For your convenience, the IRS provides an online database for all Authorized IRS e-file Providers that choose to be included in the database. You can locate the closest Authorized IRS e-file Providers in your area where you can electronically file your tax return. For more information on finding a tax return preparer who provides IRS e-file, see Authorized IRS e-file Providers for Individuals on IRS.gov, or go to IRS.gov/uac/Authorized-IRS-e-file-Providers-for-Individuals. The inclusion in this database does not constitute any endorsement by the IRS of the e-file Providers listed in this database or any of the products or services that they provide. You should always be sure to conduct your own due diligence when selecting an e-file Provider. In addition to the Authorized IRS e-file Provider locator tool above, you can also find professional help through the IRS Tax Professional Partner page at IRS.gov/Tax-Professionals/IRSTaxProAssociationPartners.
You can usually deduct the cost of furnishing meals and lodging to your employees. Deduct the cost in whatever category the expense falls. For example, if you operate a restaurant, deduct the cost of the meals you furnish to employees as part of the cost of goods sold. If you operate a nursing home, motel, or rental property, deduct the cost of furnishing lodging to an employee as expenses for utilities, linen service, salaries, depreciation, etc.

And the rest of the conversation explained why they would not be doing that. My stomach dropped. I knew they were our best shot of getting the money, and some of the angels who had previously invested were interested in coming in but only if I could get a VC to lead it, probably for some oversight. We now had very little cash left, and very little time to find someone else.

You can file a revised statement to include any start-up costs not included in your original statement. However, you cannot include on the revised statement any cost you previously treated on your return as a cost other than a start-up cost. You can file the revised statement with a return filed after the return on which you elected to amortize your start-up costs.


This term generally refers to a young enterprise that is three years old or younger. During this phase, a company is still in its novel stages of development. They could be in the process of experimenting with new products or services that they intend to market in the near future and/or may have viable products that are already available to the public.4
The experience shattered my persona as a smart, successful entrepreneur and exposed me as a failure. Like a traditional Near Death Experience (NDE), this journey reordered my priorities and changed me as a person. Without it, I wouldn't have quit drinking and taken up authenticity as my guiding star. Learning how to be me without armor and jazz hands has been a challenge but ultimately worth it - allowing me to be more successful in business and life.
We’ve spent the past six years working hard to build a product that is engaging for users, reduces symptoms, and has a sustainable business model. After some trial and error in the direct to consumer and employer spaces, we ultimately pursued a strategy of alignment with traditional healthcare insurance companies. Healthcare moves very slowly and we made the mistake of misjudging the time it would take to achieve sustainable revenue through this approach.
Your existing customers are also an easy path to finding new customers. Unless people are searching Google for your exact solution, you will want to come up with every creative way that enables your customers to tell their friends. You can even borrow a page out of the e-commerce playbook and offer your customer money and/or credit for selling product to people they know. That’s what Scott Wilson did with the Lunatik Rewards App.
To everyone out there sitting on the sidelines, debating over whether or not to jump in the pool — just go ahead and do it. You'll be forced to fight harder than you've ever fought before and you'll learn you can handle a lot more stress than you thought you could. Maybe it won't work out, and maybe you'll cry, too, but at least you will have tried.
Start-up costs are amounts paid or incurred for (a) creating an active trade or business, or (b) investigating the creation or acquisition of an active trade or business. Start-up costs include amounts paid or incurred in connection with an existing activity engaged in for profit, and for the production of income in anticipation of the activity becoming an active trade or business.
The Beta version of your product/service is the pre-release version you give your target audience to test out the look and feel of your service. This is the testing water for major/minor changes, and the final chance to improve your final product before actually releasing into the market. Beta testing is usually done for services provided typically online.
This technique doesn't always work, because people can be influenced by their environment. In the MIT CS department, there seems to be a tradition of acting like a brusque know-it-all. I'm told it derives ultimately from Marvin Minsky, in the same way the classic airline pilot manner is said to derive from Chuck Yeager. Even genuinely smart people start to act this way there, so you have to make allowances.
To demonstrate worthlessness, you must only show that you have taken reasonable steps to collect the debt but were unable to do so. It isn’t necessary to go to court if you can show that a judgment from the court would be uncollectible. Bankruptcy of your debtor is generally good evidence of the worthlessness of at least a part of an unsecured and unpreferred debt.
