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<h2>Empowering Start-Ups with Financial Expertise</h2>In the ever-evolving landscape of start-ups, having a solid financial foundation is crucial. This is why the recent partnership between Stoic Bookkeeper and Ramp is creating waves in the entrepreneurial community. The collaboration aims to provide start-ups with the financial tools and expertise they need to thrive in competitive markets.Stoic Bookkeeper, renowned for its meticulous attention to detail and comprehensive bookkeeping services, brings a wealth of experience to the table. By partnering with Ramp, a dynamic platform known for its innovative financial payment and corporate card solutions, they are set to revolutionize how start-ups manage their finances.<figure id="figure-mtn5dpxnqem7mr2azz"><img id="mtn5dpxnqem7mr2azz" src="https://cdn.durable.co/getty/13YhClUelGpVQVR7TNm0bs1fq511NZyTdCZZy7LWboibrnfirUlVkyPkx5g8M0j0.jpeg" alt="start-up finance" class="object-cover bg-gray-100 rounded-lg md:rounded-xl lg:rounded-2xl" style="aspect-ratio: 16/9;" data-mce-src="https://cdn.durable.co/getty/13YhClUelGpVQVR7TNm0bs1fq511NZyTdCZZy7LWboibrnfirUlVkyPkx5g8M0j0.jpeg" data-mce-style="aspect-ratio: 16/9;"></figure><h2>How the Partnership Benefits Start-Ups</h2>Start-ups often face challenges in managing their finances effectively. This partnership addresses these challenges by offering a suite of services designed to streamline financial operations. With this collaboration, start-ups can expect:<ul><li>Enhanced financial management: Stoic Bookkeeper's expertise combined with Ramp's technology ensures that financial processes are efficient and error-free.</li><li>Cost savings: By optimizing expense management and automating tasks, start-ups can significantly reduce operational costs.</li><li>Improved decision-making: Access to real-time financial data enables entrepreneurs to make informed decisions quickly.</li></ul>This synergy empowers start-ups to focus more on innovation and growth rather than getting bogged down by financial complexities.<h2>The Role of Technology in Financial Management</h2>Technology plays a pivotal role in modern financial management. Ramp's platform offers advanced features such as automated expense tracking, integration with various software tools, and insightful analytics. These capabilities allow start-ups to gain a clearer understanding of their financial health and make strategic adjustments as needed.<figure id="figure-ezmcpf8yr3m7mr2gxd"><img id="ezmcpf8yr3m7mr2gxd" src="https://cdn.durable.co/getty/1aQkHGv9RF9udQqLZptFKbPy3u72PIK5MY3XIzWyPqSkeBIcqv4LfcpFABngp79u.jpeg" alt="financial technology" class="object-cover bg-gray-100 rounded-lg md:rounded-xl lg:rounded-2xl" style="aspect-ratio: 16/9;" data-mce-src="https://cdn.durable.co/getty/1aQkHGv9RF9udQqLZptFKbPy3u72PIK5MY3XIzWyPqSkeBIcqv4LfcpFABngp79u.jpeg" data-mce-style="aspect-ratio: 16/9;"></figure>Stoic Bookkeeper complements this technological prowess with their human touch, ensuring that all financial data is accurate and compliant with regulatory standards. This blend of technology and expertise offers start-ups a robust framework for managing their finances effectively.<h2>A Look Ahead: The Future of Start-Up Finance</h2>The partnership between Stoic Bookkeeper and Ramp signals a promising future for start-up finance. As more entrepreneurs recognize the value of integrating comprehensive financial services with cutting-edge technology, the demand for such collaborations is expected to grow.For start-ups, this partnership not only means access to better financial tools but also a chance to build a sustainable business model that can withstand market fluctuations. The ability to pivot quickly based on real-time financial insights is a game-changer in today’s fast-paced business environment.<figure id="figure-6dtturqs3gm7mr2lr4"><img id="6dtturqs3gm7mr2lr4" src="https://cdn.durable.co/getty/21IXbWsJvd18Avrkb0yty9NMTkQSHHR4DfwV8lzttW7x8tn7ROn8Or42cJCRx0dA.jpeg" alt="growth chart" class="object-cover bg-gray-100 rounded-lg md:rounded-xl lg:rounded-2xl" style="aspect-ratio: 16/9;" data-mce-src="https://cdn.durable.co/getty/21IXbWsJvd18Avrkb0yty9NMTkQSHHR4DfwV8lzttW7x8tn7ROn8Or42cJCRx0dA.jpeg" data-mce-style="aspect-ratio: 16/9;"></figure><h2>Conclusion: A New Era of Financial Collaboration</h2>The collaboration between Stoic Bookkeeper and Ramp marks a significant step towards redefining how start-ups approach financial management. By combining top-notch bookkeeping services with innovative technology, they are setting new standards in the industry.This partnership is more than just a business agreement; it’s a commitment to empowering start-ups with the resources they need to succeed. Entrepreneurs looking for reliable financial solutions now have a powerful ally in Stoic Bookkeeper and Ramp, paving the way for a brighter future.

