Financial Operations Insights, Guides, and Tools
Sales and Use Tax in Healthcare and Medical Products: Common Exposure Areas
The medical products sector covers a vast array of products and services, making compliance a complicated undertaking at the best of times. For life sciences startups (and companies at any growth stage, for that matter), this introduces many challenges, not the least of which is financial, tax, and compliance exposure.
Multi-State Tax for MedTech Sales Teams: Nexus Triggers and Compliance
It’s not unusual for a MedTech company’s sales footprint growth to outpace its tax infrastructure. A solid field team fuels rapid market penetration, but that’s a double-edged sword, as it can inadvertently create an unintended state and local tax burden.
Internal Controls for Life Sciences Startups: The “Pre-Audit” Checklist
Life sciences startups are typically not laser-focused on anything beyond innovation and their current projects, and finding the funding they need to keep it all going. However, without proper internal controls and SOPs, compliance and regulatory approvals may be challenging.
Clinical Trial Accruals: How Finance Teams Avoid Quarter-End Surprises
Clinical trials are complex endeavors, often spanning years and rarely aligning with a company’s accounting periods. And therein lies the challenge: how do finance teams accurately track trial accrual and avoid nasty surprises when closing out the quarter? When the numbers don’t line up, there is a distinct ripple effect in financial statements, and investors and decision-makers will undoubtedly feel the consequences.