Resources
Straight answers for business owners.
Bookkeeping, tax, and financial strategy, written from the perspective of people who run businesses and deal with these questions themselves.
Can You Deduct Business Startup Costs? How the $5,000 Startup Deduction Works
Money you spend before your business opens is not an ordinary expense, but it is not lost either. Here is how the IRS lets you deduct up to $5,000 of startup costs in year one and recover the rest over 15 years.
Business Meal and Travel Deductions: What Is Deductible in 2026
Meals are 50% deductible, entertainment is 0%, and travel is 100%. The hard part is knowing which bucket an expense falls into and proving it. Here are the rules as they stand in 2026.
SEP IRA vs. Solo 401(k): Which Retirement Plan Is Best for Self-Employed Business Owners?
Both plans let a business owner shelter tens of thousands of dollars a year from income tax. One of them lets most owners shelter far more. Here is how the math works in 2026 and how to pick.
How to Read a Cash Flow Statement: A Guide for Small Business Owners
Your P&L says you made money. Your bank account says otherwise. The cash flow statement is the report that explains the gap, and most small business owners never open it. Here is how to read one in ten minutes.
Qualified Business Income (QBI) Deduction Explained: Who Qualifies and How to Calculate It
The QBI deduction can knock 20% off the business income you pay tax on, and most small business owners qualify. Here is how it works, where the income limits fall in 2026, and how to calculate yours.
How to Pay Yourself as a Small Business Owner: Owner's Draw vs. Salary
Whether you take an owner's draw or a salary is not a preference — it is decided by your business structure. Here is how each method works, how it is taxed, and how much to take.
How Long Should a Small Business Keep Records? IRS Retention Rules Explained
Most small business tax records need to be kept for three years — but "most" is doing a lot of work in that sentence. Here is exactly what to keep, for how long, and what you can safely shred.
Business Mileage Deduction: How to Track Miles and Write Off Vehicle Expenses
The vehicle deduction is one of the largest write-offs available to a small business owner and the one most often lost in an audit — not because the miles were not driven, but because nobody wrote them down.
1099 vs. W-2: How to Classify Workers Correctly
Whether a worker is a contractor or an employee is not your choice to make. The IRS decides based on how much control you have, and getting it wrong is one of the most expensive mistakes a small business can make.
How to Reconcile a Bank Statement: A Step-by-Step Guide for Small Businesses
A bank reconciliation proves that the cash in your books matches the cash in your bank. Skip it, and every report you run — and every tax return you file — is built on a number nobody has checked.
How to Read a Balance Sheet: A Guide for Small Business Owners
Your profit and loss statement tells you whether you made money. Your balance sheet tells you whether you can pay your bills, how much you owe, and what the business is actually worth on paper.
Section 179 vs. Bonus Depreciation: How to Write Off Business Equipment
Both Section 179 and bonus depreciation let a small business deduct the full cost of equipment in the year it is bought. They are not interchangeable, and choosing between them changes your tax bill this year, next year, and the year you sell.
What to Bring Your Accountant at Tax Time: A Small Business Checklist
Most tax-season delays are not caused by complicated tax law. They are caused by a missing 1099, an unreconciled bank account, or an estimated payment nobody wrote down. Here is exactly what to hand your accountant.
Home Office Deduction: Who Qualifies and How to Calculate It
The home office deduction is one of the most misunderstood write-offs available to self-employed business owners. It does not trigger audits, it is not limited to a dedicated room, and choosing the wrong calculation method can cost thousands over time.
The 8 Most Common Bookkeeping Mistakes Small Businesses Make
Most bookkeeping errors are not arithmetic problems. They are structural habits that quietly overstate profit, understate deductions, and turn into penalties that cost far more than the bookkeeping would have.
Year-End Bookkeeping Checklist for Small Businesses
Most of what makes tax season painful is decided before December 31, not in April. Here is the complete year-end bookkeeping checklist, in the order the work should actually be done.
Self-Employment Tax Explained: What You Actually Owe and Why
Self-employment tax is the bill that surprises first-year business owners the most, because it is charged on top of income tax. Here is exactly how it is calculated and what actually reduces it.
How to Categorize Business Expenses: A Small Business Guide
Miscategorized expenses are the single most common reason a small business overpays tax or fails an audit. Here is how to set up categories that match the IRS forms you actually file.
Cash Basis vs. Accrual Accounting: Which Is Right for Your Small Business?
The choice between cash and accrual accounting changes what your financial statements say, when you pay tax, and whether your books can actually tell you if you had a good month. Here is how to pick.
Quarterly Estimated Taxes for Small Businesses: How to Calculate What You Owe
If you own a business and no one is withholding tax from your income, the IRS expects payment four times a year. Here is exactly how to figure out how much, and how to stop guessing.
LLC vs. S-Corp: Which Saves More on Taxes for a Small Business?
An S-corp election can cut your self-employment tax bill by thousands, or cost you money in payroll and filing fees. The difference comes down to one number: your net profit.
How to Read a Profit and Loss Statement (P&L) for Your Small Business
Your profit and loss statement tells you whether your business actually makes money. Most owners glance at the bottom line and miss what the rest of it is telling them.
How Much Does Small Business Bookkeeping Cost?
Bookkeeping costs vary widely, but for most small businesses the real question is not what it costs. It is what bad bookkeeping costs you.
Why Service Business Owners Need Specialized Bookkeeping
Most accounting firms were built around product businesses. Service businesses have different cash flow patterns, different tax exposures, and different reporting needs.
Tax Planning vs. Tax Preparation: What Small Business Owners Need to Know
Tax preparation files what you owe. Tax planning reduces what you owe. Most small businesses only get one of those.
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