by Juliya Moody | May 7, 2025 | Accounting, Bookkeeping
Small business owners often treat company funds as their personal piggy bank, but failing to document draws or loans properly can lead to IRS issues. What to watch for: Taking money without classifying it as payroll, distribution, or loan. Not charging interest or...
by Juliya Moody | May 7, 2025 | Accounting, Bookkeeping
The chart of accounts (COA) is often treated as a basic accounting tool—but when structured well, it becomes a growth engine. Tips to optimize your COA: Segment Revenue Streams: Break down sales by product line or service type. Track Costs by Category: Separate...
by Juliya Moody | May 6, 2025 | Accounting, Bookkeeping
One of the biggest tax compliance traps for U.S. businesses is sales tax nexus. Selling online? Serving customers in other states? You may owe sales tax—even if you don’t have a physical presence there. Common mistakes: Not tracking economic nexus thresholds (e.g.,...
by Juliya Moody | May 5, 2025 | Accounting, Bookkeeping
Think your inactive LLC is off the hook? Think again. Many business owners assume that if an LLC isn’t operating, it doesn’t require any maintenance. That assumption can lead to fines and state penalties. Here’s what you may not know: Most states require annual or...
by bookkeepingandaccounting | Apr 10, 2024 | Accounting, Bookkeeping
In fall of 2023, Bookkeeping and Accounting of FL went to a night feeding tour of Catty Shack Ranch Wildlife Sanctuary. Office staff had the added benefit of host Juliya Moody, owner of Bookkeeping and Accounting of FL, having been a volunteer at Catty Shack. She...