Stoic Bookkeeper Partners with Ramp to Support Start-Ups

Understanding revenue recognition in the context of blockchain transactions is essential for accountants and bookkeepers navigating the complexities of Web3. Specifically, the revenue recognition principle dictates that revenue should be recognized when a performance obligation is satisfied. This means revenue is recorded when the customer gains control of the goods or services provided, as defined in accounting standards.For digital asset accountants and Web3 businesses, this principle is particularly relevant when dealing with staking activities, as it impacts both financial valuation and compliance with tax regulations.What Is Staking and How Does It Generate Rewards? Staking involves allocating cryptocurrency to support blockchain infrastructure, often by operating a validator. Validators earn rewards—typically in the form of native blockchain tokens—for validating transactions. Similar to earning interest, staking rewards incentivize participation in securing the network.However, a critical accounting question arises: When should staking rewards be recognized as revenue? Should they be recorded while still under the custody of the validator, or only after being transferred to a wallet owned by the business? This distinction matters because validators often manage assets for multiple parties.Revenue Recognition for Staking Rewards The IRS has clarified that staking rewards must be reported as income based on their fair market value at the time the taxpayer gains control over them. This means revenue should be recognized when rewards are transferred from the validator to a wallet controlled by the business. Until that point, businesses do not have full control over these rewards, making it inappropriate to recognize them as revenue earlier.Accounting Implications If a business opts to record staking rewards as Accounts Receivable while they remain under validator custody, they must adjust their entries upon transfer.&nbsp;For example:<ul><li>Debit Accounts Receivable and credit Staking Revenue when rewards are earned but not yet transferred.</li><li>Once transferred, additional entries may be needed to account for fair value changes.</li></ul>This approach ensures compliance with both accounting principles and tax regulations while maintaining accurate financial reporting.Why This Matters Properly recognizing staking rewards is not just about compliance—it also affects:<ul><li>Business Valuation: Misstating revenue can distort financial health and mislead stakeholders.</li><li>Tax Reporting: Incorrect timing of income recognition may lead to penalties or audits.</li><li>Asset Valuation: Staking rewards fluctuate in value, so accurate reporting ensures that financial statements reflect true market conditions.</li></ul>Final Thoughts Staking activities highlight how traditional accounting principles intersect with emerging blockchain technologies. By adhering to proper revenue recognition practices and understanding tax implications, accountants can ensure accurate reporting and help businesses navigate this evolving landscape. For Web3 professionals, staying informed about these nuances is critical to maintaining compliance and fostering trust among stakeholders.&nbsp;Sources:Haqshanas, R. (2025, January 2). IRS delays new crypto tax reporting rules until 2026. 99Bitcoins. Retrieved February 22, 2025. Warfield, D.E., Kieso, J.J., &amp; Weygandt, T.D. Intermediate Accounting (18th Edition). Wiley Global Education US, 2022.Disclaimer: The information provided in this blog is for educational purposes only and should not be considered as professional accounting, tax, or financial advice. Stoic Bookkeeper is not a licensed CPA or tax professional. We soley provides services related to general bookkeeping services. Readers are encouraged to consult with a qualified CPA or licensed tax advisor before reconciling or accounting for digital asset transactions to ensure compliance with applicable laws and regulations. Stoic Bookkeeper LLC has access to numerous licensed proffesionals, and we are happy to schedule a consultation.&nbsp;

