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Bookkeeping

Modern bookkeeping techniques using plain-text and automated workflows

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11 min read

Filed Early and Found a Mistake? How a Superseding Return Replaces Your Original Before the Deadline

A superseding return is a complete second return filed before the deadline (including extensions) that legally replaces your original, unlike a Form 1040-X amendment filed after it. It preserves elections reserved for original returns and can stop interest and penalties — but when filed during an extension period it does not reset the three-year assessment or refund clocks, which run from the first valid return.

Mike Thrift

taxtax-filingtax-deadlines
11 min read

Delaware's 4.5% Short-Term Rental Lodging Tax: A Host's Guide to the License and Monthly Filing

Delaware taxes short-term rental stays at 4.5% of rent for agreements entered on or after January 1, 2025. Who collects depends on the booking channel — platforms remit for platform bookings, but direct-booking hosts need the $25 accommodations intermediary license and must file monthly by the 15th, even for zero-income periods. Cleaning fees, linens, and deposits are excluded from the tax base.

Mike Thrift

tax-compliancereal-estateproperty-management
10 min read

Georgia Rewrote Its Specialty Contractor Licensing Law: What Your Shop Must Fix Before the Next Job

Georgia's SB 553 (Act 472) rewrote Chapter 14 contractor licensing effective July 1, 2026 — one year of experience now means 2,000 documented hours, license lending is explicit grounds for discipline, and advertising regulated trade services without a license counts as evidence of unlicensed practice. A record-keeping checklist for electrical, plumbing, HVAC, low-voltage, and utility shops.

Mike Thrift

licensespermitscompliance
10 min read

Your Card Processor Just Got Bought for $24 Billion — Here's What to Check on Your Next Statement

Global Payments closed its $24.25 billion Worldpay acquisition in January 2026, and processor mergers routinely bring migration fees, contract reassignments, and quiet rate creep. Learn how to compute your effective rate (total fees ÷ card volume), the seven statement lines where costs hide, and a 15-minute quarterly audit that flags overpaying above 3%.

Mike Thrift

paymentssmall-businessexpense-management
13 min read

Independent Hardware Store Bookkeeping: Taming 30,000 SKUs, Co-op Patronage Dividends, and the Seasonal Cash Cycle

How independent hardware stores handle bookkeeping most retailers never face — recording co-op patronage dividends from Form 1099-PATR (taxable in full even when paid partly in paper), managing 20,000–35,000 SKUs with ABC analysis and GMROI, running contractor charge accounts, and forecasting the spring-to-winter cash cycle with a rolling 13-week model.

Mike Thrift

bookkeepingsmall-businessinventory
10 min read

Medical Spa Bookkeeping: Why Your MSO/PC Split, Membership Revenue, and Injectable Inventory Need Their Own Books

Med spas that book prepaid packages as day-one revenue, expense injectables on purchase, or run the MSO and PC through one bank account produce financials that fail audits and due diligence. This guide covers keeping separate books per entity with reconciled intercompany balances, recognizing package and membership cash as deferred revenue per delivered session, capitalizing neurotoxin and filler as inventory until use, and a monthly close checklist that ties POS unearned balances, physical counts, and management fees to the ledger.

Mike Thrift

healthcarebookkeepingrevenue-recognition
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