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Rushabh Shah

CPA and Chartered Accountant

Bio

Freelance Bookkeeper and accountant at Meru Accounting. Pro-efficient using several accounting software. Certified Personnel of QuickBooks and Elite Partner with Xero. Serving Globally.
https://www.youtube.com/watch?v=XDOPVEp1wDs

Recent Answers

Tax

How do I know when my S-Corp has to pay taxes, and what do I need to fill out?


Rushabh Shah

CPA and Chartered Accountant

As an S-Corp in the US, your tax obligations and filing requirements are slightly different from those of a C-Corp. Here's an overview of when and how an S-Corp pays taxes and the forms you may need to fill out: 1) If your S-Corp is expected to have a tax liability of $500 or more for the year, you may need to make estimated tax payments on behalf of the shareholders. 2)As an S-Corp, your company itself does not pay federal income taxes. The shareholders are then responsible for paying taxes on their share of the S-Corp income. 3)Despite not paying federal income taxes directly, an S-Corp is still required to file an annual tax return using Form 1120S, U.S. Income Tax Return for an S Corporation.

Platforms

What are the best Wordpress themes to use for an expert platform like Clarity? Any other examples of expert platforms that are succesful?


Rushabh Shah

CPA and Chartered Accountant

Here are a few themes that can help to built a niche expert platform with voice and text questions: 1)BuddyPress: It's not a theme but a plugin that allows you to create a social networking platform on WordPress. Here you can enable voice and text-based communication for questions and answers. 2)ExpertMile: It is a WordPress theme specifically designed for expert consultation platforms. While it doesn't have voice-specific functionalities , you can potentially integrate voice capabilities through third-party plugins. 3)JustAnswer: It is a successful expert platform where users can ask questions and get answers from verified experts. Remember that while selecting a theme, you may need to combine it with various plugins such as voice and text-based question capabilities.

Accounting

If a C Corp just launched a few months ago with a Dec year end, do they pay federal tax payments now or do they wait a year?


Rushabh Shah

CPA and Chartered Accountant

If your C Corp in US just launched a few months ago with a Dec year end, you would generally need to start making estimated federal tax payments on a quarterly basis. Estimated tax payments for a C Corp are typically due on the 15th day of the 4th, 6th, 9th, and 12th months of the corporation's tax year. These estimated tax payments are based on the projected taxable income of the corporation for the current tax year. It's important to estimate your tax liability accurately to avoid underpayment of penalties.

eCommerce

Does any one know a luxury watches drop-ship company or companies based in Europe specifically Swiss?


Rushabh Shah

CPA and Chartered Accountant

There are many luxury watch drop-ship companies in Europe, including some in Switzerland. Here are a some examples: 1)Jura Watches: They are based in Ashbourne, UK. They carry a variety of luxury watch brands, including Swiss watches. 2)Watchmaster: They are retailer based in Berlin, Germany. They specialize in pre-owned luxury watches and offer drop-shipping services to their partners. 3)The Watch Gallery: They are a luxury watch retailer based in London, UK. They offer drop-shipping services for their partners.

Private Equity

I have a good opportunity to join a startup, my role will be to design and build a MVP, so far there are 3 people involved.


Rushabh Shah

CPA and Chartered Accountant

Here are some considerations to help you assess a fair percentage: 1)Evaluate the extent of your contribution to the startup's success. 2)Research the market standards for equity allocation in startups within your industry and region. 3)Remember that equity allocation is negotiable. 4)Assess the time and effort you will invest in the startup. Ultimately, the decision should reflect a balance between your contribution, market standards, and success of the startup.

Immigration

What are some tips for Canadian entrepreneurs looking to move to San Francisco?


Rushabh Shah

CPA and Chartered Accountant

Here are some tips to help you navigate the immigration process: 1)Research and identify the visa category that aligns with your specific situation and goals. Common options for entrepreneurs include the E-2 Treaty Investor Visa. 2)Engage an experienced immigration lawyer who specializes in U.S. immigration law. 3)Familiarize yourself with the San Francisco entrepreneurial ecosystem. 4)Moving to San Francisco can be expensive. Take into account the cost of living, office space, and other operational expenses when planning your budget. Remember, immigration processes can be complex and may require significant time and effort.

Seed Capital

How much potential value does a startup need to have in order to attract VC funding?


Rushabh Shah

CPA and Chartered Accountant

The potential value required to attract venture capital (VC) funding can vary on various factors, like industry, growth potential, and the specific investment theory of the venture capital firm. Here are a few considerations: 1)The startup's value proposition, differentiation, or disruptive potential are crucial factors in attracting VC interest. 2)VCs typically prioritize startups that have the potential for rapid scalability and significant growth. 3)VCs are interested in startups that can address larger market needs or disrupt existing markets. It's important to note that each VC firm may have different investment criteria and preferences.

Immigration

What is the most efficient and ethical way of a UK expat getting a visa in the U.S?


Rushabh Shah

CPA and Chartered Accountant

If you are looking for an ethical way to obtain a visa in the U.S. as a UK expat in the tech industry, here are a few options to consider: 1)If you work for a multinational company that has a presence in the U.S., you may be eligible for an L-1 visa. 2)H-1B visa is designed for foreign workers in specialty occupations that are in high demand and not readily available among U.S. workers. 3)O-1 visa is for individuals with extraordinary ability or achievement in their field, including science, business, education, or the arts. 4)If you have exceptional abilities, you may be eligible for an employment-based immigrant visa, such as the EB-1 or EB-2 category.

Social Games

Are there any examples of games or apps that have a k-factor (viral coefficient) of more than 1?


Rushabh Shah

CPA and Chartered Accountant

Yes, there are several examples of games and apps that have achieved a viral coefficient (k-factor) greater than 1. Here are a few notable examples: 1)Candy Crush Saga, a popular mobile game, achieved viral growth by integrating social elements. 2)TikTok, a short-form video app, has seen explosive growth and a high viral coefficient. 3)Snapchat, a multimedia messaging app, gained popularity among younger demographics and had a high viral coefficient. 4)WhatsApp, a messaging app, experienced rapid growth and achieved a viral coefficient above 1. It's important to note that achieving a viral coefficient above 1 is challenging and not all products will experience such rapid growth.

B2B Marketing

Marketing tips for an explainer video business?


Rushabh Shah

CPA and Chartered Accountant

Here are some marketing tips for your explainer video services: 1)Clearly identify the target audience 2) Optimize your website for search engines 3) Create a user-friendly portfolio on your website 4)Utilize video marketing channels such as YouTube and Vimeo. 5)Establish a strong presence on social media platforms, like LinkedIn, Twitter, and Facebook. Remember to monitor the effectiveness of your marketing efforts regularly.

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eCommerceBookkeepingQuickbooksAccountingReal Estate TransactionsFinancial AccountingTax AccountingCash Flow ForecastingUS GAAPTax Preparation