Recognizing Revenue from Staking Digital Assets

Tax season can be a stressful time for many individuals and businesses, especially in a bustling city like Los Angeles. With its unique tax regulations and diverse economic landscape, preparing for tax season requires careful planning and organization.&nbsp;<h2>Start Early and Stay Organized</h2>The key to a stress-free tax season is starting early. Begin by gathering all necessary documents, such as W-2s, 1099s, and receipts for deductible expenses. Keeping these documents organized throughout the year can save you significant time and effort when tax season arrives.<figure id="figure-hf3f34mtl9m7hrqnkf"><img id="hf3f34mtl9m7hrqnkf" src="https://media.gettyimages.com/id/2179430871/photo/finance-and-economy.jpg?b=1&amp;s=2048x2048&amp;w=0&amp;k=20&amp;c=TxDE6FioDvnRFXXrrhQC9zREch-QLQsQgI-XBm9swfQ=" alt="tax documents" class="object-cover bg-gray-100" style="aspect-ratio: 16/9;" data-mce-src="https://media.gettyimages.com/id/2179430871/photo/finance-and-economy.jpg?b=1&amp;s=2048x2048&amp;w=0&amp;k=20&amp;c=TxDE6FioDvnRFXXrrhQC9zREch-QLQsQgI-XBm9swfQ=" data-mce-style="aspect-ratio: 16/9;"></figure>Consider using digital tools to help with organization. Many apps and software solutions are available to scan and store your receipts and documents securely, which reduces clutter and ensures you have everything you need at your fingertips.<h2>Understand Local Tax Regulations</h2>Los Angeles has specific tax regulations that can affect your filing process. For instance, if you own property or run a business in LA, you might be subject to local taxes that differ from federal ones. It’s crucial to familiarize yourself with these regulations or consult a CPA who understands the local landscape.<figure id="figure-ndp6uezc74m7hrqnkf"><img id="ndp6uezc74m7hrqnkf" src="https://media.gettyimages.com/id/1463288473/photo/los-angeles-ca.jpg?b=1&amp;s=2048x2048&amp;w=0&amp;k=20&amp;c=68038FKCx19fjFCpxescTsnx70nqdxEk5n2ZmwhR4dc=" alt="los angeles skyline" class="object-cover bg-gray-100" style="aspect-ratio: 16/9;" data-mce-src="https://media.gettyimages.com/id/1463288473/photo/los-angeles-ca.jpg?b=1&amp;s=2048x2048&amp;w=0&amp;k=20&amp;c=68038FKCx19fjFCpxescTsnx70nqdxEk5n2ZmwhR4dc=" data-mce-style="aspect-ratio: 16/9;"></figure>Additionally, be aware of any tax incentives or credits available to Los Angeles residents. These can provide significant savings but are often overlooked by taxpayers unfamiliar with local policies.<h2>Maximize Deductions and Credits</h2>One of the best ways to reduce your tax liability is by maximizing deductions and credits. Common deductions include mortgage interest, state taxes paid, and charitable donations. A local CPA can provide guidance on which deductions apply to your situation.<ul><li>Home office expenses</li><li>Education credits</li><li>Energy-efficient home improvements</li></ul>Don’t forget about lesser-known deductions specific to California residents, such as certain medical expenses or disaster-related losses.<h2>Consider Professional Help</h2>Navigating the complexities of tax preparation can be overwhelming, particularly if you have multiple income sources or investments. Hiring a professional CPA can alleviate some of this burden, ensuring that your taxes are filed accurately and efficiently.<figure id="figure-92v73v9olpm7hrqnkf"><img id="92v73v9olpm7hrqnkf" src="https://media.gettyimages.com/id/961308742/photo/securing-finance-for-their-future-dreams.jpg?b=1&amp;s=2048x2048&amp;w=0&amp;k=20&amp;c=fOx3dfhvhYnGxy2z1heTH43EWxOU9HV1HPtKV9PVIPs=" alt="accountant office" class="object-cover bg-gray-100" style="aspect-ratio: 16/9;" data-mce-src="https://media.gettyimages.com/id/961308742/photo/securing-finance-for-their-future-dreams.jpg?b=1&amp;s=2048x2048&amp;w=0&amp;k=20&amp;c=fOx3dfhvhYnGxy2z1heTH43EWxOU9HV1HPtKV9PVIPs=" data-mce-style="aspect-ratio: 16/9;"></figure>CPAs have the expertise to identify potential issues before they arise and can represent you in case of an audit. Moreover, they stay updated on the latest tax laws and changes, providing peace of mind come tax season.<h2>Plan for Next Year</h2>Once your taxes are filed, take some time to reflect on what went well and what could be improved. Consider adjusting your withholdings or estimated tax payments if you received a large refund or owed more than expected.By planning ahead and implementing new strategies throughout the year, you can make the next tax season even more manageable. Remember, preparation is key to reducing stress and ensuring a smooth tax filing process.

