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Andrew Bloom

@profit_logic

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Accounting & Bookkeeping Tips. Find out more at www.profit-logic.com

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Did you know you can get a tax deduction for charitable giving even if you DON'T itemize?

Non-itemizers can take an above-the-line deduction for cash donations (up to $1,000 for single filers / $2,000 for joint filers).

(Note: Above-the-line, AGI income is the total income before taking into account either the standard deduction or an itemized deduction)

That reduces your taxable income before taking the standard deduction! Keep those receipts this holiday season!

#TaxTips #TaxSeason #PersonalFinance #FinancialLiteracy #TaxPlanning by @profit_logic

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5 hours ago

What a year 2026 has been! It’s easily been the biggest year of growth for my business, as well as my life in general.

I am currently serving over 15 businesses with ongoing bookkeeping, while also helping a handful of companies get caught up so they can start doing their own books from an accurate and fresh start.

There's also a DIY bookkeeping course I'm building (albeit, slowly). which I hope to publish before year's end.

Finally, I recently discovered that Oregon will no longer require credentialed EA's to take the Oregon State Tax Licensure Exam in order to legally prepare tax returns in the state.

Therefore, I'll be taking my final EA exam in the next few weeks! I'm looking forward to the ability to provide tax services on top of accounting support. Adding tax preparation and strategy directly alongside accounting support is a huge 2027 milestone for how I will serve my clients.

I'm feeling healthier, steadier, more active, and more energized than I have in months!

I love working with small businesses as a small business owner, myself. It's my goal to help soloprenuers, freelancers, and SMB's feel empowered by bookkeeping and accounting rather than fearful of it, whether doing it by themselves or with the help of a bookkeeper.

Thank you to everyone who has supported this journey so far!

If you or a business owner you know needs help getting books caught up before year-end, send me a message—I’d love to connect!

#SolopreneurLife #FreelanceSupport #SmallBusinessOwner #SMBGrowth #EntrepreneurMindset by @profit_logic

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a day ago

Waiting until tax season to organize your accounting is a decision fraught with ill-tidings. (Talk about financial archaeology!)

I take it you're a responsible business owner who wants to make sure you're building a foundation for long-term sustainability.

So what should you do instead?

How often you maintain your books depends entirely on your business structure and transaction volume:

A) SOLE OWNER / LOW TRANSACTION VOLUME:
Minimum frequency: Monthly.
Goal: Reconcile bank accounts, clear the bank feed, and review your Profit and Loss statement at the close of every month.

B) GROWING SMALL BUSINESS / MULTIPLE EMPLOYEES OR VENDORS:
Minimum frequency: Weekly.
Goal: Match bank feeds, pay vendor bills, send customer invoices, and review Accounts Receivable to ensure cash flow stays positive.

If you wait longer than a month, receipts get lost, you forget what the transactions were for, and decision fatigue compounds. That sounds painful.

Best suggestion? Maintain your books weekly or monthly to keep full control of your business. It's an activity that helps you build trust not only in your business but also in yourself.

#BookkeepingTips #SmallBusinessFinance #FinancialArchaeology #AccountingForBusiness #BusinessSustainability by @profit_logic

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2 days ago

If you enter a vendor expense as an invoice, your backend reporting is completely broken.

Here is the exact difference between Invoices and Bills:

INVOICE: A document you send to a customer demanding payment for products or services delivered. It increases your Accounts Receivable (money owed to you).

BILL: A document you receive from a vendor or supplier that you must pay later. It increases your Accounts Payable (money you owe to others).

The pitfall: When business owners record a vendor bill as an invoice, QuickBooks treats it as incoming revenue instead of an upcoming expense.

Invoices track customer income. Bills track vendor liabilities. Mixing them up distorts both your Profit and Loss statement and your Balance Sheet. Terminology matters!

#BookkeepingTips #AccountingBasics #SmallBusinessAccounting #InvoicesVsBills #QuickBooksOnline by @profit_logic

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3 days ago

Make Your Bookkeeper Cry By Doing These 3 Things...

Are you accidentally making your bookkeeper cry? 🥲 In this video, I’m breaking down the Top 3 Mistakes that secretly drive your bookkeeper (and accountant) up the wall—and could be costing your business BIG money!

🎉 If you enjoyed the accounting humor and learned something new, hit that ❤️ button and Follow for more real talk about business finances!

#SmallBusiness #Bookkeeping #EntrepreneurTips #FinanceHumor #TaxSeason #BusinessMistakes by @profit_logic

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16 days ago

Who else has big ideas but chokes up when it comes time to actually sit down and work through the details?

For the 15-Minute Bookkeeping Blueprint course I’m building, I’m currently designing lesson plans and writing scripts for each video.

