#recordkeeping
Business recordkeeping requirements, document retention periods, and audit-ready documentation practices
An 80% coinsurance clause pays $36,750 on a $50,000 loss when you carry $600,000 on a $1,000,000 building. Here is the math, and four ways to avoid it.
Most over-assessed owners who show up with evidence win a reduction: bring 3–5 comparable sales, your rent roll, and file before the Texas May 15 deadline.
Form 1098 Box 1 goes to Schedule E line 12 and Box 5 to line 9, but rental points must be amortized over the loan term — never expensed in year one.
Illinois HB 3773 took effect January 1, 2026 and covers employers with one employee — give AI notice, drop zip-code proxies, run four-fifths bias tests.
An IRS Form 4564 Information Document Request is a request, not a court order — answer only what's asked, keep a copy of everything, and ask for time early.
A mutual NDA binds both sides — and the residuals clause, the marking rules, and two separate clocks decide whether yours survives a dispute.
About a third of US giving lands in December. The IRS requires a written acknowledgment for gifts of $250 or more, and the postmark sets the gift's tax year.
CBP voids importer of record numbers immediately when Form 5106 data is inaccurate - no cure period. Verify your physical address, email, and phone now.
Chicago's lease transaction tax rose from 11% to 15% in 2026 — Illinois businesses now owe $150 a month in city tax on every $1,000 of SaaS.
IRS rules: gift cards to employees are cash equivalents, never de minimis — report face value as supplemental wages on Form W-2 with 22% withholding.
A one-employee Section 105 HRA lets a sole proprietor deduct the family's medical spend — premiums included — against income and self-employment tax.
Item L reports tax-basis capital, not your outside basis — the IRS excludes partnership debt, so a negative ending balance is usually arithmetic, not alarm.
