#bookkeeping
Bookkeeping
Modern bookkeeping techniques using plain-text and automated workflows
Social Security Tax Explained: A Complete Guide for Employees, Employers, and the Self-Employed
A 2026 reference for Social Security tax: the 6.2% employee and employer rate, the $184,500 wage base, the 15.3% self-employment rate with its 92.35% adjustment, Form 941 deposit rules, and the six mistakes that most often trigger IRS payroll penalties against small businesses.
SUTA Tax Explained: The Complete Employer's Guide to State Unemployment Tax
SUTA is the state-level payroll tax that funds unemployment insurance. Every U.S. employer owes it, rates range from under 1% to over 10%, and late payments can cost the 5.4% FUTA credit — turning a $42 federal bill into $420 per employee.
UCC Filings Explained: How Stale Liens Block Your Next Business Loan
A UCC-1 financing statement lasts five years and can block future financing if a lender forgets to file a UCC-3 termination after payoff. This guide covers specific vs. blanket liens, how to search your state's records, and how to force a termination under Article 9.
The Wayfair Law Explained: How Economic Nexus Changed Sales Tax for Online Sellers
Since the 2018 South Dakota v. Wayfair ruling, 46 states can require out-of-state sellers to collect sales tax once they cross economic nexus thresholds — typically $100,000 in annual sales. This guide covers 2026 thresholds, marketplace facilitator rules, and a seven-step compliance playbook.
What Is Franchise Tax? A State-by-State Guide for Business Owners
Franchise tax is a state privilege tax owed regardless of profit. Sixteen states plus D.C. charge it, with rates from a flat $300 in Delaware to $800 minimums in California and a 0.75% margin tax in Texas.
DIY Bookkeeping vs. Professional Services: Which Is Right for Your Business?
A cost-benefit breakdown of DIY bookkeeping versus professional bookkeeping services—covering real time costs, hidden risks, and a four-question decision framework for small business owners.
EIDL Loan Recordkeeping Requirements: What Small Businesses Must Know
EIDL borrowers must maintain records for decades—five years current plus three years after final payoff. This guide covers which documents to keep, SBA audit powers, approved fund uses, and how to build an audit-ready bookkeeping system.
Form 940: The Complete Guide to Employer's Annual Federal Unemployment Tax Return
Form 940 is the IRS return employers use to report annual FUTA tax liability—6% on the first $7,000 of each employee's wages, reducible to 0.6% with timely state unemployment tax payments. Covers who must file, quarterly deposit thresholds, how to claim the state tax credit, Schedule A for multi-state employers, and penalties for late filing.
Form 941: The Complete Guide for Employers
Form 941 is the quarterly payroll tax return every employer must file—reporting withheld income tax, Social Security, and Medicare. Covers who files, 2026 deadlines, how to complete each section, penalty rates (up to 15% for late deposits), and the $100,000 next-day deposit rule.
How Far Back Can the IRS Audit You? The Complete Guide to Audit Statutes of Limitations
The IRS has 3 years to audit most returns, 6 years if you omit 25%+ of gross income, and unlimited time for fraud or unfiled returns — here's what each window means for your record-keeping strategy and audit risk.
How to File Taxes Late: What to Do When You've Missed the Deadline
A step-by-step guide to filing a late federal tax return—what failure-to-file and failure-to-pay penalties actually cost, how to set up an IRS payment plan, and how to request First-Time Penalty Abatement to eliminate hundreds of dollars in penalties.
How to Pay Small Business Taxes: A Complete Guide
A practical guide to small business taxes covering income tax, self-employment tax (15.3%), payroll taxes, 2026 quarterly estimated payment deadlines, IRS payment methods, and strategies to reduce your tax burden.