How to Prepare for Tax Season in Los Angeles: Tips and Insights

Bitcoin - Crypto Currency Wallet On A mobile Phone

Over the course of the past couple of years, FASB has been taking into consideration the proper methodology associated with how to account for digital assets on the balance sheet. Accordingly, to ASU 2023-08, which was recently made into effect last December 2024, states that businesses that have acquired digital assets must reflect them on their financial at the Fair Market Value, which also includes both assets and liabilities, both short term and long term (Rashty 2024). Digital assets have been developing vary use-cases across various blockchain ecosystems, includes the ability to use certain digital assets, such as Bitcoin, as a form of collateral, to then borrow against, and take out a long-term loan. These crypto loans can be in the form of an alternative digital asset which is subject to charges in prices / exchanges rates, which then in turn has an ever-changing Fair Market Value that must be accounted for. &nbsp;The FASB ruling, ASU 2023-08 also coincided with what is mentioned in Intermediate Accounting, “Companies have the option to record fair value in their accounts for most financial assets and liabilities, including noncurrent liabilities. Fair value measurement for financial instruments, including financial liabilities, provides more relevant and understandable information than amortized cost. If companies choose the fair value option, noncurrent liabilities, such as bonds and notes payable, are recorded at fair value, with unrealized holding gains or losses reported as part of net income. An unrealized holding gain or loss is the net change in the fair value of the liability from one period to another, exclusive of interest expense recognized. (Warfield 2022, Section 13-42).” Therefore, when a business acquires a loan in the form of a digital asset, the company will not only reflect the Fair Market Value or technically what the cost basis was at the time of acquisition but also periodically make necessary adjusting entries to account for either unrealized gains or losses (short-term or long-term). This way, when the business closes out their books for a specified period, the digital asset account that represents long-term liabilities will properly reflect the Fair Market Value for that specific ending period. &nbsp;Of course, as both interest and principal payments are paid off over the course of time, the business can make the corresponding entries to account for the interest expenses along with the overall ammortization of the loan. In terms of digital asset accounting, the debits and credits associated with the journal entries will be reflected at the Fair Market Value during the exact time of disposal. Moreover, since the digital asset loan value may have appreciated in value since the date of acquisition, and there are disposals that are occurring, a company must also account for any realized gains or losses for tax purposes, even if the digital asset was acquired in the form of a long-term liability. &nbsp;&nbsp;Rashty, J. (2024, December). FASB’s new guidance on accounting for crypto assets. The CPA Journal. Retrieved from https://www.cpajournal.com/2024/12/25/fasbs-new-guidance-on-accounting-for-crypto-assets/#google_vignette &nbsp;Warfield, Donald E. Kieso, Jerry J. Weygandt, Terry D. Intermediate Accounting. Available from: MBS Direct, (18th Edition). Wiley Global Education US, 2022.&nbsp;

