on up to $49,500 of the purchase price. Special tax break for new car purchases in States with no Sales Tax.
3. First time Home Buyers credit
First time home buyers can claim credit up to $8,000 for home bought during January 1, 2009 to May 1, 2010 if it is used for primary residence. If the buyers sellers the home within 3 years of the purchase the credit amount has to be paid back to the IRS.
4. Hope Scholarship Tax credit
It is made partially refundable -- meaning that a tax filer could get money back even if it meant he or she would be getting back more from Uncle Sam than paid in federal income tax. The credit is worth up to $2,500 for higher education expenses, up from $1,800 previously.
IRS guidelines of standard mileage rate (SMR)
The standard mileage rate (SMR) is kind of depreciation method. The SMR basically computes the fixed and variable operating cost of using the vehicle for business by multiplying the number of business miles traveled during the year by the standard business mileage rate given by the IRS. For 2009, this standard business mileage rate is 55 cents per mile and for 2010 it is 50 cents per mile. If you have used any other depreciation method for your vehicle then you are not allowed to use SMR method. This method is not available for vehicle used for hire or for more than four vehicles used simultaneously.
For assistance on any of
the above requirements, please contact us.
The Accounting Blog
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