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Mike Thrift

Mike Thrift

Marketing Manager

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The Section 645 Election: How Form 8855 Treats a Qualified Revocable Trust as Part of the Estate
·mike

The Section 645 Election: How Form 8855 Treats a Qualified Revocable Trust as Part of the Estate

A trustee's guide to the Section 645 election. File Form 8855 to fold a qualified revocable trust into the related estate during the election period and unlock a fiscal year, the charitable set-aside deduction, a two-year exemption from estimated tax payments, and a single combined Form 1041.

estate-planning
trust
fiduciary
form-1041
+3
Section 7702B Long-Term Care Insurance: Deduct Premiums, Trade Old Policies, and Keep the Estate Intact
·mike

Section 7702B Long-Term Care Insurance: Deduct Premiums, Trade Old Policies, and Keep the Estate Intact

Section 7702B defines tax-qualified long-term care insurance — age-indexed premium deductions up to $6,200 per person in 2026, tax-free benefits under the per diem cap, Section 1035 exchanges from old life or annuity contracts, and hybrid life-LTC structures for aging owners and retirees.

insurance
tax-deductions
tax-planning
estate-planning
+4
Section 7702B Qualified Long-Term Care Insurance: Age-Indexed Deductions, Hybrid Life-LTC Policies, and Section 1035 Exchanges
·mike

Section 7702B Qualified Long-Term Care Insurance: Age-Indexed Deductions, Hybrid Life-LTC Policies, and Section 1035 Exchanges

Section 7702B sets the federal rules that decide whether a long-term care policy delivers deductible premiums, tax-free benefits, and tax-free 1035 exchanges. This guide breaks down the 2026 age-indexed deduction limits, the $430 per-diem cap, hybrid life-LTC mechanics, and the planning patterns that move trapped cash value into care coverage without recognizing gain.

tax-planning
insurance
health-insurance
estate-planning
+4
Section 83(i) Tax Deferral on Private Company Stock: A Five-Year Lifeline for Pre-IPO Employees with RSUs and NSOs
·mike

Section 83(i) Tax Deferral on Private Company Stock: A Five-Year Lifeline for Pre-IPO Employees with RSUs and NSOs

Section 83(i) lets qualified employees of qualified private companies defer federal income tax on RSU settlements and NSO exercises for up to five years. The 80 percent grant rule, mandatory escrow, and 30-day election deadline explain why adoption stays in the single digits — and when the election still pays off.

tax
tax-planning
equity
equity-instruments
+4
SECURE 2.0 Section 101: Mandatory Auto-Enrollment for New 401(k) and 403(b) Plans (2026 Compliance Guide)
·mike

SECURE 2.0 Section 101: Mandatory Auto-Enrollment for New 401(k) and 403(b) Plans (2026 Compliance Guide)

SECURE 2.0 Section 101 requires new 401(k) and 403(b) plans established after December 29, 2022 to auto-enroll employees at a 3-10% default deferral with 1% annual escalation. A 2026 compliance guide covering EACA notices, the four exemptions, QDIA selection, the 90-day permissible withdrawal, and the December 31, 2026 plan amendment deadline.

retirement-plans
payroll
compliance
tax-compliance
+4
SOC 2 Type II for SaaS Startups: Scope, Survive, and Ship Your First Customer-Driven Audit
·mike

SOC 2 Type II for SaaS Startups: Scope, Survive, and Ship Your First Customer-Driven Audit

A founder's guide to SOC 2 Type II in 2026 — what it actually tests, realistic cost ($20K–$35K first year) and timeline (3–12 month observation window), which Trust Services Criteria to scope, the seven controls that trip startups up, and how to keep enterprise deals moving with Type I bridge letters while the audit runs.

saas
startup
compliance
security
+3
State PFML Programs in 2026: A Multi-State Employer's Guide to Withholding, Private Plans, and the Section 45S Credit
·mike

State PFML Programs in 2026: A Multi-State Employer's Guide to Withholding, Private Plans, and the Section 45S Credit

Sixteen US jurisdictions run mandatory paid family and medical leave programs in 2026, with new benefits live in Minnesota, Maine, and Delaware, a 23% Washington premium hike to 1.13%, and a permanent Section 45S federal credit. This guide covers which states require withholding, how private plan exemptions work, how PFML coordinates with FMLA and ADA, and the W-2 Box 14 codes that break payroll when miscoded.

payroll
compliance
multi-state-tax
tax-credits
+4
Surety Bonds for Construction Contractors: Miller Act, SBA Guarantees, and the Books That Build Bonding Capacity
·mike

Surety Bonds for Construction Contractors: Miller Act, SBA Guarantees, and the Books That Build Bonding Capacity

How bid, performance, and payment bonds work in 2026 for small construction contractors — the Miller Act's $35K and $150K federal thresholds, the SBA's 80–90% guarantee covering contracts up to $14 million, and the working-capital and WIP discipline that decides which builders get bonded for the largest jobs.

construction
sba
small-business
bookkeeping
+4
Surety Bonds for Construction Contractors: How the Miller Act and SBA Guarantee Program Open Public Works to Small Builders
·mike

Surety Bonds for Construction Contractors: How the Miller Act and SBA Guarantee Program Open Public Works to Small Builders

Public construction contracts above the FAR $150,000 threshold require performance and payment bonds under the Miller Act, with state Little Miller Acts setting thresholds from $25,000 to $500,000. The SBA Surety Bond Guarantee Program—which guaranteed $10.6 billion in bonds for 2,200+ small businesses in FY2025—lets approved sureties write bonds for small contractors by absorbing 80–90% of loss risk.

construction
sba
small-business
contracts
+4
Tax Planning for Travel Nurses: Tax Home, the One-Year Rule, Per Diem Stipends, and Multi-State Filing
·mike

Tax Planning for Travel Nurses: Tax Home, the One-Year Rule, Per Diem Stipends, and Multi-State Filing

A practical breakdown of how travel nurses keep housing and meal stipends tax-free — covering the IRS tax home rule, the 12-month assignment cliff, duplicate-expense documentation, multi-state nonresident returns, and which states have reciprocity agreements.

tax-planning
multi-state-tax
healthcare
per-diem
+4
Venture Debt and Recurring Revenue Loans in 2026: A Founder's Guide
·mike

Venture Debt and Recurring Revenue Loans in 2026: A Founder's Guide

How venture debt and recurring revenue loans work in 2026 — pricing in the 10-13% range, warrant coverage of 0.5-1.5%, end-of-term fees, MAC clauses, and when each instrument actually extends runway versus trapping founders before the next equity round.

venture-debt
startup
fundraising
financing
+4
AI Bookkeeping for Small Business in 2026: Where Generative AI Wins and Where It Fails
·mike

AI Bookkeeping for Small Business in 2026: Where Generative AI Wins and Where It Fails

AI bookkeeping tools now hit 85–95% categorization accuracy and shrink month-end close from days to under two hours, but the 2–5% confidently wrong residual is where audit risk hides. A practical workflow for small businesses covering daily, weekly, monthly, and quarterly review steps.

ai
bookkeeping
automation
small-business
+4
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