The MSA and the SOW, Explained for Freelancers and Agencies: What Goes in the Master Agreement vs. the Statement of Work
An MSA holds the relationship terms — payment, IP, liability — while each SOW defines one project's scope, milestones, and fees.
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Plain-text accounting insights, tutorials, and updates from the Beancount.io team.
Married Filing Separately vs. Jointly, Head of Household, and Surviving Spouse: A Small Business Owner's Guide to Filing Status
Joint IRS filing wins for most couples, but separate returns can cut loan payments and shield refunds — plus when head-of-household and surviving-spouse apply.
Listed Property, Explained: The Over-50% Business-Use Test, Mileage-Log Rules, and Section 280F Luxury-Car Limits
Vehicles and cameras lose accelerated depreciation unless business use tops 50% — and only a contemporaneous mileage log proves it. The tests, caps, and forms.
The Jock Tax, Explained: How Duty Days Decide What You Owe in Every State You Play
One road game in California can trigger a filing: duty days decide each state's slice of your pay, resident credits cap double tax, and travel logs win audits.
Can You Legally Run a Business From Home? Zoning Permits, HOA Rules, and the No-Impact Laws Changing the Answer
In a growing list of states, a no-impact home business needs no city permit — but HOA bans still bind you and taxes still apply.
Global Entry vs. TSA PreCheck vs. CLEAR: Which One Pays for Itself When You Fly for Work
Global Entry ($120/5 yrs) bundles PreCheck; CLEAR runs $200+/yr. Deduct the business share on Schedule C; employers reimburse tax-free via an accountable plan.
Form 5330, Explained: The Excise Taxes That Hit Retirement Plans After Prohibited Transactions and Nondeductible Contributions
Form 5330 reports excise taxes on retirement-plan failures: 15% on prohibited transactions, 10% on nondeductible contributions, until you correct them.
Form 1040-SR, Explained: The Large-Print Senior Tax Return, Who Can File It, and the 65-and-Older Standard Deduction Boost
Form 1040-SR is the large-print IRS return for filers 65 and older, with a built-in chart for the $2,000-plus senior standard deduction boost.
FloQast vs. BlackLine vs. Numeric: Which Month-End Close Platform Fits a Lean Team?
Numeric's $30/user/mo plan and AI-drafted flux commentary beat FloQast checklists for lean teams — unless matching volume forces BlackLine.
The Flat-Tax Wave: Which States Are Cutting or Eliminating Income Tax and What It Means for Business Owners
Eight US states adopted flat taxes since 2021, with more cuts for 2026 — pass-through owners should re-run estimates, PTET elections, and nexus exposure.
Equipment Financing Agreements (EFAs): Ownership From Day One, Fixed Payments, and Section 179 Deductions
An EFA is an installment sale — you own the equipment from day one, repay fixed payments with no stated interest rate, and deduct it under IRS Section 179.
Correspondence vs. Office vs. Field Audit: What Changes When Your IRS Exam Moves From Mail to In-Person
About 4 in 5 IRS audits are letters you answer by mail; office and field exams meet in person — and Section 7521 lets you record the interview.