The first Form 1099-DA reports gross proceeds only. Businesses that accept or hold crypto need their own basis records before December 31.
TIGTA says IRS exam revenue dropped 35% and audit staffing fell 27% in fiscal 2025. Here's why weaker enforcement doesn't lower your recordkeeping risk.
The IRS will shut off the FIRE e-filing system Nov. 19, 2026. Every information-return filer must move to IRIS and get a new TCC first.
The IRS Business Tax Account got new Summer 2026 features: EIN verification letters, digital notices, and payments. Why small businesses should use it.
Treasury stopped minting pennies in 2026. Washington and other states now have cash-rounding rules. What businesses that take cash need to do.
The IRS is replacing First-Time Abate with automatic penalty relief for businesses with a clean 3-year filing history. Here's how it works.
Small Business Trends just ranked the top bookkeeping software for sole proprietors. Here's what the list gets right, and what software alone can't fix.
Running a winery means your money is tied up in barrels for years before you see a dime of revenue. The grapes you crushed last fall won’t generate income until 2027—but the bills for labor, barrels, and storage keep arriving every month. Winery bookkeeping tracks inventory through production stages, calculates true cost per bottle, and...
Travel nursing comes with a unique tax situation: part of your income is taxable, and part can be tax-free, but only if you follow IRS rules carefully. Get it wrong, and you could owe thousands more than expected. This guide covers how travel nurse taxes work, what qualifies as a tax home, the 12-month rule,...
Running a business is expensive enough without paying $30 or more each month just to track where your money goes. Free bookkeeping software handles the basics—expense tracking, invoicing, and financial reports—without the subscription fees, which makes it a practical starting point for small businesses watching their overhead. The catch is that “free” doesn’t mean “all...
Restaurant owners have to make countless decisions, from menu creation to staffing. One choice that often gets overlooked is which accounting method to use. Cash and accrual accounting each have pros and cons, and the right fit depends on your restaurant’s size and goals, including the decision of using accrual accounting for your restaurant. Cash...
Freelancers love the freedom to set their own hours, but many struggle with accounting. Here are five common mistakes and simple solutions: Mixing personal and business funds. Opening a separate business bank account makes it easier to track income and expenses and simplifies tax filing. Ignoring receipts. Keep digital copies of every expense, no matter...
Non‑profits often work with tight budgets and multiple funding sources. Keeping track of donations and grants can be challenging. QuickBooks Online (QBO) offers tools to simplify nonprofit accounting. Set up your chart of accounts. Start by creating categories that reflect your programs and funding sources. For example, separate income accounts for donations, grants and membership...
Running a small business in Seattle means juggling sales, customer service and paperwork. When the year is ending, it’s easy to feel overwhelmed by tax prep. This checklist is a step‑by‑step guide to help you close your books and get ready for tax season. Reconcile every account. Start by matching your bank and credit‑card statements...
A former bookkeeper at Highgate Medical Group in Amherst recently pleaded guilty to embezzling over $1.8 million from the medical practice, highlighting the critical importance of proper financial oversight and professional bookkeeping services for small businesses. This incident raises alarms about the vulnerability of companies to internal fraud, emphasizing the necessity for robust financial protocols...