IRS Audit Triggers: 10 Risks to Review
The IRS does not publish a guaranteed list of audit triggers. Returns can be selected through computer screening, statistical sampling, related examinations, and document mismatches.
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Practical financial guides for small business
Get direct, useful answers about bookkeeping, reporting, payroll, taxes, hiring, pricing, and accounting systems. Filter the library by topic or format to find the guide you need.
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IRS Auto Depreciation: A Beginner’s Guide
IRS auto depreciation is the deduction method for the business-use portion of a vehicle's cost when the taxpayer uses actual expenses instead of the standard mileage method and meets the applicable rules.
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IRS Form 2290: A Beginner’s Guide
IRS Form 2290 reports Heavy Highway Vehicle Use Tax for highway motor vehicles with taxable gross weight of at least 55,000 pounds and provides stamped Schedule 1 as proof for registration.
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IRS Form 8809: The Complete Guide
IRS Form 8809 requests an extension of time to file specified information returns; it does not extend income-tax returns, employment-tax returns, payments, or recipient-statement deadlines.
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IRS Forms for an LLC Taxed as an S Corporation
An eligible LLC generally uses Form 2553 to elect S status, Form 1120-S and Schedule K-1 for annual income-tax reporting, and payroll and shareholder forms based on its activity.
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IRS Hobby Income: Common Questions Answered
Income from a hobby is taxable even when the activity is not a trade or business. The classification determines where income is reported and whether a loss can reduce other income.
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IRS Payroll Tax Requirements: Complete Guide
IRS payroll requirements cover worker classification, withholding, employer and employee Social Security and Medicare taxes, federal unemployment tax, deposit schedules, employment-tax returns, W-2 filing, and records.
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IRS Qualified Business Income Deduction Explained
The qualified business income deduction, also called the Section 199A deduction, can allow eligible individuals, estates, and trusts to deduct up to 20 percent of qualified business income, subject to several limits.
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IRS Quarterly Tax Deadlines for 2026
For 2026 individuals, federal estimated payments are due April 15, June 15, and September 15, 2026, and January 15, 2027, subject to adjustments and special rules.
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IRS Section 179 Vehicle List: What Qualifies?
The IRS does not publish a shopping list of vehicle makes and models that automatically qualify for Section 179. Eligibility is determined from the vehicle's specifications, business use, placed-in-service date, cost, and current tax limits.
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Job Costing Software: How to Choose and Validate It
Choose job costing software by testing estimates, budgets, cost codes, commitments, labor burden, materials, billing, change control, forecasting, permissions, and reconciliation to the general ledger.
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Job Costing: Labor, Materials, Overhead, Billing, and Review
Build job costing for estimates, labor, payroll burden, materials, subcontractors, overhead, billing, change orders, margin, and close review.
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Job Profitability: Revenue vs. Profit for Service Jobs
Turn job revenue into a useful job-profitability report by capturing direct labor, burden, materials, callbacks, fees, capacity, and collection timing.
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K-1 Tax Form Explained for Service-Business Owners
Understand what a Schedule K-1 reports, why K-1 income differs from cash distributions and book profit, and which records should reconcile before filing.
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KCS Bookkeeping: What Searchers Should Verify
Understand the ambiguous KCS Bookkeeping search and verify the intended provider, location, service scope, credentials, controls, security, and engagement terms.
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Keeper Bookkeeping Software: What It Does
Understand Keeper bookkeeping software, its close and client-workflow features, ledger integrations, controls, limits, and evaluation steps.
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Klines Bookkeeping: What Searchers Should Verify
Understand the ambiguous Klines Bookkeeping search and verify provider identity, location, services, credentials, controls, security, and fit.
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Law Firm Accounting Services
Law firm accounting differs from ordinary small business bookkeeping in one decisive way: the firm holds money that belongs to clients. That single fact introduces obligations that do not exist in any other service business, and getting it wrong carries professional consequences rather than merely financial ones.
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Law Firm Bookkeeping and Trust Accounting
Build law-firm books that separate operating and client trust funds, support matter ledgers, reconciliations, billing, costs, payroll, and review.
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Lightyear Xero Integration: AP Setup and Control Guide
Implement Lightyear with Xero by controlling the organization connection, supplier master data, accounts, tax rates, tracking, approvals, duplicate checks, bill status, line detail, attachments, export errors, and Xero reconciliation.
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List of Business Tax Deductions
A useful business-deduction list is a review map, not permission to deduct every payment. Each item needs the correct taxpayer, business purpose, timing, documentation, allocation, capitalization treatment, and return line.
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LLC Filing Fees: What to Budget
LLC filing fees include more than the initial articles of organization. A reliable budget separates government charges, optional vendor costs, recurring reports, state taxes, licenses, and future changes.
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LLC Quarterly Taxes: A Beginner’s Guide
An LLC does not have one universal quarterly-tax rule. Federal tax classification determines whether estimates belong to the owner, partnership, S corporation, C corporation, or more than one taxpayer.
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LLC Tax Breaks: Deductions and Planning Rules
An LLC does not receive a universal package of tax breaks merely because it was formed. Deductions, credits, benefits, and elections follow the LLC's federal classification, business activity, payment timing, ownership, documentation, and state rules.
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