Corporate Officers Must Be on Payroll: Why You Can't Take Distributions Only
Corporate officers who work in the business are employees under IRS rules — wages, withholding, and FICA apply even to sole shareholders taking distributions.
Blog
Plain-text accounting insights, tutorials, and updates from the Beancount.io team.
California's AB 692 Just Banned Most "Stay-or-Pay" Employment Contracts: What Small Employers Must Fix Now
California AB 692 voids stay-or-pay clauses signed on or after January 1, 2026 — audit your offer letters now or risk $5,000 per affected worker.
Bounce House Rental Business Insurance: The Coverage Gaps and How to Book Every Premium
General liability won't cover your own inflatables in transit. The four-policy stack bounce house renters need, and how to book premiums under IRS rules.
A Foreign Investor Owns Part of Your U.S. Business? The BEA Surveys You Must File Even If Nobody Contacts You
If a foreign investor owns 10%+ of your U.S. business, BEA surveys are mandatory: BE-13 in 45 days, yearly BE-15, and the BE-12 benchmark.
The Bahamas Just Zero-Rated VAT on Unprepared Food: What Small Retailers Need to Reclassify
Bahamas VAT on unprepared food fell from 5% to 0% on April 1, 2026. Grocers must re-code SKUs into 0/5/10% buckets and keep claiming input tax.
Azerbaijan's 7-Year Tax Holiday Is Over: What the New Progressive Income Tax and 6% POS Rate Mean for Your Small Business
Azerbaijan's 0% payroll holiday ended January 1, 2026: private-sector wages now face 3–14% progressive tax, while caterers pay 6% on card sales.
You Own the Land — But Do You Own the Water? A Landowner's Guide to Water Rights
In the western US, water rights follow priority dates, not deeds — verify decrees before buying land, avoid forfeiture, and lease unused water for income.
Uganda EFRIS Expansion: 12 Sectors, Double-Tax Penalties and How to Comply
Uganda’s EFRIS now covers 12 sectors regardless of VAT status; a missed e-invoice costs double the tax due or UGX 200,000 — here is how to comply.
Your Federal W-4 Isn't Enough: The State Withholding Certificates Every Employer Must Collect
The federal W-4 doesn't cover state tax in most states — collect each hire's state certificate (CA DE 4, NY IT-2104) or withholding defaults to max.
Sri Lanka Shelved Its VAT Threshold Cut: Why the Rs. 60 Million Line Still Decides Whether You Register
Sri Lanka dropped its planned Rs. 36M VAT threshold; registration still starts at Rs. 60M a year or Rs. 15M a quarter, and digital-services VAT took effect.
Bringing Your Spouse on a Business Trip? When Their Travel Is Deductible (and When It Lands on Your W-2)
Your spouse's travel is deductible only if they are your employee on a bona fide business trip — otherwise the IRS treats employer-paid costs as W-2 wages.
Session Musician Taxes and Bookkeeping: Union Scale, Buyouts, 1099s, Royalties, and Deductions
Gig pay lands on 1099-NEC, royalties on 1099-MISC, and the IRS taxes it all. US guide to scale vs. buyouts, fund payouts, and session deductions.