Deduct start-up and organizational costs in equal amounts over the applicable amortization period (discussed earlier). You can choose an amortization period for start-up costs that is different from the period you choose for organizational costs, as long as both are not less than the applicable amortization period. Once you choose an amortization period, you cannot change it.
Working with entrepreneurs who are out to change the world is awesome.  I'm lucky to spend my days and nights with movers, shakers, dreamers and visionaries…as Steve Jobs put it, the "Crazy Ones."  I compare this with my first few jobs in valuation and investment banking, which were remunerative but stifling and draining; I truly hated to go to work each morning.  In contrast, the passion and energy founders bring is contagious, and fires me up every day.

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The funding and deal activity pullback in Q4’15 was a reality check for venture, and there is more of a focus on business fundamentals. We rounded up 11 startups deserving of an autopsy from the tail-end of 2015 and the start of 2016. From Rdio to the massive KiOR (that raised $403M in total funding), there were a variety of lessons to be learned: hiring problems, inability to compete, legal issues, and many more.

Your employees must adequately account to you for their travel, meals, and entertainment expenses. They must give you documentary evidence of their travel, mileage, and other employee business expenses. This evidence should include items such as receipts, along with either a statement of expenses, an account book, a day-planner, or similar record in which the employee entered each expense at or near the time the expense was incurred.
The rules for section 197 intangibles do not apply to any amount that is included in determining the cost of property that is not a section 197 intangible. For example, if the cost of computer software is not separately stated from the cost of hardware or other tangible property and you consistently treat it as part of the cost of the hardware or other tangible property, these rules do not apply. Similarly, none of the cost of acquiring real property held for the production of rental income is considered the cost of goodwill, going concern value, or any other section 197 intangible.
1. Analyze the failure. After CB Insights combed through the post-mortem blog posts of more than 200 failed startups, they ultimately reduced the most common causes of startup failure to a relatively short list. Chances are, the root causes of your business’s failure are identifiable and common. Spend some time looking over your business’s history, even if it’s short, and see if you can recognize the main causes of failure, as well as the decisions that led to those causes. The better you understand this, the more likely you’ll be to prevent those outcomes in the future.
The second path (going away) didn’t fit, either. I hadn’t been at it long enough. Dane Atkinson, currently the founder/CEO of SumAll, had been at it long enough when his company SenseNet, Inc. got wiped out. He was 27 and had spent eight years building a team that totaled in the hundreds. He was “burnt toast” when it ended, and immediately started liquidating everything: he sold his bar, his apartment, and his stake in his other companies. He traveled and went scuba diving and learned to fly planes–anything to get away. He says this let him begin a process of mental reform that finally allowed him to accept that his next thing would have to be built slowly again, “inch-by-inch.” He’s gone on to build Squarespace, where he was CEO, and now SumAll, which is 25 people strong.
Having a web app being created at the same time was ridiculous too — especially since we still hadn’t nailed down the favoriting process or tried it with any users. I was blowing cash — at a ridiculous pace. I had 7 guys working on this thing at once, as we were hustling for SXSW launch deadline. We decided to focus on the iPhone app, which sucked for me and Dan the backend programmer, because we both couldn’t even use the app — we both have Droid X phones.
The Right to Confidentiality. Taxpayers have the right to expect that any information they provide to the IRS will not be disclosed unless authorized by the taxpayer or by law. Taxpayers have the right to expect appropriate action will be taken against employees, return preparers, and others who wrongfully use or disclose taxpayer return information.
Ultimately, [its] structure … is based on very large economies of scale … building out any transport service before it can get to that scale is extremely capital intensive … Karhoo, however, didn’t appear to have the reach with consumers to achieve anything like enough scale. [Its shutdown letter states that the] “Karhoo staff around the world in London, New York, Singapore and Tel Aviv have, over the past 18-months [sic], worked tirelessly to make Karhoo a success. Many of them have worked unpaid for the last six weeks in an effort to get the business to a better place. Unfortunately, by the time the new management team took control last week, it was clear that the financial situation was pretty dire, and Karhoo was not able to find a backer.”
