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The Tragic Tale of Bench Accounting: From Startup Darling to Bankruptcy
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Bench Accounting Bankruptcy: Imagine waking up to find your entire financial history has vanished. That’s exactly what happened to 35,000 small business owners when Bench Accounting abruptly shut down on December 27, 2024.
Could Bench have been saved? What lessons can small business owners and startups learn from this?
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Hey there, welcome to my channel! I'm Noel Lorenzana, a Registered CPA in Illinois. My goal is to help you pay only what you legally owe in taxes, and take the fear out of dealing with taxes and the IRS. Just a heads up—watching this video doesn't make me your personal accountant. No client relationship is formed here. Enjoy the video!
On, this channel, I simplify taxes for your business and offer tax tips for you! Let me know if there is anything you would like me to discuss. Feel free to connect with me on Social Media.
★CONNECT WITH ME ON SOCIAL MEDIA ★
🎥 RECOMMENDED VIDEOS 🎥
Thanks for watching my video on, "The Tragic Tale of Bench Accounting: From Startup Darling to Bankruptcy"
Disclaimer: This video, and the ideas presented in it, are for entertainment, and informational purposes only and should not be construed as accounting, tax, or legal advice. It is your responsibility to take all necessary steps to independently verify and ascertain that any information you choose to rely on from or take action based on this video is accurate.
⏱️VIDEO CHAPTERS⏱️
00:00 - Introduction: Bench Accounting's Tragic Bankruptcy
02:30 - Bench Accounting: Founder and CEO (The Turning Point)
04:04 - Bench Accounting: The Fall (Operational Struggles and Collapse)
06:54 - The Fall of Bench Accounting: Lessons Learned
07:08 - Lesson 1. Founders Matter
07:43 - Lesson 2. The Dangers of Scaling Too Fast.
08:11 - Lesson 3. Always Back Up Your Financial Data.
09:01 - Lesson 4. The Reality of Tech-Driven Bookkeeping
09:41 - Bench Accounting Rise and Fall: Insights & Takeaways
10:17 - Bench Accounting Customers: What You Should Do Now
#benchaccounting #bookkeepingtips #smallbusinesstips
Could Bench have been saved? What lessons can small business owners and startups learn from this?
👪 Join My Free Facebook Group and Connect with CPAs and Tax Pros!
💜 Enjoy My Work? Support Me on Patreon!
💡 NEW: Grab My Tax Deductions Cheatsheet and Maximize Your Tax Savings!
📘 Free Ebook 10 Tips to Simplify Your Taxes:
💜 Show Your Support: Fuel Our Channel with a Cup of Coffee! ☕️
📖 Transform Your Accounting - Learn Modernization Concepts in My Book Today!
Hey there, welcome to my channel! I'm Noel Lorenzana, a Registered CPA in Illinois. My goal is to help you pay only what you legally owe in taxes, and take the fear out of dealing with taxes and the IRS. Just a heads up—watching this video doesn't make me your personal accountant. No client relationship is formed here. Enjoy the video!
On, this channel, I simplify taxes for your business and offer tax tips for you! Let me know if there is anything you would like me to discuss. Feel free to connect with me on Social Media.
★CONNECT WITH ME ON SOCIAL MEDIA ★
🎥 RECOMMENDED VIDEOS 🎥
Thanks for watching my video on, "The Tragic Tale of Bench Accounting: From Startup Darling to Bankruptcy"
Disclaimer: This video, and the ideas presented in it, are for entertainment, and informational purposes only and should not be construed as accounting, tax, or legal advice. It is your responsibility to take all necessary steps to independently verify and ascertain that any information you choose to rely on from or take action based on this video is accurate.
⏱️VIDEO CHAPTERS⏱️
00:00 - Introduction: Bench Accounting's Tragic Bankruptcy
02:30 - Bench Accounting: Founder and CEO (The Turning Point)
04:04 - Bench Accounting: The Fall (Operational Struggles and Collapse)
06:54 - The Fall of Bench Accounting: Lessons Learned
07:08 - Lesson 1. Founders Matter
07:43 - Lesson 2. The Dangers of Scaling Too Fast.
08:11 - Lesson 3. Always Back Up Your Financial Data.
09:01 - Lesson 4. The Reality of Tech-Driven Bookkeeping
09:41 - Bench Accounting Rise and Fall: Insights & Takeaways
10:17 - Bench Accounting Customers: What You Should Do Now
#benchaccounting #bookkeepingtips #smallbusinesstips
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