The Profitjets Blog
Finance Writing for People Running the Business
Practical articles on bookkeeping, accounting, tax, payroll and financial strategy, written for founders and operators rather than for other accountants.
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What is Bookkeeping: A Step-by-Step Guide
What bookkeeping covers, how it differs from accounting, and the five-step process behind a clean set of books.
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Federal Tax Form 1040: A Complete Guide
What the form covers, which schedules attach, and who has to file.
Federal Tax Liabilities: What Is It?
What you owe, when it accrues, and what happens if it is not paid.
Federal Tax Single vs Married: How to File It?
How filing status changes the bill, and which option suits which couple.
Federal Tax in Florida: What Residents and Businesses Need to Know
Florida: No State Income Tax, Federal Income Tax Still Applies to Floridians, and Florida State Taxes That DO Apply.
Federal Tax in Illinois, A Beginner's Guide
Federal obligations alongside the Illinois flat rate.
Federal Tax in Massachusetts, A Beginner's Guide
Federal obligations, the state flat rate, and the millionaires surtax.
Federal Tax in Nevada: No State Income Tax, What You Need to Know
Nevada Has No State Income Tax, Federal Income Tax Still Applies, and Nevada Business Taxes: What Applies Instead.
Federal Tax in New York, A Beginner's Guide
Federal, state and, inside the city, a third layer.
Federal Tax in North Carolina, A Beginner's Guide
Federal obligations plus a state rate that is on its way down.
Federal Tax in Tennessee: No State Income Tax After 2021
Tennessee: Fully No State Income Tax Since 2022, History: The Hall Income Tax, and Federal Income Tax Still Applies.
Federal Tax in Texas, A Beginner's Guide
What Texas businesses owe federally, and what the state does not charge.
Federal Tax in Washington State: No Income Tax, But Watch These
Washington State: No Individual Income Tax and Federal Income Tax Applies to All Washington Residents.
Federal Tax on Capital Gains: How It Works?
Short-term against long-term, and how losses offset the bill.
Federal Tax on Gambling Winnings, How Does It Work?
What is reportable, what is withheld, and how losses are treated.
Federal Tax on Retirement and Pension Income: What Retirees Need to Know
Overview: Retirement Income and Federal Tax, Social Security Benefits: 0-85% Taxable, and Traditional IRA and 401(k).
Federal Tax vs State Tax: Key Differences
Two tax systems running side by side, and what each one takes.
Federal and State Tax in Georgia: 2026 Guide
Georgia State Income Tax, Georgia Standard Deductions, and Georgia Corporate Income Tax.
Federal and State Tax in Michigan: 2026 Guide
Michigan State Income Tax, Local Income Taxes in Michigan, and Michigan Corporate Income Tax.
Federal and State Tax in Ohio: 2026 Guide
Ohio State Income Tax, Commercial Activity Tax (CAT): Ohio's Business Tax, and Local Income Taxes in Ohio.
Filing Business Taxes for an LLC for the First Time: A Comprehensive Guide
Closing the books first, then the classification, then the deadlines.
Form 1065 Schedule B: Other Information for Partnerships
Overview of Schedule B Questions, Line-by-Line Key Questions, and Common Errors on Schedule B.
Form 1065 Schedule L: Balance Sheet per Books for Partnerships
Who Must Complete Schedule L, Structure of Schedule L, and Tax Basis Capital vs Book Capital.
Form 1065 Schedule M-3: Net Income (Loss) Reconciliation for Large Partnerships
Who Must File Schedule M-3, Three Parts of Schedule M-3, and Penalties for Non-Filing.
Form 1099-R: Reporting Retirement Plan Distributions and Passive Income
Who Issues Form 1099-R, Key Boxes on Form 1099-R, and Distribution Codes (Box 7), The Most Important Box.
What we write about
Eight topics we come back to
Pick a topic and the library above filters to it.
Bookkeeping
Clean books, reconciliations, chart of accounts and month-end close.
Accounting
Close process, financial statements, cash against accrual, and reporting that gets used.
Tax
Preparation, planning, entity choice, deductions, quarterly estimates and the IRS forms behind them.
CFO
Forecasting, cash flow, fundraising readiness and the executive roles founders confuse.
Payroll
Withholding, payroll taxes, W-2s and 1099s, and multi-state teams.
Metrics
The ratios and statements that tell you what is actually happening in the business.
Software
QuickBooks, Xero, NetSuite and the tools that feed them.
Business Finance
Entity formation, banking, budgeting, funding and getting the finances in order.
Would You Rather We Just Did It?
Reading about reconciliation is useful. Not having to do it is better.