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Small Business

Financial management strategies and tools for small business owners

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12 min read

California Just Taxed SaaS: A State-by-State Guide to Software Subscription Sales Tax in 2026 and 2027

California SB 122 makes SaaS and other digital products subject to sales tax from January 1, 2027, with Colorado's HB 26-1223 flipping the same day. This guide maps SaaS taxability across all 50 states as of August 2026, explains economic nexus thresholds like California's 500,000 dollars plus the 5-million-dollar purchaser self-assessment rule, and gives a pre-January compliance checklist for software sellers and buyers.

Mike Thrift

taxtax-compliancesales-tax
17 min read

The DOL Wants to Simplify Independent Contractor Classification: What the Proposed Two-Factor Test Means for Small Businesses That Hire Freelancers

The DOL's February 2026 proposal would replace the six-factor totality test with a weighted two-factor standard focused on control and opportunity for profit or loss — here is how it works, what still depends on state law, and a checklist to audit your freelancer relationships now.

Mike Thrift

small-businesscomplianceindependent-contractor
10 min read

New York Voids Construction Retainage Above 5%: A Contractor's Guide to the Prompt Payment Act

New York's Prompt Payment Act amendment voids private construction contract clauses that retain more than 5%, requires retainage release within 30 days of final approval, and adds 1% monthly interest on late amounts — here is how contractors should fix their contracts, book retainage as a contract asset under ASC 606, and run a 30-day closeout.

Mike Thrift

constructionsmall-businesscash-flow
12 min read

Product Liability Insurance for Online Sellers: What Dropshippers and Amazon FBA Merchants Actually Need

Online sellers, dropshippers, and Amazon FBA merchants sit inside the strict-liability distribution chain even when they never touch the goods. This guide covers Amazon's $1 million insurance requirement, the gaps standard policies leave — recalls, fines, claims-made traps — and the bookkeeping records that make an eighteen-month-old claim survivable.

Mike Thrift

business-insuranceliabilitye-commerce
11 min read

Rent-to-Own Store Accounting: How to Classify the Lease, Book Repossessions, and Track the Fleet

Most week-to-week rent-to-own agreements are operating leases, not credit sales — the unit stays on your books as depreciating rental inventory, each payment splits into lease revenue, bundled services, and fees, and a repossession is a status change rather than a gain or loss. Covers lease-versus-sale classification, repossession entries, doubtful-rent allowances, and the payout math that decides whether a unit makes money.

Mike Thrift

leasesaccountingsmall-business
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