Crypto Loans & FASB Best Practices

<h3>Accounting is no longer just about crunching numbers—it's about leveraging cutting-edge AI tools to save time, reduce errors, and deliver deeper financial insights.</h3><figure id="figure-t4otkoxjtom6la18qm" class=""><img id="t4otkoxjtom6la18qm" src="https://cdn.durable.co/blocks/109cjGjxKQqXFKkrIUPwErmpVYWL0OgmdOyf7LM0bYBSBIiFossc2BE22xOWalCh.png" alt="" title="" class="object-cover bg-gray-100 rounded-lg md:rounded-xl lg:rounded-2xl" style="aspect-ratio: 3/2; object-position: undefined undefined;" data-corners="default" data-aspect="3:2" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/109cjGjxKQqXFKkrIUPwErmpVYWL0OgmdOyf7LM0bYBSBIiFossc2BE22xOWalCh.png" data-mce-style="aspect-ratio: 3/2; object-position: undefined undefined;"></figure>In 2025, a wave of innovative platforms is transforming the profession, automating up to 95% of routine tasks and empowering accountants to focus on strategy. Whether you're managing clients or streamlining your own business, these AI-powered solutions are redefining what's possible in modern accounting.&nbsp;Ramp: Automates expense categorization, receipt collection, and invoice processing. Includes AI-powered coding suggestions and real-time reporting. Recent Developments: Added treasury solutions to optimize cash flow and integrated with Workday for enhanced financial management. Best For: Businesses focused on expense management and accounts payable automation.Pilot: &nbsp;Combines generative AI (Pilot GPT) with expert bookkeeping, tax preparation, and CFO services. Recent Developments: Expanded its Pilot GPT capabilities in 2023 to automate data entry and offer strategic insights. Best For: Startups requiring both automation and expert financial guidance.Botkeeper: Automates bookkeeping tasks like bank reconciliation, transaction categorization, and financial reporting. Offers human oversight for enhanced accuracy. Recent Developments: Continues to improve machine learning algorithms for more precise predictions. Best For: Accounting firms managing multiple clients.Bookkeeping.ai: Automates 95% of accounting tasks, including ledger preparation, tax form generation, and real-time financial advice. Recent Developments: Introduced AI-driven tax chat for instant regulatory insights. Best For: Small businesses needing high levels of automation.Basis: Streamlines workflows with AI agents for data entry, reconciliation, and report preparation. Recent Developments: Raised $34M in Series A funding in December 2024 to address labor shortages in accounting. Best For: Accounting firms seeking efficiency improvements.Kick: Self-driving back office with automated transaction categorization and tax preparation. Recent Developments: Secured $9M in seed funding in October 2024 to expand operations. Best For: Small businesses looking for affordable bookkeeping solutions.Vic.ai: Focuses on accounts payable automation with AI-powered invoice processing and purchase order matching. Recent Developments: Integrated predictive analytics into its platform for better financial insights. Best For: Mid-sized to large enterprises managing complex accounts payable workflows.Truewind: Provides concierge bookkeeping services combined with AI for monthly closings and financial reporting. Recent Developments: Enhanced its R&amp;D tax credit services in 2024. Best For: Startups requiring precise financial management.<h3>Additional AI-Accounting Tools</h3>Booke AI: Automates reconciliation and categorization with RPA and Generative AI. Offers OCR for invoices and receipts. <ul><li>AI Capabilities: Detects inconsistencies in books, generates interactive reports, and integrates with QuickBooks/Xero.</li><li>Best For: Accounting firms seeking comprehensive automation.</li></ul>cc:MonetKey: Fraud detection, inventory management, automated invoicing. <ul><li>AI Capabilities: Continuous monitoring for anomalies and advanced ledger management.</li><li>Best For: SMBs needing fraud prevention alongside bookkeeping.</li></ul>Shield AIKey: Advanced automation for complex accounting tasks. <ul><li>AI Capabilities: Predictive modeling to streamline financial workflows.</li><li>Best For: Enterprises handling large-scale accounting operations.</li></ul>

