Drop shipping creates two simultaneous taxable sales per order — knowing when physical and economic nexus applies, how resale certificates prevent double taxation, and which 10 states reject out-of-state certificates keeps your business compliant.
Federal excise taxes apply to specific goods—fuel, alcohol, tobacco, firearms, and more—and fall on the seller, not the consumer. Learn which businesses owe excise tax, how to calculate it using per-unit or ad valorem methods, and how to file IRS Form 720 quarterly.
US businesses hiring foreign contractors must collect W-8BEN or W-8BEN-E before making any payment—or face mandatory 30% backup withholding. This guide covers IRS requirements, permanent establishment risk, payment methods, and documentation best practices.
A practical guide to sales tax for small business owners — understand physical and economic nexus, apply the correct rate across 10,000+ U.S. jurisdictions, and avoid the penalties that catch most growing businesses off guard.
Law firm bookkeeping carries compliance risks most attorneys aren't trained for — a misplaced retainer can trigger bar discipline or disbarment. This guide covers IOLTA trust accounts, three-way reconciliation, retainer handling, contingency fees, and software options for legal practices.
Learn the key differences between cash and accrual accounting, the pros and cons of each method, IRS requirements for 2026, and how to choose the right accounting method for your small business.
Learn what expense reports are, how to create one, the three main types of expense reports, IRS-aligned expense categories, best practices for receipt management, and how to prevent expense fraud in your business.
Learn what an expense report is, how to create one step by step, the three main template types (one-time, recurring, and long-term), common mistakes to avoid, and best practices for IRS-compliant expense tracking.
Learn what FASB (Financial Accounting Standards Board) is, how it sets U.S. accounting standards (GAAP), its standard-setting process, key standards like ASC 606 and ASC 842, and why it matters for small and private businesses.
Learn how to handle foreign currency accounting for your small business, including exchange rate rules, recording FX gains and losses, hedging strategies, and setting up multi-currency bookkeeping under GAAP.
Take control of your finances with our open-source double-entry accounting system. Start your ledger today.
© 2019 - 2026 Beancount.io
