At Taxdrill LLC, we specialize in precise, compliance-ready business analysis that bridges the gap between cash flow tracking and tax accounting. Our goal is to help entrepreneurs, sole proprietors, and small businesses understand what truly matters for tax filing, financial clarity, and operational efficiency.
🔍 What We Do
- Break Down Credit Card Statements
We extract and categorize deductible purchases from monthly credit card activity, distinguishing between business expenses and repayments. This ensures only tax-relevant items are included in your Schedule C summary. - Clarify Zelle Transactions
We investigate incoming and outgoing Zelle payments — including those from individuals like Tariq — to determine whether they represent taxable income, reimbursements, transfers, or personal activity. - Build Clean, Tax-Focused Summaries
Our Schedule C-style reports isolate deductible expenses and taxable income, excluding transfers and repayments that could distort your financial picture. - Reconcile Merchant Deposits with Sales Receipts
We match merchant account deposits (e.g., Mr. Exotix) to actual sales activity, ensuring your reported income aligns with your business operations. - Review and Categorize Purchases
Amazon, Uber Eats, and other mixed-use vendors are reviewed line-by-line to determine business relevance. We flag personal items and retain only deductible purchases. - Confirm Business Purpose for Transfers
Zelle payments and internal transfers are analyzed for business intent. Without proper context, these can inflate expenses or misrepresent income — we make sure they’re treated correctly.
🧾 Accounting Philosophy
- Cash Flow Accounting
Includes all activity: income, expenses, transfers, repayments. Useful for operational tracking but not for tax filing. - Tax Accounting
Focuses only on deductible expenses and taxable income. We exclude transfers, repayments, and non-deductible items to maintain IRS compliance. - Avoiding Misclassification
Including credit card payments or Zelle transfers without context can lead to overreported expenses or underreported income. We ensure every entry is properly classified.
📦 Additional Considerations
- Depreciation & Amortization
We account for non-cash expenses like equipment depreciation and intangible asset amortization when applicable. - Inventory Costs (COGS)
Inventory purchases are tracked separately and categorized under Cost of Goods Sold, not general expenses. - Documentation Support
We help you retain and organize receipts, statements, and digital records for every tax-deductible expense.
✅ Outcome
You get a clean, audit-ready financial summary that reflects your true business activity — not just your bank balance. Whether you’re preparing for tax season or seeking clarity on your monthly operations, our analysis ensures accuracy, transparency, and peace of mind.