The Book Smith Bookkeeping

07/31/2026

Don't wait for tax season to get your books caught up. We'll help you clean up your financial records now to eliminate the stress from tax season!



www.thebooksmith.biz
[email protected]
641-780-9137

06/09/2026

Contractors - if you're looking for a great tool for job costing and an easy way to manage receipts in the field, give Dext a try.

• Quickly snap pictures of receipts in the field
• Assign to a job
• Sync with Quickbooks
• Done in 30 seconds
• Trash the receipt

https://dext.com/us

Follow The Book Smith Bookkeeping for more tips!

https://thebooksmith.biz/
641-780-9137

Dext is the leading bookkeeping automation platform that extracts expense data with over 99% accuracy.

05/30/2026

Confused about when you need to file and send a 1099-NEC? Here are some general guidelines:

> $2,000 annual threshold beginning in the 2026 tax year
> Only for payments made by cash, checks, or ACH/bank transfer to non-employees
> Only for payments made for services/labor - not for material purchases
> Not required for payments made to most S-Corps or C-Corps

Make sure to collect a form W-9 BEFORE making any payments to a new vendor. This will provide the business information you need to determine if you need to file and send Form 1099-NEC.

Grab the full cheat sheet at

Bookkeeping for Contractors, Home Services Pros, and Real Estate Investors

05/23/2026

Full Time by David Bahnsen is such a great book for our current time.

In a world convinced that AI will take all the jobs, it's a great reminder that God created humans to work, and that will never change.

Those who embrace this will excel. Work hard for the glory of God.

Highly recommend this read.

03/28/2026

Explore how The Book Smith Bookkeeping can support your business needs! Give us a call to learn how we can help improve your cash flow and increase your profits.

🔗 Check out our site and experience the benefits!

11/20/2024

How can a business be profitable and still run out of cash?
A common culprit is Accounts Receivable.

The invoices you send will show up as income on your financial reports, but that doesn't necessarily mean you have received the money. You still have to collect that cash from the customer.

So, keep an eye on your Accounts Receivable balance - there may just be thousands of dollars of "profit" waiting to be collected.

11/14/2024

For big-time tax savings, consider electing S-Corp status if you run your business in an LLC. Here’s how:

👉 LLC/Sole Proprietor: All net income is subject to self-employment tax (Social Security and Medicare - over 15%).

👉 S-Corp: pay yourself a “reasonable wage” as an employee of your corporation. You will pay self-employment tax on these wages. Take the remaining net income as “distributions”, which aren’t subject to self-employment tax, saving you 15% on that income.

👉 The more you profit, the more you save.

Talk to your CPA to see if this will work for you!

11/07/2024

Separate your business expenses from your personal expenses - you will thank yourself later and so will your CPA!