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Mike Thrift

Marketing Manager

5030 postsView all authorsBack to All Posts
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
10 min read

Cut-Flower Farm Bookkeeping: Enterprise Budgets, Per-Stem Costs, and Pricing Bouquets for Actual Profit

How to build an enterprise budget for a cut-flower farm, calculate true per-stem cost (total planting cost ÷ marketable stems, counting owner labor and 20–40% shrink), compare farmers-market, subscription, wholesale, and u-pick channels by net return per hour, and price mixed bouquets from a costed recipe — plus Schedule F vs. Schedule C rules and seasonal cash-flow practices.

Mike Thrift

agriculturebookkeepingsmall-business
12 min read

Denmark's Digital Bookkeeping Act Hits Sole Proprietors: The DKK 300,000 Test and Your Switch-Over Plan

From January 1, 2026, Danish sole proprietorships, partnerships, and associations with net turnover above DKK 300,000 in both 2024 and 2025 — roughly 118,000 businesses — must keep books in a compliant digital system with NemHandel/Peppol e-invoicing, tamper-evident five-year storage, weekly automated backups, and SAF-T export on demand. This guide covers the two-year turnover test, the five system requirements, the five mistakes that trigger enforcement, and a seven-step migration checklist.

Mike Thrift

bookkeepingcompliancesole-proprietorship
12 min read

The 15% Service-Fee Cap Is Real: What the Ticketmaster Settlement Means for Your Venue's Books

The March 2026 DOJ settlement caps Ticketmaster service fees at 15% of face value at Live Nation amphitheaters, limits venue exclusivity deals to four years, and guarantees rival ticketing access — while the FTC's all-in pricing rule already binds every ticket seller. A practical guide for independent venues and promoters on rebuilding per-ticket math, ASC 606 principal-vs-agent revenue calls, settlement-sheet reconciliation, and the seven contract terms to renegotiate now.

Mike Thrift

compliancelegalsmall-business
11 min read

Donating Your Old Work Truck or Van? Why the Deduction Is the Sale Price, Not Blue Book

Since 2005, the IRS has limited most vehicle donation deductions to the charity's actual sale proceeds reported on Form 1098-C — not Blue Book value. This guide covers the $500 and $5,000 paperwork thresholds, the three exceptions that allow full fair market value, and why a fully depreciated work truck can produce a $0 deduction plus taxable recapture income.

Mike Thrift

charitable-givingtax-deductionstax-planning
10 min read

That "Official" Compliance Letter Probably Isn't From the Government: How to Spot Business Imposter Mailers

Private companies mail new LLCs and corporations official-looking notices charging $110 for $10 state filings, $125 for meeting minutes no state requires, and $89 for labor law posters the government gives away free. A 60-second checklist separates real government notices from solicitations, with steps to reverse a payment you already made.

Mike Thrift

fraud-preventionsmall-businesscompliance
13 min read

Financial Infidelity When You Run a Business Together: A Transparency System for Co-Owner Couples

Bankrate's January 2026 survey found 43% of U.S. adults consider financial secrecy at least as bad as physical cheating, and 40% of adults in live-in relationships admit to a money secret. For couples who co-own a business, a hidden card or debt also distorts pricing, payroll and joint tax liability — here are the bookkeeping controls, monthly review cadence and entity rules that make transparency structural rather than voluntary.

Mike Thrift

family-businesssmall-businessbookkeeping
12 min read

Hiring a Public Adjuster After Property Damage: Fees, License Checks, and Booking the Settlement

Public adjusters work for the policyholder, not the insurer, and typically charge 5%–15% of the settlement, with many states capping standard claims near 15%–20% and declared-disaster claims near 10%. This guide covers verifying a license and surety bond, which fee structures to question before signing, and how to book proceeds — claim receivable, gain or loss against net book value, and business-interruption income recognized at settlement.

Mike Thrift

insurancesmall-businessrisk-management
10 min read

House Hacking Taxes: How to Split Your Duplex Between Schedule E and Home (and Keep the Section 121 Exclusion When You Sell)

A house hack is two tax properties under one roof — a Schedule E rental and a Schedule A home. Split shared costs by a documented percentage, depreciate only the rental half over 27.5 years, use up to $25,000 of rental losses against wages below $100,000 MAGI, and expect unrecaptured Section 1250 gain at up to 25% on prior depreciation when you sell.

Mike Thrift

real-estatetax-planningdepreciation
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