Skip to main content

#tax-compliance

Tax Compliance

Stay compliant with tax regulations and filing requirements

1142 postsView all tagsBack to All Posts
11 min read

California Cities Can Now Pull Your Airbnb Data: An STR Host's Guide to SB 346 and Transient Occupancy Tax Compliance

Since January 1, 2026, California's SB 346 lets any city or county with a conforming ordinance require Airbnb, Vrbo and other platforms to report each short-term rental's address, assessor parcel number and listing URL as often as monthly, backed by fines of up to $10,000 per day. Covers which cities already enforce (Los Angeles, Santa Monica, San Diego), how transient occupancy tax works and who owes it, what back assessments with 10–25% penalties look like, and a plain-text bookkeeping setup that books TOT to a liability account, records platform-remitted tax, and reconciles channel by channel.

Mike Thrift

airbnbreal-estateproperty-management
12 min read

When Your Payroll Provider Fails to Deposit Your Taxes: Why the IRS Still Comes After You

If a payroll company withdraws your tax money and never deposits it, the employer still owes the full tax plus penalties. A payroll service provider or reporting agent assumes no liability, a Section 3504 agent shares it, and only an IRS-certified CPEO is solely liable for its work-site employees. This guide covers the Trust Fund Recovery Penalty that reaches owners personally, seven warning signs of a failing provider, and the monthly EFTPS verification habit that catches a missed deposit at a 2% penalty instead of 10%.

Mike Thrift

payrolltax-compliancewithholding
11 min read

AWS Marketplace Seller Bookkeeping: Reconcile Gross Revenue, Listing Fees, Taxes, Refunds, and Delayed Disbursements by Offer

How AWS Marketplace sellers can keep deposits from masquerading as revenue — book gross billings at the transaction level, record listing fees separately, classify the three tax-share scenarios, reverse refunds against the original offer, and reconcile net disbursements to the bank using clearing accounts, offer IDs, and bank trace IDs.

Mike Thrift

bookkeepingreconciliationsaas
11 min read

Form 4868 for Sole Proprietors in 2026: More Time to File, Not More Time to Pay

Form 4868 gives a sole proprietor an automatic six-month extension to file Form 1040 and Schedule C — moving the 2025 return deadline from April 15 to October 15, 2026 — but the tax itself was still due in April. How to estimate total liability including self-employment tax, request the extension electronically or through a designated payment, and limit the 5%-per-month failure-to-file penalty.

Mike Thrift

tax-filingtax-deadlinessole-proprietorship
12 min read

Supplemental Wages in 2026: A Small Employer's Guide to 22% Withholding on Bonuses, Commissions, and Overtime

For 2026, the federal flat withholding rate on separately identified supplemental wages is 22%, with a mandatory 37% rate on amounts over $1 million. Learn when small employers may use the flat method versus the aggregate method for bonuses, commissions, and overtime, why Social Security, Medicare, and FUTA still apply, how deposit timing and Form 941 fit in, and how to track W-2 box 12 code TT for qualified overtime.

Mike Thrift

payrolltax-compliancesmall-business
11 min read

Supplier Cash Discounts: How Retailers Should Record Early-Payment Savings Without Distorting Inventory

Cash discounts like 2/10, net 30 can be recorded two ways — reduce purchases, or credit a separate discount account — and the IRS expects one method applied consistently. How each choice changes COGS, closing inventory, and year-end reconciliation for a retailer, plus an invoice workflow that keeps discounts from silently distorting margins.

Mike Thrift

inventorycost-of-goods-soldaccounts-payable
11 min read

Working Condition Fringe Benefits: How to Make Job Tools, Software, and Education Tax-Free in 2026

Under IRC Section 132(d), employers can exclude job tools, software, and job-related education from employee wages as working condition fringe benefits when the cost would have been deductible if the employee paid it. This guide covers the deduction test, the substantiation rules for cash reimbursements, how Section 127's $5,250 educational assistance limit differs, and a bookkeeping workflow that keeps qualifying benefits out of taxable payroll.

Mike Thrift

employee-benefitstaxpayroll
11 min read

Australia's Dynamic PAYG Instalments: How to Prepare for More Responsive Tax Payments in 2027

Australia's 2026–27 Federal Budget expands the ATO's Dynamic PAYG instalments pilot, targeting broader accounting-software adoption from July 2027 alongside an announced — but not yet legislated — monthly payment option. This guide separates confirmed changes from proposals, explains why bookkeeping quality decides whether software-calculated instalments help, and lays out the monthly close, tax-reserve forecast, and variation evidence trail small businesses can build now.

Mike Thrift

taxsmall-businesscash-flow
11 min read

Czech Flat-Rate Tax in 2026: How Self-Employed People Choose a Paušální Režim Band

The Czech paušální režim bundles income tax, pension, and health insurance into one monthly payment — CZK 9,162, CZK 16,745, or CZK 27,139 in 2026. This guide covers how the 75% activity-composition test assigns your band, the retroactive Band I reduction from July 2026, the 12 January entry deadline, and the records OSVČ should keep even without an annual return.

Mike Thrift

taxself-employmentfreelance
11 min read

Employer Differential Wage Payments Credit: How to Track Reservist Pay and Claim Form 8932

The Section 45P credit equals 20% of up to $20,000 in differential wage payments per qualified employee—a maximum of $4,000 each—when an employer keeps paying civilian wages during active-duty military service over 30 days. Learn the 91-day employee test, how Form 8932 flows to Form 3800, why the payments skip Social Security and FUTA but not income-tax withholding, and a bookkeeping system that keeps the calculation auditable.

Mike Thrift

tax-creditspayrollwithholding
12 min read

The 2026 Employer Meal Deduction Cliff: How to Track Disallowed Cafeteria and Convenience-of-the-Employer Meal Costs

For amounts paid after December 31, 2025, section 274(o) cuts the employer deduction for qualifying employer-operated eating facilities and convenience-of-the-employer meals from 50% to zero — even when the meal stays tax-free to the employee. This guide maps which meal costs land at 0%, 50%, or 100%, and lays out a chart-of-accounts and month-end workflow that keeps the tax adjustments defensible.

Mike Thrift

tax-deductionstax-compliancebookkeeping
Start Free→Documentation