I was great at customer support though. Imagine talking to a customer support person who not only knew everything about the product, but would apologize abjectly if there was a bug, and then fix it immediately, while you were on the phone with them. Customers loved us. And we loved them, because when you're growing slow by word of mouth, your first batch of users are the ones who were smart enough to find you by themselves. There is nothing more valuable, in the early stages of a startup, than smart users. If you listen to them, they'll tell you exactly how to make a winning product. And not only will they give you this advice for free, they'll pay you.
The FCC study found that BusRadio, the only commercial broadcaster on school buses, had disguised commercial content as editorial and exposed kids to more commercial content than the four-minutes-per-hour limit it promised parents. . . “What happened was they were unable to get into schools because of parental protests at the local level. Without a really large audience, they were unable to attract significant advertisers.”
Doug Stephens, founder of consultancy Retail Prophet, said the company suffered from having too few managers from the fashion industry and too many from the technology sector. And customer service “wasn’t where it needed to be to give online customers the level of confidence necessary – especially in such a tricky category … It seems a matter of biting off way more than they could chew through a spate of acquisitions. Despite all the appearances of growth, market awareness was still quite low.”
When Tien returned from her trip, she still didn’t have it quite figured out, and the first job she took (at an auto dealership), she did so because frankly, she “needed income.” It was OK for a while. A self-described people person, Tien explains that she “always enjoyed making people happy, talking to them, and turning their situations around,” so she was able to thrive in the customer service role—at first.
The Anthology 2 album, released in 1996, featured a composite remix of "A Day in the Life", including elements from the first two takes, representing the song at its early, pre-orchestral stage,[73] while Anthology 3 included a version of "The End" that concludes by having the last note fade into the final chord of "A Day in the Life" (reversed, then played forwards).[74] The version on the 2006 soundtrack remix album Love has the song starting with Lennon's intro of "sugar plum fairy", with the strings being more prominent during the crescendos.[30] In 2017, a handful of outtakes from the recording sessions, including the first take, were included on the two-disc and six-disc versions of the 50th-anniversary edition of Sgt. Pepper.[73] The six-disc version of that edition also included, on a disc of mono mixes, a previously unreleased early demo mix of the song in its pre-orchestral stage, as of 30 January.[75]
Small teams are great. They move faster, way faster. If you plan to do lots of product iterations, you don’t need to communicate all the changes and get buy-in from everyone. Conversely big teams have lots of chaos every time there’s a bit pivot. Build out the team afterwards to create the complete featureset, but until then, consumer product teams can just be a few engineers/designers and the product leader. That’s <6 people.
A taxpayer that elects to deduct and amortize startup costs may deduct up to $5,000 of startup costs in the year the active conduct of the business begins (Sec. 195(b)(1)(A)). The taxpayer amortizes any startup costs over the deduction limit for 180 months beginning in the month the active conduct of the business to which the costs relate begins (Sec. 195(b)(1)(B)). Because costs that qualify as startup costs will be deductible as ordinary and necessary business expenses when the business becomes active, a taxpayer might want to begin the active conduct of the business before startup costs exceed $5,000. This will help the taxpayer avoid having to amortize costs rather than taking a current deduction.
According to author Ian MacDonald, "A Day in the Life" was strongly informed by Lennon's LSD-inspired revelations, in that the song "concerned 'reality' only to the extent that this had been revealed by LSD to be largely in the eye of the beholder".[8] Having long resisted Lennon and George Harrison's insistence that he join them and Ringo Starr in trying LSD, McCartney took the drug for the first time in late 1966. This experience contributed to the Beatles' willingness to experiment on Sgt. Pepper and to Lennon and McCartney returning to a level of collaboration that had been absent for several years.[9]
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During the weekend, there is a lot going on. Your brain has just been flooded with information, criticism, and advice from the mentors and judges. You’re feeling the momentum and excitement to get started, but this can lead you to go around in circles chasing your own tail. Give yourself a couple of nights to sleep on your idea and absorb all of this feedback.
…we most definitely committed the all-too-common sin of premature scaling. Driven by the desire to hit significant numbers to prove the road for future fundraising and encouraged by our great initial traction in the student market, we embarked on significant work developing paid marketing channels and distribution channels that we could use to demonstrate scalable customer acquisition. This all fell flat due to our lack of product/market fit in the new markets, distracted significantly from product work to fix the fit (double fail) and cost a whole bunch of our runway.
