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Mike Thrift

Marketing Manager

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The 30-Day Decision That Can Save Founders Millions: A Plain-English Guide to the Section 83(b) Election
·mike

The 30-Day Decision That Can Save Founders Millions: A Plain-English Guide to the Section 83(b) Election

A Section 83(b) election lets founders and early employees pay ordinary income tax today on the full value of restricted stock instead of at each vest. Filed within 30 days on IRS Form 15620, it can convert millions of phantom ordinary income into long-term capital gain and start the QSBS holding clock on day one.

tax
tax-planning
startup
Segregation of Duties With Three Employees: Preventing Embezzlement at Small Businesses
·mike

Segregation of Duties With Three Employees: Preventing Embezzlement at Small Businesses

The median fraud at a company with fewer than 100 employees costs $141,000. This guide explains how to apply segregation of duties — separating authorization, custody, recordkeeping, and reconciliation — and use compensating controls when you have only three employees.

small-business
fraud-prevention
fraud-detection
Solo 401(k) vs. SEP-IRA for the Self-Employed: 2026 Limits, the Roth Option, and the Pro-Rata Trap
·mike

Solo 401(k) vs. SEP-IRA for the Self-Employed: 2026 Limits, the Roth Option, and the Pro-Rata Trap

For the self-employed, a Solo 401(k) often shelters more than double what a SEP-IRA does at the same income — a $90,000 earner can contribute $47,000 vs. $22,500 in 2026. This guide covers the limits, the Roth option, the pro-rata rule, and the December 31 deferral deadline.

retirement-planning
self-employment
tax-planning
Step Transaction Doctrine: How the IRS Collapses Multi-Step Tax Plans
·mike

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.

tax-planning
tax-compliance
real-estate
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
·mike

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.

cooperatives
tax
tax-compliance
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
·mike

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.

bonus-depreciation
section-179
tax-planning
1099-K Threshold Whiplash: What Gig Workers and Online Sellers Need to Know for 2026
·mike

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.

tax
tax-compliance
irs-reporting
The 13-Week Cash Flow Forecast: A Survival Guide for Small Business Liquidity
·mike

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.

cash-flow
forecasting
small-business
Accountable Plans: How to Reimburse Owners and Employees Tax-Free
·mike

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.

tax
tax-deductions
s-corp
Allowance for Doubtful Accounts: Keep Accounts Receivable Honest
·mike

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.

accounts-receivable
bad-debt
accounting-basics
ASC 815 Hedge Accounting for Private Companies: Document Swaps and Forwards Without Wrecking Earnings
·mike

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.

accounting
financial-reporting
risk-management
Asset Retirement Obligations Under ASC 410: How Operators Record the Future Cost of Restoring a Site at Day One
·mike

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.

accounting
liability
fixed-assets
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