I am starting a series of articles about the features of business registration, taxation and accounting for various professions and industries. These articles will focus on the features and my personal experience of working with specialists in various fields of activity. I'll start with IT professionals and startups.
Registration
- Software engineers are required to register as "osek murshe", and other IT professionals who are not engineers can usually register as "osek patur".
- Startups are almost always registered as limited liability companies. This is very important for financing, attracting investors and other specific features of startups.
Software
- IT professionals and startup owners value their time and automation highly. Therefore, they speak very positively about the Finbot program that I provide to my clients. The program saves a lot of time and energy by allowing you to automatically send receipts to clients via email and WhatsApp, work in the cloud without the need for face-to-face meetings, generate various reports and obtain business information.
Business development
- As a rule, IT specialists are very smart people and highly qualified professionals, but, unfortunately, they often underestimate their services. Accordingly, the profitability of their business and services is far from the maximum possible. Therefore, in addition to traditional accounting and auditing services, I offer IT professionals a package of services that includes business consulting, pricing and other business development services.
Work as an employee or freelancer
- High-quality IT specialists are in great demand in Israel, so they often have the opportunity to work either as an employee or as a freelancer for a particular company. I often consult on this topic, help you choose the best option and determine a strategy for negotiations with the owner of the company in order to get the most profitable result for the IT specialist. It is important to understand that the owner of the company has at least a 25% savings on the same amount of earnings for a freelancer compared to the salary of an employee for the same amount. Therefore, it is extremely important for an IT specialist to understand the nuances associated with working as an employee and freelancer, social benefits, etc. Understanding all the nuances and conducting negotiations correctly can bring in additional tens and sometimes hundreds of thousands of shekels per year.
Startups
- Choosing the right accountant/auditor is extremely important for a technology startup. Very often, a startup requires funding from a “Chief Scientist,” and the Rohe Heshbon who accompanies the startup must prepare specific financial statements correctly and on time. Startups often provide options for employees, so choosing an option program, employee salaries, and tax planning have many nuances. Startups are very dynamic, and they require a CPA who fits the spirit of the startup and is an essential professional to its success.
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