Built for Business Owners. Written By A Practicing CPA.
Turning Tax Complexity Into Business Clarity - One Article At A Time
This Week’s
Featured Article
Choosing between cash and accrual accounting can have a big impact on how you view the health of your business. While cash basis is simple and tracks money as it comes in and goes out, accrual accounting provides a fuller picture by matching income and expenses to when they’re earned or incurred. In this article, we’ll explore the strengths and drawbacks of each method, how they affect financial decision-making, and what business owners should consider when deciding which approach fits their goals.
Federal + State
-
Audit Shock: When the Partnership Ends Up Paying the Tax
Under the BBA audit rules, the IRS no longer chases down individual partners for tax on audit adjustments. Instead, the partnership itself can be on the hook - leaving today’s partners paying for yesterday’s mistakes. This article breaks down how the rules work, including the imputed underpayment, the timing mismatch between the reviewed year and the adjustment year, the push-out election, and provides some practice pointers.
-
Where Do You Owe Tax? Understanding Nexus in a Post-Wayfair World
Think you only owe tax where your business is located? Think again. From physical presence to economic activity, states are casting a wider net - and your business might already be on the hook. Even remote sales, digital transactions, and third-party arrangements can create unexpected obligations. Learn what triggers tax obligations across state lines and how to stay compliant in today’s post-Wayfair world.
In the News
-
End of the $800 De Minimis Rule: What Small Businesses Need to Know About Taxes, Costs & Planning
The end of the U.S. $800 de minimis rule means higher duties, more paperwork, and tighter cash flow for small business owners who rely on imports. While the policy was pitched as leveling the playing field, many small retailers, e-commerce sellers, and U.S. consumers will feel the squeeze first. Here’s what you need to know about the tax, accounting, and planning strategies to stay ahead.
Tax Compliance
-
Tax Planning & Fuel Taxes: What Independent Truck Drivers Need to Know
Independent truck drivers face unique tax burdens, especially with fuel taxes and shifting regulations. Learn how proactive planning can save money and avoid compliance issues on the road.
-
10 Common Mistakes LLCs Make (and How to Avoid Them)
Running an LLC comes with unique tax and legal responsibilities. Avoid common pitfalls that could cost you time and money by learning the top 10 mistakes LLC owners make - and how to steer clear of them for smooth, compliant business operations.
Management + Operations
-
Choosing the Right Bank for Your Business: What to Look For Beyond Free Checking
Not all business bank accounts are created equal. Learn what to look for beyond free checking - like cash flow tools, customer support, and business lending options - so you can choose the right bank to support your growth.
