The archive
Every piece the desks have filed, newest first. Search it, or narrow it to one desk.
Section 179 vs. bonus depreciation: what each election does on the return, and what neither one does to your books
The machine cleared the capitalization threshold, so it is an asset. Both elections write off its cost on the return in year one. Your balance sheet still shows it, and your books still depreciate it for seven years.
De minimis safe harbor: the capitalization policy has to exist before the tax year starts
The $2,500 limit is the easy part. What decides whether you qualify is a written threshold in your own books, dated before the tax year began, and this is what that document says.
How to read a balance sheet, one line at a time, and what each line should tie to
A balance sheet shows what your business has, what it owes and what is left for you, on one day. How to read yours, the three lines to check first, and what to ask when a number does not match.
Can the owner of an LLC pay himself through payroll? What changes in your books the day the election takes effect
The election is filed and the payroll provider is set up. The part nobody covers is the books: one draw account becomes three, and the transfer you have coded as a draw for two years stops being one.
How much should I pay myself from my LLC? Reserve, floor, draw
Two subtractions decide it: the tax reserve you can read off last year's return, and the cash floor your business has to keep. What is left is the draw, and some months that is nothing.
How to pay yourself as a business owner: where an LLC draw lands in your books
Under the default tax treatment you pay yourself from an LLC with a draw, which is not an expense and does not lower your tax. What changes with partners or an S corporation, and how to check your books got it right.
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