It’s important to remember, however, that credit cards are an expensive way of financing a small business, particularly if you have bad credit. That’s because card issuers determine annual percentage rates based largely on your personal credit scores. And research has shown that small businesses that rely heavily on credit card financing typically fail.

Go to IRS.gov/Forms to view, download, or print all of the forms and publications you may need. You can also download and view popular tax publications and instructions (including the 1040 instructions) on mobile devices such as an eBook at no charge. Or, you can go to IRS.gov/OrderForms to place an order. To order current-year forms, instructions, and publications, and prior-year forms and instructions (limited to 5 years) by phone, call 800-TAX-FORM (800-829-3676) or 800-829-4059 toll free for TTY/TDD. You should receive your order within 10 business days.

There is no set time period for each stage. It is dependent on the nature of the product, how often it is developed to stay competitive, how loyal a following it develops, how aggressive the marketing and sales are, and how competitive the industry is. Given the uncertain nature of the cycle, it become extremely important for organizations to effectively manage this cycle.
LITCs are independent from the IRS and represent individuals whose income is below a certain level and need to resolve tax problems with the IRS such as audits, appeals, and tax collection disputes. Some LITCs can provide information about taxpayer rights and responsibilities in different languages for individuals who speak English as a second language. Services are offered for free or a small fee. To find an LITC near you, visit TaxpayerAdvocate.IRS.gov/LITCmap or see Pub. 4134, Low Income Taxpayer Clinic List.
In this example from a Windows XP server, we set the ORACLE_SID to the name of the database and we log into SQL*Plus using the ?sys as sysdba? login. This gives us the privileges we need to be able to startup the database. Finally, after we enter our password, we issue the startup command to startup the database. Oracle displays its progress as it opens the database, and then returns us to the SQL*Plus prompt once the startup has been completed.
Although we achieved a lot with Tutorspree, we failed to create a scalable business…. Tutorspree didn’t scale because we were single channel dependent and that channel shifted on us radically and suddenly. SEO was baked into our model from the start, and it became increasingly important to the business as we grew and evolved. In our early days, and during Y Combinator, we didn’t have money to spend on acquisition. SEO was free so we focused on it and got good at it.
The way out: Minshew decided on a do-over, watching PYP's rebranding from the sidelines. In September 2011 she launched The Daily Muse (now called The Muse), and PYP's entire staff, plus another co-founder, joined her. The Huffington Post and TechCrunch covered the launch; the site drew more visitors in its first month than PYP had in its best. "The community knew what happened and stood behind us with tweets and shares," Minshew says. "It was painful, but being forced to start over was a unique sort of gift, because having been through a lot together, the team comes out of it with the confidence that nothing is going to stop us."
Webvan was the biggest flop during the dotcom era of startups. At its peak, in 1999, it was valued at $1.2 billion. Two years later they filed for bankruptcy, laid off 2000 employees, and closed up shop. Webvan could potentially be considered a startup ahead of its time, their vision was a home-delivery service for groceries, where customers could order their groceries online, but that’s not where the problem lies. 15 years later it’s still being studied by business schools around the world as a forewarning against excess and ambition. Here’s the cliff notes edition.
In the case of mines, wells, and other natural deposits other than gas, oil, or geothermal property, you may use the percentage rates discussed earlier under Mines and Geothermal Deposits . Any bonus or advanced royalty payments are generally part of the gross income from the property to which the rates are applied in making the calculation. However, for oil, gas, or geothermal property, gross income does not include lease bonuses, advanced royalties, or other amounts payable without regard to production from the property.
Setup: In 2008 Kramer started a politically minded social network called PopRule. A startup veteran with several successes under his belt, he and his business partner sank their own money into the venture, built the product and put together a talented advisory board. Things promptly went downhill. The social media team behind Barack Obama's presidential campaign built a popular social network of their own, and Facebook's star was rising in the political sphere. Investors began to grumble.
My husband convinced me to stay home from work the next day and see my doctor. I left her office with prescriptions for antidepressants and a fast-acting anti-anxiety medication. I took my first pills a few hours after the appointment. As the anti-anxiety medication set in, my heart and mind slowed for the first time in months. I felt a calm set in that I hadn’t felt in a year. My head came up from under the waves. I hadn’t even known I was underwater. I had been drowning and never noticed I was wet.
