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Contracts

Client contracts, scope of work agreements, and legal documentation for service businesses

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18 min read

The FDCPA Won't Help You Collect That Unpaid Invoice: A Small Business Owner's B2B Collection Playbook

The Fair Debt Collection Practices Act covers consumer debt collected by third parties, so it does not govern a business chasing its own overdue B2B invoices — contract law, UCC Article 2, and state unfair-practice statutes do. This guide explains the two FDCPA tests most commercial receivables fail, and gives a five-step recovery sequence from contract clauses and a follow-up cadence through demand letter, small claims or a 15–40% contingency agency, and judgment enforcement.

Mike Thrift

accounts-receivablecollections-managementcash-flow
5 min read

New York's Freelance Isn't Free Act: What the $528,817 Splashlight Settlement Means for Businesses That Hire Freelancers

New York's DCWP fined production company Splashlight $528,817 for paying fewer than 1 in 5 freelance contracts on time. Here's what the Freelance Isn't Free Act requires — written contracts for work over $800, payment within 30 days, six years of records — and how similar laws in Illinois and California now apply nationwide.

Mike Thrift

freelancecompliancelegal
8 min read

Bookkeeping for Professional Puppet Makers: Pricing Commissions, Deposits, and Design Rights

Custom puppets sell for $500–$1,500 yet take 20–100 hours to build, so untracked labor quietly destroys margins. How professional puppet makers should price commissions with the materials + labor + overhead + profit formula, book 50% deposits as deferred revenue instead of income, separate design-licensing from fabrication revenue, and handle post-Wayfair sales tax on interstate theater clients.

Mike Thrift

bookkeepingcreative-industriessmall-business
8 min read

Craft Malting House Bookkeeping: Grain Inventory That Shrinks, Contract Growing, and a Year-Long Cash Cycle

Craft maltsters lose 10–20% of raw barley weight during steeping, germination, and kilning, pay farmers 3–4× feed-grain prices under multi-season contracts, and can wait over a year between buying grain and selling malt. Here's how to handle yield-ratio costing, contract-growing arrangements, and working-capital planning for a malthouse.

Mike Thrift

bookkeepingsmall-businessinventory
8 min read

Letter of Intent for a Small Business Sale: What's Binding, What's Negotiable, and What Kills Deals

Most letters of intent are labeled non-binding, but exclusivity, confidentiality, and break-up-fee clauses inside them are typically enforceable. This guide covers LOI terms in sub-$10M business sales — asset vs. stock structure, 30–90 day exclusivity windows, working capital true-ups, price allocation, and the mistakes that cost sellers deals.

Mike Thrift

business-acquisitionbuying-a-businessmergers-and-acquisitions
8 min read

Georgia's SB 69 Litigation Funding Law: NMLS Registration, the $25,000 Discovery Rule, and What Small Businesses Should Check Before Signing

Georgia's SB 69, effective January 1, 2026, requires litigation funders to register with the Department of Banking and Finance via NMLS, makes funding agreements of $25,000 or more discoverable, caps funder fees at net recovery, and bars foreign-adversary funding. Here's what small business owners should verify before accepting a litigation funding offer.

Mike Thrift

legalsmall-businesscompliance
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