#guides
Guides
Step-by-step guides for accounting, bookkeeping, and financial tasks
Yacht Broker and Marine Service Yard Bookkeeping: ASC 606 Commissions, Trust Accounts, and Travel Lift Depreciation
Yacht brokerages recognize commissions at closing under ASC 606, segregate deposits in Chapter 326 trust accounts, and depreciate travel lifts with Section 179 — and the service yard runs on technician utilization, parts margin, and slip occupancy KPIs.
Independent Piano Technician Bookkeeping: ASC 606, Section 179, and KPIs for Tuning Shops
A practical bookkeeping guide for solo Registered Piano Technicians and small tuning shops, covering ASC 606 revenue recognition across home tunings, rebuilds, and concert hall contracts, plus Schedule C deductions, Section 179, care-custody-control insurance, and the operational KPIs that drive a profitable practice.
Auctioneer and Estate Sale Bookkeeping: Consignment Accounting, Trust Accounts, and the KPIs That Matter
Auction houses recognize revenue net—at the buyer's premium and consignor commission—under ASC 606, not at gross hammer price. A working guide to the consignor settlement liability, state trust-account rules, Form 8300 cash reporting, and the KPIs (sell-through rate, effective commission, settlement cycle time) that signal a healthy auction business.
Stacking the Self-Employed Health Insurance Deduction with the Premium Tax Credit, HSA, and Augusta Rule: A 2026 Owner Compensation Playbook
A field guide to coordinating the Section 162(l) self-employed health insurance deduction with the Premium Tax Credit's circular calculation, HSA contributions, and the Augusta Rule (Section 280A(g)) — including Form 7206 mechanics, S-corp W-2 Box 1 reporting under IRS Notice 2008-1, Medicare Part B and D deductibility, and 2026 contribution limits.
Sober Living Home Bookkeeping: NARR Levels, EKRA Compliance, and Per-Bed Revenue Recognition
How recovery residences should structure their chart of accounts, classify house managers and peer-recovery mentors, handle resident deposits as trust liabilities, and track bed-days, RevPAB, and occupancy under NARR, EKRA, and ASC 606.
Auction House Bookkeeping: Consignor Trust Accounts and the Agent vs. Principal Trap Under ASC 606
Auction houses are agents under ASC 606, not principals — book buyer's premium and seller's commission as net revenue, segregate consignor funds in a trust account, and reserve for bidder default on Proxibid and HiBid online sales.
Pest Control Bookkeeping: ASC 606, Termite Bond Reserves, and Per-Stop Profit
How route-based pest control and termite operators should apply ASC 606 to quarterly contracts and bond renewals, accrue retreatment reserves under ASC 460, reconcile chemical inventory to state Department of Agriculture records, and build per-stop costing in PestPac or FieldRoutes.
The Independent Used Car Dealer's Bookkeeping Playbook: Floorplan Notes, F&I Chargeback Reserves, Recon WIP, and the Buyers Guide That Costs $51,744 to Get Wrong
How independent used car dealers should book floorplan notes payable, capitalize reconditioning costs under IRC 263A, estimate F&I chargeback reserves under ASC 606, track BHPH notes receivable, and stay compliant with the FTC Buyers Guide rule and IRS Form 8300.
ISO vs. NSO Stock Options: A Startup Employee's Tax Guide to AMT, 83(b), Early Exercise, and the $100K Limit
A practical tax playbook for startup employees holding ISOs or NSOs — covering AMT exposure via Form 6251 line 2i, the 30-day Section 83(b) deadline, the two-year-and-one-year qualifying disposition rule, the $100,000 first-exercisable ISO cap, and the 1099-B cost basis error that causes double taxation.
Section 736 Payments to Retiring or Deceased Partners: 736(a) vs. 736(b), Hot Assets, and the Goodwill Lever
Section 736 splits liquidating payments to a retiring partner into 736(b) property payments (capital gain, no firm deduction) and 736(a) income or guaranteed payments (ordinary income with self-employment tax, deductible by the firm). The service-partnership carve-out, Section 751 hot assets, and Section 754 election together determine whether six- or seven-figure tax dollars land on the retiree or the firm.
Markup vs. Margin: The Pricing Mistake That Quietly Costs Small Businesses 7 Points of Profit on Every Sale
Markup and margin share a numerator but not a denominator, and the gap can quietly cost a contractor $99,000 a year. A plain-language guide to the conversion math, a target-margin lookup table, and why retailers, contractors, and restaurants keep underpricing jobs.
ASC 205-40 Going Concern: Documenting Substantial Doubt, Mitigating Plans, and Audit Opinions
A step-by-step guide to ASC 205-40 — how management evaluates substantial doubt about going concern within one year of issuance, which mitigating plans qualify, what to disclose under each of the three outcomes, and how to coordinate with auditors under AU-C 570 and PCAOB AS 2415 to land an unmodified opinion.