Mike Thrift

Marketing Manager

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16 май 2026 г.

Step Transaction Doctrine: How the IRS Collapses Multi-Step Tax Plans

The step transaction doctrine lets the IRS treat a sequence of formally separate steps as one taxable transaction. This guide explains the three tests courts apply — end result, mutual interdependence, and binding commitment — the landmark cases (Gregory v. Helvering, Court Holding, Kimbell-Diamond), the 2026 transactions most exposed (1031 drop-and-swaps, pre-sale entity conversions, gifts before the estate exemption sunset), and the documentation habits that keep multi-step plans defensible.

mike

tax-planningtax-compliancereal-estate

16 май 2026 г.

Subchapter T Patronage Dividends Explained: How Co-ops Avoid Double Tax, Issue Qualified and Nonqualified Written Notices of Allocation, and Report Member Distributions on Form 1099-PATR

How Subchapter T lets U.S. cooperatives deduct patronage dividends and avoid corporate double tax — covering the 20% cash floor for qualified written notices of allocation, the post-2017 shift toward nonqualified treatment, per-unit retains, Form 1099-PATR box-by-box reporting, Section 199A(g) for specified ag co-ops, and the recordkeeping that turns a deduction into a defensible one.

mike

cooperativestaxtax-compliance

15 май 2026 г.

100% Bonus Depreciation Is Back: How Small Businesses Combine Section 168(k) and Section 179 in 2026 to Write Off Equipment the Year They Buy It

100% bonus depreciation under Section 168(k) is permanent again for property placed in service after January 19, 2025, and Section 179's 2026 limit is $2,560,000. This guide shows how small businesses combine both to deduct equipment the year it is bought, with a worked $1.2M example and the disqualification traps to avoid.

mike

bonus-depreciationsection-179tax-planning

15 май 2026 г.

1099-K Threshold Whiplash: What Gig Workers and Online Sellers Need to Know for 2026

For the 2026 tax year the Form 1099-K threshold reverted to $20,000 and more than 200 transactions, but you must still report all income whether or not a form arrives. This guide explains who gets a 1099-K, how to reconcile Box 1a from gross to taxable income, and where the numbers go on Schedule C or Schedule 1.

mike

taxtax-complianceirs-reporting

15 май 2026 г.

The 13-Week Cash Flow Forecast: A Survival Guide for Small Business Liquidity

A 13-week cash flow forecast uses the direct method to project weekly cash movement across one quarter, surfacing the exact day a profitable business could still bounce payroll. Here is how to build, read, and roll one forward.

mike

cash-flowforecastingsmall-business

15 май 2026 г.

Accountable Plans: How to Reimburse Owners and Employees Tax-Free

An accountable plan lets an S corporation reimburse owners and employees for mileage, home office, and supplies tax-free under Treasury Regulation 1.62-2. It requires three things—business connection, substantiation within 60 days, and return of excess within 120 days—and replaces the employee expense deduction the Tax Cuts and Jobs Act eliminated.

mike

taxtax-deductionss-corp

15 май 2026 г.

Allowance for Doubtful Accounts: Keep Accounts Receivable Honest

The allowance for doubtful accounts estimates how much of your receivables won't be collected. This guide covers the percentage-of-sales and aging methods, the three journal entries, and the mistakes that distort financial statements.

mike

accounts-receivablebad-debtaccounting-basics

15 май 2026 г.

ASC 815 Hedge Accounting for Private Companies: Document Swaps and Forwards Without Wrecking Earnings

ASC 815 requires derivatives to be marked to market through earnings unless you elect hedge accounting at inception. A guide to the three hedge models, the simplified approach for private companies, and the documentation mistakes that turn a clean economic hedge into quarterly earnings volatility.

mike

accountingfinancial-reportingrisk-management

15 май 2026 г.

Asset Retirement Obligations Under ASC 410: How Operators Record the Future Cost of Restoring a Site at Day One

ASC 410-20 requires recognizing an asset retirement obligation on day one — the day the well is drilled, the tower is erected, or the leasehold build-out is finished. A walkthrough of triggers, fair-value measurement using the credit-adjusted risk-free rate, annual accretion as operating expense, the lease-vs-ARO boundary under ASC 842, and the journal entries operators in oil and gas, telecom, and retail most often get wrong.

mike

accountingliabilityfixed-assets

15 май 2026 г.

Bank Reconciliation Done Right: The Monthly Process That Catches Errors and Fraud Early

A monthly bank reconciliation done in 30 to 90 minutes is the cheapest fraud control a small business has. This guide walks through the two-column worksheet, how to handle outstanding checks and deposits in transit, the recurring items that trip people up, and the internal controls that turn the exercise into real protection.

mike

reconciliationsmall-businessfraud-detection

15 май 2026 г.

Break-Even Analysis: How Many Units Must a Small Business Sell to Profit?

Break-even point in units equals total fixed costs divided by contribution margin per unit. This guide shows how to separate fixed and variable costs, compute contribution margin, find your break-even sales volume, and measure margin of safety.

mike

small-businessprofitabilityprofit-margins

15 май 2026 г.

Break-Even Analysis and Contribution Margin: The Formula Every Small Business Should Run Monthly

A working guide to break-even analysis covering the contribution margin formula, multi-product weighted approach, margin of safety thresholds, and four pricing scenarios — with a candle-maker example showing why a 10% price cut can erase 25% of unit profit.

mike

small-businesspricing-strategiesprofit-margins

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