My Count Solutions Blog
Accounting, bookkeeping, and tax tips to help you understand your small business finances.
When tax season arrives, many business owners start searching through bank accounts, credit card statements, and old folders, trying to gather proof of expenses. A common question comes up during this process: Can you use bank statements as receipts for… Read More »
Tax scams targeting small businesses are becoming more sophisticated every year. In 2026, cybercriminals are using fake IRS messages, phishing emails, payroll fraud, and identity theft schemes to steal money and sensitive business information. Small businesses are especially vulnerable because… Read More »
Understanding the difference between K-1 income and distributions is critical for small business owners, especially those operating as partnerships or S corporations. Many entrepreneurs assume that the cash they receive from their business is what determines their tax bill—but that’s… Read More »
Federal excise taxes are often misunderstood, yet they play a crucial role in how the U.S. government raises revenue and regulates certain industries. Whether you’re a small business owner, startup founder, or simply trying to understand pricing structures, knowing how… Read More »
Starting a business in Texas can be exciting, but it’s important to follow the right legal steps — especially if you plan to operate under a name different from your legal one. One of the most common ways to do… Read More »
Managing property comes with many responsibilities—from maintaining buildings to ensuring tenants pay rent on time. But one of the most crucial (and often overlooked) parts of property management is accounting. Whether you manage a few rental properties or run a… Read More »
When you’re running a small business, managing your books can feel like walking a financial tightrope. You want to keep costs low—but you also want accuracy, compliance, and clarity. That’s where the big question arises: should you handle bookkeeping yourself,… Read More »
With digital payment apps becoming part of everyday life, many Americans are wondering what counts as taxable income and what gets reported to the IRS. Apps like PayPal, Venmo, and Cash App have made headlines for new tax reporting rules… Read More »
What is Form 8829? Form 8829, titled “Expenses for Business Use of Your Home,” is an IRS form designed to help self-employed individuals calculate and claim home office deductions. If you’re a freelancer, small business owner, or independent contractor, and… Read More »
The construction industry operates differently from most other businesses—and so does its accounting. From project-based revenue to variable job costs and labor complexities, construction accounting plays a vital role in tracking financial health and ensuring IRS compliance. Whether you’re a… Read More »
Goodwill is a key concept in accounting that often comes into play during mergers, acquisitions, or business consolidations. Unlike physical assets such as buildings or equipment, goodwill represents the value of a company’s reputation, customer relationships, brand recognition, and intellectual… Read More »
Businesses that deal with large cash transactions need to be aware of IRS Form 8300, a reporting tool that helps fight money laundering and tax evasion. If your business receives more than $10,000 in cash in a single transaction (or… Read More »
If you are a U.S. taxpayer with overseas financial assets, you may be required to file IRS Form 8938. Introduced under the Foreign Account Tax Compliance Act (FATCA), this form is a way for the IRS to track specified foreign… Read More »
Navigating IRS forms can be confusing for small business owners, LLC members, and entrepreneurs. One of the most important forms for determining how your business is taxed is IRS Form 8832: Entity Classification Election. Filing this form correctly and on… Read More »
When it comes to business accounting in the United States, Generally Accepted Accounting Principles (GAAP) serve as the backbone of financial reporting. These principles ensure consistency, transparency, and reliability in how companies present their financial health. For entrepreneurs and established… Read More »
When it comes to saving for retirement, small businesses and their employees often look for flexible and cost-effective solutions. One popular option is the SIMPLE IRA (Savings Incentive Match Plan for Employees Individual Retirement Account). SIMPLE IRAs are designed specifically… Read More »
The Internal Revenue Service (IRS) plays a critical role in the U.S. tax system, and receiving a letter from them can cause anxiety—even when everything is in order. But what happens when the letter isn’t really from the IRS? Fake… Read More »
When it comes to understanding a business’s financial health, owner’s equity is one of the most important concepts. Whether you’re a small business owner, investor, or just trying to understand accounting basics, knowing what owner’s equity is and how to… Read More »
An Easy Guide to Understanding and Claiming the Saver’s Credit Planning for retirement comes with some financial perks, especially if you’re contributing to retirement accounts like a 401(k) or IRA. One often-overlooked benefit is the Saver’s Credit, officially claimed using… Read More »
Running a trucking business requires careful financial management. Whether you’re an owner-operator or run a fleet of trucks, understanding bookkeeping is essential for maintaining your business’s profitability and ensuring compliance with tax regulations. This guide will walk you through the… Read More »
Managing payroll for trucking companies can be complicated. From unique pay structures to compliance with IRS guidelines, trucking businesses need software tailored to their needs to stay on top of their payroll processes. While generic payroll software may seem like… Read More »