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Insurance

Track insurance costs, premiums, and coverage details

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16 минути четене

Computer and Smartphone Repair Shop Bookkeeping: The Hidden Liabilities Behind Every Cracked Screen

An operator's guide to bookkeeping for independent computer and smartphone repair shops in 2026 — separating per-ticket labor from parts revenue, treating customer devices as bailee property, recognizing deposits under ASC 606, applying Section 179 to bench equipment, complying with the new Washington and Colorado right-to-repair laws, and reconciling RepairShopr or CellSmart POS to the general ledger.

Mike Thrift

bookkeepingsmall-businessrevenue-recognition
15 минути четене

Real Estate Brokerage Bookkeeping in 2026: GCI, Agent Caps, Trust Accounts, and RESPA Compliance

How independent real estate brokerages should set up their chart of accounts in 2026 — separating GCI, agent splits, and franchise royalties into contra-revenue, running three-way trust-account reconciliations, documenting 1099-NEC payouts under IRC Section 3508, defending RESPA Section 8 entries, and accruing E&O self-insured retention reserves so company dollar, audit readiness, and Section 199A QBI all stay visible.

Mike Thrift

real-estatebookkeepingfranchise-bookkeeping
16 минути четене

Mobile Pet Grooming Business Bookkeeping: The Per-Stop Profit Playbook for Van-Based Groomers

A working bookkeeping playbook for mobile pet grooming operators — how to track per-stop revenue and route time, apply Section 179 and bonus depreciation to a built-out cargo van, allocate generator fuel and consumables, reserve for care-custody-control exposure, and use the KPIs that predict whether a route is sustainable.

Mike Thrift

bookkeepingsmall-businesssection-179
20 минути четене

Roofing Contractor Bookkeeping for Storm Restoration: ACV, RCV, Mortgage-Endorsed Checks, Supplements, and Warranty Reserves

A working guide to bookkeeping for storm-restoration roofers — splitting insurance and retail revenue, tracking ACV and recoverable-depreciation receivables, modeling mortgage-endorsement float, booking supplements as scope adjustments rather than new sales, accruing 1–3 percent workmanship warranty reserves, and applying Section 179 to trucks, dumpsters, and tear-off equipment.

Mike Thrift

constructionjob-costingbookkeeping
12 минути четене

Section 1033 Involuntary Conversion: A Non-Farm Business Guide to Deferring Gain on Property Destroyed, Stolen, or Condemned

Section 1033 lets non-farm businesses defer gain on property that is destroyed, stolen, or condemned if the proceeds are reinvested in qualifying replacement property within 2, 3, or 4 years. This guide covers the election mechanics on Form 4797, the similar-or-related-in-service-or-use vs. like-kind tests, the carryover-basis recapture trap, and the bookkeeping needed to survive an IRS look-back.

Mike Thrift

taxtax-planningtax-compliance
16 минути четене

Surviving the Workers' Comp Premium Audit: A Small Employer's Field Guide to NCCI Class Codes, Officer Elections, Overtime Carve-Outs, and Subcontractor Traps

Workers' compensation premium is recalculated every year using your actual payroll, and unprepared small employers routinely owe five-figure true-ups. This guide walks through the NCCI premium formula, the standard exception rules, the overtime carve-out math, owner and officer exclusion forms, the subcontractor COI rules that trigger the largest audit hits, and how to dispute a Final Audit Statement.

Mike Thrift

small-businessauditpayroll
13 минути четене

Schedule F: Farm Tax Reporting, Disaster Deferrals, and Income Averaging Explained

A practical walkthrough of Schedule F for farmers and ranchers, covering crop insurance deferral under Section 451, weather-related livestock relief (Section 451(g) and 1033(e)), Section 175 soil and water conservation deductions capped at 25% of farm gross income, Section 179 and bonus depreciation, and Schedule J income averaging using elected farm income across three base years.

Mike Thrift

schedule-ftax-planningself-employment-tax
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