Schedule M-1 and M-3 reconcile a corporation's GAAP book income to taxable income. This guide explains the $10M and $50M asset thresholds, permanent versus temporary differences, and the recurring reconciling items — depreciation, meals, federal tax expense, bad debt reserves, and stock-based compensation — that draw IRS scrutiny.
A six-week framework for small business owners to catch up unreconciled books, assemble a standardized year-end financial package, and hand off cleanly to an accountant—anchored by the 2026 federal filing deadlines.
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.
Nearly 80% of small business loan applications are rejected on first submission — not because the business is weak, but because the owner wasn't prepared. This guide covers the Five Cs of Credit, DSCR calculation, required documentation, loan type selection, and the common mistakes that sink applications before they start.
The double declining balance (DDB) method front-loads depreciation deductions, letting businesses write off more in the early years when assets lose value fastest — with a step-by-step formula, worked example, and comparison to straight-line depreciation.
Your income statement reveals whether your business model actually works—not just whether the bank balance is positive. Learn every line item from revenue to net income, how to calculate all three profit margins, and how to spot cost trends before they compound.
Historical bookkeeping (catch-up bookkeeping) reconstructs unrecorded financial transactions from past periods. Learn when businesses need it, how IRS rules apply, and a step-by-step approach to getting your books current without losing deductions or facing penalties.
A practical guide to reading income statements, balance sheets, and expense trend reports as monthly decision-making tools—with specific ratios to track, red flags to catch, and concrete actions to take before problems compound.
A bookkeeper records and organizes daily financial transactions—sales, payroll, bank reconciliations, and financial statements. Learn what bookkeepers actually do, how they differ from accountants, and when your business needs one.
A line-by-line breakdown of the income statement for small business owners — covering revenue, COGS, gross profit, operating income, and net income, plus key ratios and the five most common mistakes that distort results.
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