Fondo

Hi everyone 👋 David here, former accountant & current CEO & founder of Fondo. Thank you for hunting us @katmanalac! Tax season can be a huge pain for founders. You are focused on getting customers and hitting your goals, and meanwhile you have corporate tax compliance requirements that you probably didn’t know existed. If you don’t file a tax extension or file your taxes on time: ❌ You cannot claim up to $500,000 in startup tax credits 💰 If you have a global subsidiary or shareholder you will face $10,000+ in tax penalties 🏦 Section 174, a new tax code enacted in 2022 that forces unprofitable startups to owe taxes, is in limbo and may get reversed (the tax bill that includes reversing Section 174 has passed the House, & now awaiting votes in the Senate). This could impact how much in tax credits you can get and how much in taxes you owe. By filing an extension you can wait to file until Section 174 is voted on, hopefully by October 15th. The existing options are time-consuming, complex, and fraught with potential errors (costing you up to $500k in missed tax credits or thousands in tax penalties). Hiring an accountant is expensive and requires time to manage. We are building Fondo to make this as easy as possible for you. With Fondo you get automation when you want it and white glove CPA support when you need it. We’d love to handle your extension and tax plan for $1. Here's the $1 deal: We file your Federal Tax Extension and provide a personalized Startup Tax Plan (including Section 174 impact), showing where and when you owe corporate taxes, and how much in tax credits you can get back -- all for just $1. Join 1,000+ founders and get started here: tryfondo.com/1

Congrats on the launch @davj and Team Fondo. 🎉 I'm not in the US so I can't use Fondo, but you've done a great job in making an accounting solution that is fun, modern, and lively. You're applying Xero's playbook very well, and we all know how they turned out 🙂

Fondo is a great tool! it's the easiest way to do taxes for startups! We used it in OpenCopilot and will keep using it every time.