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#bookkeeping

Bookkeeping

Modern bookkeeping techniques using plain-text and automated workflows

The DOL Wants to Scrap Its Six-Factor Contractor Test: What the 2026 Two-Factor Proposal Means for Your Business

The DOL's February 26, 2026 proposal (RIN 1235-AA46) would replace the 2024 six-factor contractor test with a two-factor economic-reality analysis weighing control and opportunity for profit or loss. Here is what changes, why the 2024 rule is in enforcement limbo, and what to document in your books now while the rescission is pending.

FinCEN Finally Ended BOI Reporting for U.S. Companies: What You Still Need to Track in 2026

As of the August 14, 2026 final rule, every U.S.-formed LLC, corporation, and partnership is exempt from FinCEN Beneficial Ownership Information reporting; only foreign entities registered to do business in the U.S. must still file, within 30 days. Domestic companies file nothing, but bank CDD collection, state disclosures, and clean ownership records still apply.

Florida's Operations Charge Law (SB 606) Takes Effect July 1, 2026: How Restaurants Must Disclose Every Service Fee

Florida SB 606 amends Statute § 509.214 effective July 1, 2026, requiring restaurants to disclose every mandatory operations charge—its amount and purpose—on menus and receipts before the order, on its own line separate from tax and tips. Includes the payroll treatment (service charges are wages, not tips), sales-tax exposure, and a chart-of-accounts setup to book each fee cleanly.

FMCSA's $75,000 Freight Broker Bond Is Finally Enforceable: What the January 2026 Suspension Clock Means for Your Authority

FMCSA's broker financial-responsibility rule took full effect January 16, 2026, adding a seven-business-day cure clock, electronic shortfall notice, and a cash-liquidity standard for BMC-85 trusts. This guide covers the four rule changes and the bookkeeping controls that keep a $75,000 bond available on short notice.

Illinois' Swipe Fee Ban on Sales Tax and Tips: What the Interchange Fee Prohibition Act Means for Your Business Before July 2026

Illinois' Interchange Fee Prohibition Act bans swipe fees on the sales tax and gratuity portions of card transactions starting July 1, 2026 — the first US law of its kind. Learn how to prove tax and tips per transaction, choose between the real-time exemption and the 180-day rebate, and structure a chart of accounts that captures every dollar either way.