#fixed-assets

Fixed Assets

Accounting for long-term tangible assets including equipment, vehicles, furniture, and property

July 9, 20269 min read

EV Charging Station Bookkeeping: The Real Math Behind Per-kWh Margins, Demand Charges, and Payback Period

Demand charges can account for 30–70% of a commercial electricity bill and add roughly $9,000 to a single month when six DC fast chargers peak simultaneously — yet most operators blend them into one utilities account. How to book charging revenue against per-kWh COGS, track the Section 30C credit that now sunsets June 30, 2026, and model realistic payback periods for Level 2 ($4,500–$12,000/port) and DC fast chargers ($90,000–$200,000/port).

Mike Thrift

bookkeepingsmall-businesstax-credits

June 4, 202611 min read

Section 280F Luxury Auto Caps Meet 100% Bonus Depreciation: A 2026 Vehicle Tax Playbook for Small Business Owners

Section 280F caps 2026 first-year passenger auto depreciation at $20,300 with bonus, while heavy SUVs over 6,000 lb GVWR can deduct the full purchase price via the $31,300 Section 179 cap plus 100% bonus depreciation restored under OBBBA. This guide covers the math, the listed-property substantiation rules, and the recapture trap that catches owners whose business use drops below 50%.

Mike Thrift

taxtax-planningdepreciation

June 3, 202612 min read

The Pilates Studio Owner's Bookkeeping Playbook: From Class Pack Breakage to Reformer ROI

A working framework for boutique pilates studios: applying ASC 606 to class packs and memberships, handling breakage and escheat, classifying instructors under the DOL 2024 rule and state ABC tests, accelerating reformer deductions via Section 179 and cost segregation, and tracking reformer-hour utilization and retention KPIs.

Mike Thrift

bookkeepingsmall-businessrevenue-recognition

May 19, 202612 min read

Section 1033 Involuntary Conversion: A Non-Farm Business Guide to Deferring Gain on Property Destroyed, Stolen, or Condemned

Section 1033 lets non-farm businesses defer gain on property that is destroyed, stolen, or condemned if the proceeds are reinvested in qualifying replacement property within 2, 3, or 4 years. This guide covers the election mechanics on Form 4797, the similar-or-related-in-service-or-use vs. like-kind tests, the carryover-basis recapture trap, and the bookkeeping needed to survive an IRS look-back.

Mike Thrift

taxtax-planningtax-compliance

May 19, 202612 min read

When Capital Gain Becomes Ordinary Income: Section 1239 and the Family Business Trap

Section 1239 converts capital gain to ordinary income on sales of depreciable property between related parties — including a controlling owner and their own corporation, partnership, or trust. The constructive ownership rules under Section 267(c) make the more-than-50% threshold easier to cross than family business owners expect.

Mike Thrift

taxtax-planningdepreciation

May 18, 202611 min read

Permanent 100% Bonus Depreciation Returns: How Small Businesses Stack Section 168(k), Section 179, and QIP in 2026

The One Big Beautiful Bill Act made 100% bonus depreciation under Section 168(k) permanent for qualified property placed in service after January 19, 2025. This guide explains how small businesses coordinate Section 179, qualified improvement property, and the new Section 168(n) manufacturing deduction — and the acquisition-date rules that decide eligibility.

Mike Thrift

bonus-depreciationsection-179depreciation

May 18, 202612 min read

Section 45W Commercial Clean Vehicle Credit: How Business Fleets Still Claim Up to $40,000 in 2026 After the OBBBA Cliff

Section 45W ended for vehicles acquired after September 30, 2025, but businesses with a binding contract and a payment by that date can still claim up to $7,500 for light EVs or $40,000 for heavy trucks in 2026 — here is how the credit is calculated, filed on Form 8936, and refunded as cash to tax-exempt fleets through elective pay.

Mike Thrift

tax-creditstax-compliancesmall-business

May 18, 202613 min read

Repair or Capitalize? A Plain-English Guide to the Section 263(a)-3 Tangible Property Rules for Small Businesses

How the IRS Section 263(a)-3 tangible property regulations decide what small businesses can deduct now versus capitalize over decades — with the three safe harbors ($2,500/$5,000 de minimis, the small taxpayer building rule, and routine maintenance), the BRA test, and the unit-of-property trap that drives most mistakes.

Mike Thrift

taxtax-deductionstax-planning

May 17, 202610 min read

Gain or Loss on Asset Disposal: Recording Sales, Scrapping, and Trade-Ins with Form 4797

A four-step pattern for recording the sale, scrap, or trade-in of business equipment—plus how Section 1245 depreciation recapture flows onto Form 4797 at tax time.

Mike Thrift

depreciationfixed-assetsjournal-entries

May 16, 202612 min read

Tangible Personal Property Tax: A Small Business Guide to TPP Returns, Freeport Exemptions, and Ghost Assets

A practical guide to the tangible personal property (TPP) tax that 38 U.S. states require small businesses to file every January, covering de minimis thresholds in 12 states, freeport inventory exemptions in 8 inventory-tax states, ghost-asset overpayment, and the annual asset-register workflow that keeps your bill honest.

Mike Thrift

taxtax-compliancesmall-business

May 16, 202615 min read

Qualified Improvement Property Under Section 168(e)(6): How Restaurant, Retail, and Office Build-Outs Unlock 15-Year Recovery and 100% Bonus Depreciation

Qualified Improvement Property (QIP) under Section 168(e)(6) lets nonresidential interior build-outs use a 15-year recovery period and qualify for 100% bonus depreciation after the OBBBA. Covers the statutory test, three exclusions, TCJA-to-OBBBA history, a worked $540,000 restaurant example, and Form 3115 catch-up deductions.

Mike Thrift

depreciationbonus-depreciationcost-segregation

May 15, 202613 min read

100% Bonus Depreciation Is Back: How Small Businesses Combine Section 168(k) and Section 179 in 2026 to Write Off Equipment the Year They Buy It

100% bonus depreciation under Section 168(k) is permanent again for property placed in service after January 19, 2025, and Section 179's 2026 limit is $2,560,000. This guide shows how small businesses combine both to deduct equipment the year it is bought, with a worked $1.2M example and the disqualification traps to avoid.

Mike Thrift

bonus-depreciationsection-179tax-planning

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