Emerging AI Accounting Tools for 2025

Gold Bitcoin. Cryptocurrency  Data Concept

<h2>Understanding the Repeal of SAB 121</h2>In recent years, the intersection of banking and digital assets has become increasingly significant, with regulatory frameworks continually evolving to accommodate this burgeoning sector. The repeal of Staff Accounting Bulletin No. 121 (SAB 121) marks a pivotal moment that could reshape the landscape for banks engaging in digital assets. Initially, SAB 121 provided guidelines on how banks should account for, and report on, digital assets. Its repeal, however, raises critical questions about the future direction of financial regulations in this space.<figure id="figure-m1e59o1ngm6hmh8dl"><img id="m1e59o1ngm6hmh8dl" src="https://cdn.durable.co/getty/18ReC6sW479i3nIfVfKPnNRbXEhYcKafOH2l1oNKY4xVgtO8U0NtoGebaETHUO1r.jpeg" alt="banking regulations" class="object-cover bg-gray-100 rounded-lg md:rounded-xl lg:rounded-2xl" style="aspect-ratio: 16/9;" data-mce-src="https://cdn.durable.co/getty/18ReC6sW479i3nIfVfKPnNRbXEhYcKafOH2l1oNKY4xVgtO8U0NtoGebaETHUO1r.jpeg" data-mce-style="aspect-ratio: 16/9;"></figure><h3>Implications for Banks</h3>The repeal of SAB 121 has immediate and long-term implications for banks. In the short term, banks may experience a degree of uncertainty as they navigate the absence of specific guidelines. This uncertainty can impact their operations, particularly in areas like compliance and risk management. However, the repeal also presents an opportunity for banks to explore more flexible accounting practices that align with their strategic objectives.Long-term, the repeal may encourage banks to innovate in their approach to digital assets. Without the constraints of SAB 121, banks might be more inclined to develop new products and services that cater to the growing demand for digital assets. This could lead to enhanced customer experiences and increased competitiveness in the financial sector.<h3>The Impact on Digital Asset Regulation</h3>Digital asset regulation is a rapidly evolving field, and the repeal of SAB 121 signals a shift in regulatory priorities. It suggests that regulators are reevaluating their approach to digital assets, potentially paving the way for new frameworks that better reflect the dynamic nature of these technologies. This could include more nuanced guidelines that address the unique characteristics of different types of digital assets.Such regulatory changes could have significant implications for the development of digital asset markets. More comprehensive and adaptable regulations could foster innovation by providing clearer pathways for firms to operate legally and securely within these markets.<h3>Opportunities for Innovation</h3>The absence of SAB 121 can be seen as a catalyst for innovation within banks. Freed from rigid accounting requirements, banks have the opportunity to explore new business models and partnerships in the digital asset space. This could involve leveraging blockchain technology to enhance operational efficiency or collaborating with fintech companies to offer innovative financial products.The repeal may also encourage banks to invest in technological infrastructure that supports digital asset transactions. By doing so, banks can position themselves as leaders in digital finance, capitalizing on the growing interest in cryptocurrencies and other digital assets.<h3>Preparing for the Future</h3>As banks adjust to the post-SAB 121 environment, it is essential that they remain proactive in anticipating future regulatory changes. Engaging with regulators and industry stakeholders can provide valuable insights into upcoming developments and help banks align their strategies with evolving standards.Moreover, banks should consider enhancing their risk management frameworks to address potential challenges associated with digital assets. By adopting robust security measures and maintaining transparency in their operations, banks can build trust with clients and strengthen their position in the digital asset market.<h3>Conclusion</h3>The repeal of SAB 121 is a landmark event that underscores the dynamic nature of financial regulation in the context of digital assets. While it presents challenges, it also offers a unique opportunity for banks to innovate and adapt to a rapidly changing landscape. By embracing these changes and preparing for future developments, banks can play a pivotal role in shaping the future of digital finance.

The Repeal of SAB 121: Implications for Banks

Stoic Bookkeeper LLC

General Corporate Bookkeeping Services & Digital Asset Accounting Support

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