Blog

Plain-text accounting insights, tutorials, and updates from the Beancount.io team.

July 10, 20269 min read

Self-Storage Cost Segregation and 100% Bonus Depreciation: A 2026 Owner's Guide

Cost segregation studies routinely move 16–24% of a self-storage facility's purchase price off the 39-year schedule into 5- and 15-year property. With 100% bonus depreciation permanently restored by the OBBBA for property placed in service after January 19, 2025, a $1 million acquisition can produce roughly $200,000 in first-year deductions — about $74,000 in tax savings at a 37% rate. Here's how the studies work, what they cost, and the recapture math to run before selling.

Mike Thrift

cost-segregationbonus-depreciationdepreciation

July 10, 20266 min read

Section 125 Cafeteria Plan Nondiscrimination Testing: A 2026 Guide for Small Businesses

Section 125 cafeteria plans must pass three IRS nondiscrimination tests each year — eligibility, benefits and contributions, and the 25% key employee concentration test. This guide covers the 2026 thresholds ($220,000 officer and $160,000 HCI compensation, $3,400 FSA and $7,500 DCAP limits), what a failed test costs your top earners, and when a Simple Cafeteria Plan under Section 125(j) lets employers with 100 or fewer employees skip testing entirely.

Mike Thrift

tax-compliancepayrollemployee-benefits

July 10, 20268 min read

Scrap Metal Recycling Center Bookkeeping: Cash Purchases, Seller IDs, and Form 8300 Compliance

Forty-five states require scrap yards to keep seller-ID records, cash caps run as low as $30 (Washington), and IRS Form 8300 is due within 15 days on cash over $10,000. A practical guide to building a purchase ledger that survives police, state regulator, and IRS scrutiny.

Mike Thrift

bookkeepingsmall-businesscompliance

July 10, 20269 min read

SBA 7(a) and 504 Loan Eligibility in 2026: New Citizenship Rules and the End of SBSS Credit Scoring

Effective March 1, 2026, SBA 7(a) and 504 loans require 100% of direct and indirect owners to be U.S. citizens or nationals with a U.S. principal residence — green card holders no longer qualify — and the FICO SBSS score is retired in favor of a 1.10 minimum debt service coverage ratio and full commercial credit analysis. Here's who's affected and how to prepare.

Mike Thrift

sbasba-loanssmall-business-loans

July 10, 20267 min read

San Francisco's Commercial Vacancy Tax: Filing Rules, Rates, and Exemptions for Storefront Owners

San Francisco's Commercial Vacancy Tax charges $250 to $1,000 per linear foot of street frontage for ground-floor storefronts vacant more than 182 days a year in named neighborhood commercial districts. Every owner and tenant of a covered space must file an annual return even if fully occupied — and the separate $1,850 DBI vacant storefront registration is a second obligation entirely.

Mike Thrift

tax-compliancereal-estateproperty-management

July 10, 20268 min read

Revenue-Based Financing: How to Trade a Slice of Future Sales for Growth Capital Without Giving Up Equity

Revenue-based financing repays a lender 2-8% of monthly revenue until a 1.2x-3x cap is reached, typically costing 20-50% effective APR versus 40-300%+ for merchant cash advances, with no equity or collateral required.

Mike Thrift

revenue-based-financingmerchant-cash-advancefinancing

July 10, 20267 min read

The New 1% Remittance Tax: What Small Business Owners Sending Money Abroad Need to Know

A 1% federal excise tax applies to cash-funded international money transfers starting January 1, 2026, but bank, debit, and credit card transfers are exempt — here's how small businesses can avoid it.

Mike Thrift

small-businesstax-complianceinternational-tax

July 10, 20268 min read

Print-on-Demand Bookkeeping: COGS, Fulfillment Fees, and Sales Tax Nexus Explained

Print-on-demand sellers who are merchants of record (Shopify with Printful or Printify) owe sales tax themselves and can deduct real COGS, while royalty-based marketplace sellers (Redbubble, Amazon Merch, Etsy) owe no sales tax because the platform is a marketplace facilitator and have no deductible COGS at all.

Mike Thrift

cost-of-goods-soldsales-taxnexus

July 10, 20269 min read

Powerboat and Pontoon Rental Bookkeeping: Schedule C, Depreciation, and Seasonal Cash Flow

Powerboat and pontoon rental income is reported on Schedule C, not Schedule E, which subjects net profit to the full 15.3% self-employment tax — a distinction that shapes how these seasonal businesses should handle depreciation, off-season cash reserves, and an eventual S-corp election.

Mike Thrift

bookkeepingsmall-businesscash-flow

July 10, 202610 min read

Portable Benefits for Independent Contractors: A Guide to the New State Laws

Utah, Alabama, Tennessee, Georgia, and West Virginia now let businesses contribute to an independent contractor's portable benefit account without that contribution counting as evidence of employment. How the state safe harbors work, what Utah's 50% tax credit (up to $2,000 per contractor) covers, and how to track contributions in your books.

Mike Thrift

independent-contractoremployee-benefitsfreelance

July 10, 20267 min read

Portable Benefits for Gig Workers: What the New State Laws Actually Do in 2026

Utah, Tennessee, Alabama, Georgia, and West Virginia have passed portable benefits laws letting businesses fund contractor health, retirement, or PTO accounts without that contribution counting as evidence of misclassification under state law — but the safe harbor is state-only and doesn't touch federal IRS or DOL tests.

Mike Thrift

self-employmentfreelancehealthcare

July 10, 20268 min read

Podcast Sponsorship Bookkeeping: When to Recognize Revenue and How to Track It

Podcast sponsorship revenue should be recognized when a host-read ad airs, not when the invoice is paid, and creators must reconcile gross Patreon 1099-Ks against net ad-network payouts to avoid over- or under-reporting taxable income.

Mike Thrift

podcastingcreative-industriesrevenue-recognition

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