#bookkeeping
Modern bookkeeping techniques using plain-text and automated workflows
A suspense account is a temporary ledger account that holds an unidentified transaction or an unexplained trial-balance difference so the month-end close can finish on time. This guide covers when to use one, how to record and clear the entries, and how it differs from a clearing account.
Texas raised the franchise tax no-tax-due threshold to $2.65 million for 2026 and 2027 reports, but LLCs and corporations still owe a Public Information Report by May 15. Missing it triggers forfeiture, personal liability for officers, and loss of access to Texas courts.
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.
A practitioner's walkthrough of Circular 230—Sections 10.22, 10.29, 10.34, 10.36, 10.37, and 10.51—covering conflicts of interest, return-position standards, written-advice hygiene, and how OPR investigations actually proceed.
Economic nexus requires out-of-state sellers to collect sales tax once they cross a state's threshold — commonly $100,000 in sales. As of January 1, 2026, 16 states have dropped the 200-transaction trigger, and this guide explains the thresholds, marketplace facilitator traps, and a quarterly compliance routine.
OBBBA's new Section 174A restores immediate expensing for domestic R&D in tax years after December 31, 2024, and qualifying small businesses can amend 2022–2024 returns by July 6, 2026 to recover overpaid tax. A guide to the three coexisting Section 174 regimes, the Section 41 credit add-back, foreign 15-year amortization, and the statement in lieu of Form 3115.
A working guide to Section 274's four meal deduction rates—100%, 80%, 50%, and zero—and the 2026 Section 274(o) cliff that ended the employer deduction for breakroom snacks, catered office lunches, and convenience-of-employer meals.
For tax year 2026, businesses with a three-year average of gross receipts at or below $32 million can elect Section 471(c) to skip UNICAP, treat inventory as non-incidental materials and supplies, and file Form 3115 — often producing a one-time Section 481(a) deduction in the year of change.
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.
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.
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.
The allowance for doubtful accounts estimates uncollectible receivables. Learn the aging and percentage-of-sales methods, plus how write-offs keep accounts
