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Mike Thrift

Marketing Manager

5027 postsView all authorsBack to All Posts
12 min read

The $120,000 Fertility Benefit: How to Account for America's Newest Standalone Employee Benefit

A proposed federal rule would let employers offer fertility coverage as a standalone excepted benefit — like dental or vision — capped at a combined $120,000 lifetime maximum per participant and covered beneficiaries, for plan years beginning on or after January 1, 2027. Here is how the fully insured and self-funded options differ on the books, and the ledger accounts, payroll deduction codes and accumulator reports to set up before the first enrollment.

Mike Thrift

employee-benefitshealth-insurancepayroll
14 min read

Tortilleria Bookkeeping: Masa Yields, Press Depreciation, and the Wholesale-vs-Retail Split

A tortilleria's masa cost per dozen moves about 5 cents when yield shifts 10 percent — the entire profit on a wholesale dozen. How to cost masa by measured yield, split retail and wholesale revenue and COGS, book presses and ovens under Section 179 or 7-year MACRS, and track the five KPIs that expose a losing route before the bank does.

Mike Thrift

small-businesscost-of-goods-soldinventory
9 min read

The 2½-Month Bonus Rule: Why Year-End Bonuses Must Be Paid by March 15 to Be Deductible

An accrual-basis employer can deduct year-end bonuses in the year earned only if employees actually receive the money within 2½ months after year-end — March 15 for calendar-year businesses. The deduction also requires a liability fixed by December 31 under the all-events test, and it fails for bonuses owed to related parties under Section 267 regardless of payment timing.

Mike Thrift

tax-planningaccrual-accountingpayroll
9 min read

Working While Collecting Social Security in 2026: What the Earnings Test Takes From Your Checks

In 2026 the Social Security retirement earnings test withholds $1 of benefits for every $2 earned above $24,480 before full retirement age, and $1 for every $3 above $65,160 in the year you reach FRA. Wages and net self-employment profit count; pensions, IRA withdrawals, dividends, and rental income do not — and withheld benefits are credited back through a higher monthly check at FRA.

Mike Thrift

retirementretirement-planningpersonal-finance
9 min read

The Agentic General Ledger: What Autonomous Bookkeeping Does Differently From QuickBooks or Xero

An agentic general ledger puts AI inside the ledger — categorizing transactions as they arrive and reconciling continuously — instead of bolting automation onto a passive record like QuickBooks or Xero. Agentic means the software acts within boundaries and escalates judgment calls; it does not mean unattended. Here is what changes day to day, the five questions to ask during the demo (audit trail, review queue, error handling, data export, data use), and a 30-day rollout that avoids teaching a new system your old bad habits.

Mike Thrift

aiautomationbookkeeping
10 min read

Alabama's Grocery Tax Is Back: A POS and Bookkeeping Checklist for the July 1 Snap-Back to 2%

Alabama's two-month grocery tax holiday ended June 30, 2026, and the 2% state tax on food resumed July 1 — with city and county food taxes never having paused. This is the register-by-register POS checklist and month-end bookkeeping routine that keeps the straddle-period July return tying out, covering cutoff transactions, prepared-food classification, SNAP tender confusion, and the uncollected-tax exposure retailers owe themselves.

Mike Thrift

sales-taxalabamapoint-of-sale
12 min read

B.C.'s 7% PST on Professional Services: The October 1, 2026 Compliance Guide

On October 1, 2026, British Columbia applies 7% PST to accounting, architectural, engineering, security, and non-residential real estate services — with engineering taxed on only 30% of the fee (2.1% effective). Here is who must register, how the paid-vs-provided transition rules treat September and October billing, which exemptions need documentation, and the chart-of-accounts setup that keeps the liability separate.

Mike Thrift

sales-taxtax-compliancebookkeeping
13 min read

Bulk Sale Notices and Successor Liability: How Asset Buyers Inherit the Seller's Tax Debts

An asset purchase does not automatically leave the seller's unpaid state taxes behind. State bulk sale statutes make the buyer liable unless notice is filed before payment or possession — New York requires Form AU-196.10 by registered mail 10 days ahead, California requires a CDTFA clearance certificate rather than escrow alone, and Illinois and Pennsylvania extend successor liability to income taxes. Here are the clearance rules, the non-tax liabilities that ride along, and a seven-step checklist to run before closing.

Mike Thrift

business-acquisitionbuying-a-businesssales-tax
10 min read

California SB 351: How Dental and Med Spa Practices Must Rebuild Their MSO/PC Books for 2026

California SB 351 took effect January 1, 2026, barring private equity and management companies from controlling clinical decisions at medical and dental practices. Because the violations it targets — percentage-of-collections management fees, clinician payroll in the MSO, patient revenue landing outside the PC — are all visible in the general ledger, compliance is largely a bookkeeping project. Here are seven ledger fixes to make now.

Mike Thrift

healthcarecaliforniacompliance
10 min read

California Workers' Comp Just Got More Expensive: What the September 1 Rate Decision Means for Your Budget

California's advisory pure premium rate for workers' compensation rose 6.6% to $1.65 per $100 of payroll on September 1, 2026 — the second consecutive annual increase after a decade of declines. Here is how the benchmark actually reaches your bill, how to estimate the impact from your own payroll, and five levers — classification checks, clean audits, X-mod management, shopping the renewal, and monthly accruals — that keep the increase small.

Mike Thrift

insurancecaliforniasmall-business
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