The Top 6 Startup Finance FAQ’s | Startup Finance Basics w/ Kruze's Scott Orn

This Week in Startups

Jason Calacanis

Technology

4.4 • 1.3K Ratings

🗓️ 12 December 2024

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

Todays show:

In the latest edition of Startup Finance Basics, Jason sits down with Scott Orn from Kruze Consulting to answer the six most important founder/startup questions around finance, accounting, and taxes.

Timestamps:

(0:00) Kruze COO, Scott Orn, joins Jason to dive into Finance Basics FAQs.

(1:05) How can I avoid paying payroll tax as a startup founder?

(6:54) How do you shut down a startup?

(11:33) Why do I owe Delaware $50,000 in franchise taxes?

(12:58) I’ve got my first customer lined up! How do I get paid?

(16:26) Can I tell VCs that implementation revenue is ARR?

(19:59) Should I raise venture debt when I raise my Series A?

Check out Kruze: https://kruzeconsulting.com Check out more Finance Basics here: THISWEEKINSTARTUPS.COM/basics

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Transcript

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0:00.0	Hey, everybody, welcome back to This Week in Startups.
0:05.1	We're doing our Startup Basics series.
0:07.0	It's a very simple series.
0:08.1	You can go to This Weekend Startups.com slash basics to see all the different episodes we've done.
0:12.9	This is where we work with some of our top partners, service providers,
0:17.0	accountants, legal, and HR talent to help you. Founders make sure you're doing
0:24.5	things right. And tight is right with me again. My pal, Scott Orne, he's the CEO over at
0:30.7	Cruz Consulting with a K. They're a CPA. They focus on VC-back startups. They've got tons of
0:37.4	our portfolio companies as clients,
0:39.1	including podcast AI. They're doing great. They have revenue. They raise money. And then a
0:43.5	couple of our, you know, legendary startups like Superhuman and Com started with Cruz and then graduated
0:49.1	because, hey, they became really big companies and Cruz likes to work with, likes to work with the emerging ones.
0:55.1	How you doing, Scott?
0:55.9	I'm doing great.
0:56.5	Thanks for having me.
0:57.7	All right.
0:58.1	Let's talk about some of the most common founder startup questions we get.
1:03.4	The first one we should do is, how can I avoid paying payroll tax as a startup founder?
1:08.7	I think it's going to be an amazing episode because you and I, like, we're teed up on
1:12.6	these.
1:13.6	We hear these same kind of crazy stuff.
1:14.6	So you probably are not going to be able to avoid paying payroll taxes as a founder.
	...

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