Retirement accounts: Tapping into 401(k)s and individual retirement accounts (IRAs) to fund your brewery can be a risky strategy, as you are putting your retirement funds at risk. You’ll also face fees and taxes. The IRS allows a financing strategy known as a Rollover as Business Start-Up to avoid taxes and penalties, but the transaction is fairly complex, so hiring a professional is likely a smart move.
The song became controversial for its supposed references to drugs. On 20 May 1967, during the BBC Light Programme's preview of the Sgt. Pepper album, disc jockey Kenny Everett was prevented from playing "A Day in the Life".[76] The BBC announced that it would not broadcast the song due to the line "I'd love to turn you on", which, according to the corporation, advocated drug use.[10][77] Other lyrics allegedly referring to drugs include "found my way upstairs and had a smoke / somebody spoke and I went into a dream". A spokesman for the BBC stated: "We have listened to this song over and over again. And we have decided that it appears to go just a little too far, and could encourage a permissive attitude to drug-taking."[78][nb 6]
A firm will use a focused strategy at this stage to stress the uniqueness of the new product or service to a small group of customers. These customers are typically referred to in the marketing literature as the "innovators" and "early adopters." Marketing tactics during this stage are intended to explain the product and its uses to consumers and thus create awareness for the product and the industry. According to research by Hitt, Ireland, and Hoskisson, firms establish a niche for dominance within an industry during this phase. For example, they often attempt to establish early perceptions of product quality, technological superiority, or advantageous relationships with vendors within the supply chain to develop a competitive advantage.
The experience shattered my persona as a smart, successful entrepreneur and exposed me as a failure. Like a traditional Near Death Experience (NDE), this journey reordered my priorities and changed me as a person. Without it, I wouldn’t have quit drinking and taken up authenticity as my guiding star. Learning how to be me without armor and jazz hands has been a challenge but ultimately worth it — allowing me to be more successful in business and life.
“A startup goes from failure to failure. All it does from day one is run a series of experiments and just like in a lab, most of them will fail,” says Blank. “But when it’s complete failure … when you’re shutting the company down, that never feels okay. It feels shitty. If you’re the CEO, you failed your employees. You failed your investors. And after, you either grow or you don’t.”

Business owners generally want to immediately expense as much startup cost as they can because it means an immediate tax deduction. However, the IRS has strict guidelines for expensing and limiting these costs. The agency instructs business owners to expense the first $5,000 of startup costs, with a dollar-for-dollar phaseout at $50,000. If you had $51,000 of startup costs, you can only expense $4,000, not $5,000. Owners should amortize any remaining startup costs over 180 months. In this example, the business owner has $47,000 worth of startup costs remaining to amortize over the next 180 months.
Ultimately, [its] structure … is based on very large economies of scale … building out any transport service before it can get to that scale is extremely capital intensive … Karhoo, however, didn’t appear to have the reach with consumers to achieve anything like enough scale. [Its shutdown letter states that the] “Karhoo staff around the world in London, New York, Singapore and Tel Aviv have, over the past 18-months [sic], worked tirelessly to make Karhoo a success. Many of them have worked unpaid for the last six weeks in an effort to get the business to a better place. Unfortunately, by the time the new management team took control last week, it was clear that the financial situation was pretty dire, and Karhoo was not able to find a backer.”
The yield to maturity is generally shown in the literature you receive from your lender. If you do not have this information, consult your lender or tax advisor. In general, the yield to maturity is the discount rate that, when used in figuring the present value of all principal and interest payments, produces an amount equal to the principal amount of the loan.
It is vital to begin by establishing company requirements and defining the criteria for success. Companies vary in what they produce and how they sell it. Once these requirements and criteria are defined, work can begin on establishing a channel for the product to flow through and information relevant to the product can be made available centrally to all those who are relevant to its lifetime in the market. Shortcomings in existing processes can also be highlighted here and those areas necessary for gaining or maintaining a competitive advantage identified.
At this stage you might feel there is almost a routine-like feel to running your business. Staff is in place to handle the areas that you no longer have the time to manage (nor should you be managing), and your business has now firmly established its presence within the industry. Here you might start to think about capitalizing on this certain level of stability by broadening your horizons with expanded offerings and entry into new geographies.
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