#bookkeeping
Modern bookkeeping techniques using plain-text and automated workflows
ASC 718 requires startups to recognize the grant-date fair value of equity awards as compensation expense over the vesting period, even when no cash changes hands. This guide covers measurement, recognition, forfeitures, modifications, disclosures, and the audit pitfalls that derail funding rounds.
How small businesses record foreign exchange gains and losses under US GAAP (ASC 830) and IRC Section 988, with sample journal entries, realized vs. unrealized treatment, period-end revaluation, and a practical monthly close workflow.
How state income tax really works for remote employees who cross state lines: the convenience-of-the-employer rule used by seven states (including New York), which reciprocity agreements eliminate double taxation, day-counting evidence auditors accept, and the bookkeeping habits that keep multi-state returns predictable.
ASC 350-40 governs which software development costs SaaS companies expense and which they capitalize as intangible assets. ASU 2025-06 retires the three-stage model in favor of a probable-to-complete threshold, with the FASB signaling more costs will be expensed. This guide covers what qualifies, the EBITDA and balance-sheet impact, and how to set up an audit-defensible process.
A walkthrough of the IRS's four core tax debt relief programs — installment agreements, Offer in Compromise, Currently Not Collectible status, and penalty abatement — including the 2026 shift to automatic first-time abatement, the 21% OIC acceptance rate from the 2024 IRS Data Book, and how to spot Offer in Compromise mills flagged on the IRS Dirty Dozen list.
Net operating losses generated after 2021 carry forward indefinitely but can offset only 80% of future taxable income. This guide covers the calculation, the Section 461(l) excess business loss limit, Form 1045 vs. 1040-X, and the bookkeeping practices that keep an NOL defensible years later.
Section 41 lets qualified small businesses offset up to $500,000 of annual payroll taxes with the federal R&D credit. This guide covers the four-part qualification test, qualifying wages and cloud spend, the QSB election on Form 6765, and what OBBBA changed for 2025 and 2026 filings.
A category-by-category comparison of the five real tax solutions small businesses use in 2026 — DIY software, professional-grade platforms, hybrid bookkeeping subscriptions, local CPAs, and in-person chains — with price ranges, fit criteria, and signs you've outgrown your current setup.
A step-by-step walkthrough of business tax filing by entity type — Schedule C for sole props, Form 1065 for partnerships, 1120-S for S-corps, and 1120 for C-corps — with 2026 deadlines, document checklists, audit triggers, and when DIY software stops being enough.
A walk through five tax-court rulings — Seacat's cat food, Wheir's body oil, ABBA's costumes, the Hess implants case, and Capone-style evasion — and the documentation, commingling, and "ordinary and necessary" rules they expose for small business owners.
A decision framework for choosing between DIY bookkeeping software, professional services, and plain-text accounting—with concrete pricing benchmarks ($15–$800/month), transaction-volume thresholds, and the seven mistakes that drive cleanup costs.
A 2026 guide to the five legitimate IRS resolution programs—installment agreements, Offer in Compromise, Currently Not Collectible status, penalty abatement, and innocent spouse relief—plus the warning signs of OIC mill scams and the step-by-step process from a CP14 notice to a working agreement.
