Blog

Insights on tax planning, small business finance, and navigating the IRS from Thomas Duda, CPA.

Tax PlanningSmall BusinessIRS ResolutionBookkeepingTax Strategy
Tax Planning

What Is a K-1 and Why Did I Receive One?

Received a Schedule K-1 and not sure what it means? Here is what a K-1 reports, why you received one, and what to review before filing.

May 14, 2026

Small Business

K-1 Preparation Checklist for Business Owners

Preparing K-1s starts before tax season. Use this checklist to organize owner records, books, allocations, and supporting schedules.

May 14, 2026

Bookkeeping

How to Clean Up QuickBooks Before Tax Season

QuickBooks cleanup before tax season starts with reconciliations, category review, balance sheet cleanup, and a clear open items list.

May 14, 2026

Small Business

Capital Accounts Explained for LLC Owners

Capital accounts track an LLC owner's economic activity, including contributions, allocations, and distributions. Here is what owners should know.

May 14, 2026

Small Business

Owner Draws vs Distributions vs Guaranteed Payments

Owner draws, distributions, and guaranteed payments are not the same. Learn how these terms differ and why clean records matter.

May 14, 2026

Bookkeeping

Tax-Ready Books Checklist for Small Business Owners

Use this tax-ready books checklist to prepare reconciliations, reports, owner records, and workpapers before filing season.

May 14, 2026