#small-business
Small Business
Financial management strategies and tools for small business owners
When Your Contract Doesn't Fix a Price, Who Decides What You Get Paid?
Under UCC § 2-305, a contract with no agreed price can still bind both parties — courts fill the gap with a "reasonable price at the time for delivery," measured by market rates, course of dealing, and trade usage. Here's how open price terms work, why 2026's tariff-driven cost volatility makes them more common, and how to draft, document, and invoice around them.
Virginia HB 238: The Three-Year Pay Stub Retention Rule Now Binding Every Employer
Virginia's HB 238, effective July 1, 2026, requires every employer to retain pay statements for at least three years, presumes workers are employees unless the IRS contractor test is met, and imposes treble damages for knowing wage violations. Here is what changed in Va. Code § 40.1-29 and a retention checklist that also covers federal FLSA, IRS, and public-works rules.
Workers' Comp Premium Audits: Which Payroll Records Prevent a Surprise Bill?
A workers' comp premium audit reconciles your estimated payroll against actual payroll, job classification codes, and subcontractor payments. Missing a subcontractor's certificate of insurance can add the entire contract amount to your auditable payroll — plus a 25–50% non-compliance surcharge. Here are the records to keep monthly, and the 30–60 day dispute window to know.
1031 Like-Kind Exchanges: How Small-Business Owners Defer Capital Gains on Real Estate
A Section 1031 like-kind exchange lets you defer capital gains tax when selling business or investment real estate — but only real property qualifies since 2018, a qualified intermediary must hold the proceeds, and two hard deadlines (45 days to identify, 180 days to close) allow no extensions. Here's how the rules, boot traps, and 2025 bonus depreciation interplay actually work.
Bookkeeping for Ammunition Reloading Supply Shops: Component Sales, FAET, and Lot-Level Inventory
A reloading supply shop that only sells bullets, brass, primers, and powder owes no federal ammunition excise tax — but loading and selling finished ammunition triggers an 11% FAET liability filed quarterly on TTB Form 5300.26. This guide covers the chart of accounts, lot-number FIFO inventory tracking, and hazmat freight costing that keep a component retailer or hybrid manufacturer compliant.
Bookkeeping for Antiquarian Booksellers: Why Rare Books Need Specific-Identification Inventory
Average-cost and FIFO inventory methods misstate margins when every item is unique. How antiquarian booksellers use specific-identification inventory — per-copy cost basis, proportional lot allocation, condition-driven write-downs, and provenance records — to keep accurate books on one-of-a-kind stock.
Asset-Based Lending and Inventory Financing: Turning What You Own Into Working Capital
How asset-based lending converts inventory and receivables into working capital — receivables typically earn 80–85% advance rates while inventory gets 50–80%, and your available credit moves with a weekly or monthly borrowing base calculation. Costs, qualification requirements, and how ABL compares to term loans, inventory-only financing, and equity.
Auto Salvage and Scrap Metal Bookkeeping: Costing Inventory That Splits Into Five Products
How auto salvage yards and scrap metal recyclers should structure inventory accounting when one purchased vehicle splits into parts, high-value scrap, and bulk ferrous metal sold at different times and prices.
Avalara vs. TaxJar in 2026: Which Sales Tax Automation Tool Fits Your Business?
Avalara suits multi-jurisdictional and international sellers but hides pricing and dropped its small-business returns program in 2024; TaxJar publishes plans but doubled its Starter tier to $39/month in 2026 with $50–55 AutoFile fees. Here's how to choose based on your nexus footprint, growth plans, and total filing costs.
Bill-and-Hold Arrangements Under ASC 606: When You Can (and Can't) Recognize Revenue on Goods a Customer Hasn't Picked Up Yet
ASC 606 permits revenue recognition on bill-and-hold arrangements only when four criteria are all met — a substantive reason for the delay, goods segregated for the customer, readiness for immediate transfer, and no seller right to redirect them. This guide walks through each test, a worked allocation example splitting goods revenue from a separate storage obligation, legitimate use cases, and the seller-initiated-delay red flag that draws SEC scrutiny.
Business Credit Card Sign-Up Bonuses Are Worth Up to $2,000 in 2026 — Here's How to Collect Yours Without Wrecking Your Books
Business credit card welcome offers now reach $2,000 cash or 200,000 points, with minimum spends of $3,000–$30,000 in three months. How to match a bonus to your real quarterly spend, understand the personal guarantee, and avoid the commingling mistakes that turn a bonus into an audit risk.
California's SB 525 Health Care Minimum Wage: July 2026 Rates, Tiers, and the Exempt-Salary Trap
California's SB 525 raised health care worker minimum wages to $22, $23, or $25 per hour on July 1, 2026, depending on facility tier — and pushed exempt salary floors as high as $78,000. Here's who is covered, the rate for each tier, and how to budget payroll facility by facility.