And there’s a flurry of thoughts running through my mind:

- How do I make each lesson short and digestible without sacrificing depth?

- Am I explaining concepts at a level that’s accessible to beginners without boring people who already have some experience?

- Are the examples actually interesting, fun, and engaging?

When it comes to creative and educational work, I run the risk of becoming petrified by perfectionism.

A two-hour writing session that could produce multiple lessons can easily turn into a two-hour dissection of a single explanation.

At that rate, this course would take me a year to finish. 😂

There’s nothing wrong with slow productivity or taking time to craft something well.

But I feel an urgency with this project because I want to solve a real need before the next tax season: better bookkeeping and accounting education for business owners who aren’t ready to hire a bookkeeper yet.

At the same time, I have a business to keep building. Systems to create. Eventually, an assistant and more bookkeepers to hire. Tax preparation services I want to expand into.

Being a solopreneur can be overwhelming when everything feels important.

So I keep coming back to a motto I learned in grad school: “Go for done, not perfect.”

This course will probably have multiple versions. I’ll learn from student feedback. Some lessons will need to change.

I have to allow for messy. I have to allow myself to miss the mark sometimes. Because building something valuable also means giving yourself room to actually build it.

#Bookkeeping #SmallBusinessOwner #Solopreneur #Entrepreneurship #BusinessEducation #ProgressNotPerfection by @profit_logic

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18 days ago

If your bookkeeping is bad, your accounting is wrong, and your tax return is subject to audit risk.

Think of your finances as a chain reaction:

Bookkeeping captures the data.

Accounting analyzes the data.

Tax Prep reports the data.

If link #1 breaks, the whole system falls apart. The minutiae matters! Clean bookkeeping isn't just about tax season - it’s how you protect your financial accuracy and keep your business audit-proof year-round.

#Bookkeeping #Accounting #TaxSeason #SmallBusinessTaxes #SmallBusiness #BusinessOwner #Finances by @profit_logic

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19 days ago

Double-Entry Accounting EXPLAINED (But You Have ADHD)

Every transaction hits 2 accounts. One goes up, the other goes down. Or both sides of the equation adjust.

Keeps your books balanced, so your reports and taxes stay accurate!

#AccountingBasics #DoubleEntry #Bookkeeping #FinanceTips #SmallBusiness #Entrepreneurship #Business101 #FinancialLiteracy #ReelsOfInstagram by @profit_logic

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20 days ago

Balance Sheet Explained (But You Have ADHD) :

Your business snapshot: what you own (assets), what you owe (liabilities), and what's left (equity). Assets always equal liabilities + equity. It's your financial position, not profit. Own more, owe less, grow leftovers! #BalanceSheet #BusinessFinance #Accounting101 #FinancialLiteracy #StartupTips #SmallBusiness #BizTips #Entrepreneurship #FinanceExplained #BalanceSheet #Bookkeeping #ProfitLogic by @profit_logic

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21 days ago

Get your EIN for free on the IRS website! Then, open separate business bank accounts to avoid commingling funds. Protect your LLC's legal armor. #BusinessTips #Entrepreneurship #LLC #EIN #SmallBusiness #FinanceTips #BusinessBanking #Startup by @profit_logic

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21 days ago

Even if you put the meal on a business credit card, it doesn't mean you'll be able to deduct it as a business expense!

💰 Business meals can be 50% deductible.

Qualify by dining with clients or partners while discussing business, or during overnight work travel.

Yes, even solo meals count when you're on the road for work! #BusinessTax #TaxTips #EntrepreneurLife #SmallBusiness #TaxDeductions #BusinessFinance #MoneyHacks #WorkSmarter by @profit_logic

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22 days ago

How to actually take money out of your business (without ruining your taxes) 💸👇

If you’re a Sole Proprietor or Single-Member LLC, paying yourself is simple:
1️⃣ Transfer funds from your business checking to your personal checking.
2️⃣ Category in your books: Owner’s Draw.

You don't need formal payroll—all profits automatically flow through to your personal tax return at tax time.

If you’re an S-Corp, the rules shift:
The IRS requires active owners to receive an official payroll salary with tax withholdings (using tools like Gusto or your accounting software).

⚠️ The Non-Negotiable Rule:
Don't forget taxes! Every single time money hits your account, transfer 15%–30% straight into a business savings account for taxes. Never treat incoming gross revenue as spending money.

Save this reel for when you need to run your numbers! 📌

How are you currently paying yourself? Drop your questions below! 👇

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#SmallBusinessFinance #LLCSetup #PayingYourself #OwnersDraw #SCorp #BusinessTaxes #BookkeepingTips #SmallBusinessOwner #FinancialMindset #ProfitLogic #TaxSavings by @profit_logic

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23 days ago