Choosing the Right US Business Type: A Simple Guide
Starting a business in the US involves making some big decisions, and the first one is picking the right business type. This choice affects how you’ll be taxed, how much risk you’ll take on, and how you’ll run things. Let’s break down the different options in plain language. 1. Sole Proprietorship What’s Important: This is like […]
How to Know: Is That Business Expense Tax Deductible?
Hey there, hardworking tradesmen! We know you’re busy fixing pipes and keeping HVAC systems running smoothly. But amidst your daily grind, you must understand which business expense you can deduct from your taxes. Let’s unravel the mystery of tax deductions and help you maximize your hard-earned money! Make sure your expenses are ordinary and necessary for your […]
Take advantage of the S-Corp transformation
Welcome, fellow entrepreneurs and visionary adventurers, to a journey where we unravel the hidden gems of the business world! Today, we dive into the captivating realm of LLCs and their enchanting transformation into S-Corps. Prepare to be inspired as we embark on a quest to unlock the advantages of electing to be an S-Corp as an […]
Tracking Bills in QBO: Useful or Not?
As a tradesman, keeping track of bills can be a hassle. With countless expenses ranging from equipment and supplies to gas and travel costs, managing finances can quickly become overwhelming. However, QuickBooks Online offers a streamlined solution to effortlessly manage and track your bills in one convenient place. So, why should you track your bills […]
Why Setting Money Aside Now Will Give You a Better Winter Season
t can be easy to get pulled into the excitement of the busy season. Your schedule is getting filled up, as is your bank account. You and your crews are all over the place, doing estimates, setting up jobs, completing jobs, and all the fun stuff that comes from a busy summer. It’s so easy […]
Adding Personal Accounts to QBO: Why it’s Best to Avoid
As a small business owner, you might start off using your personal accounts in your business. Naturally, you add these to your Quickbooks Online. However, this can lead to a number of problems down the road. In this blog post, we’ll take a look at why it’s a bad idea to add personal bank and credit […]
The Amazing Benefits of Having a Bookkeeper
As a business owner, you have a lot on your plate. You’re managing employees, overseeing operations, and making critical decisions that impact the success of your business. However, one area that’s often overlooked is bookkeeping. Having a bookkeeper can make a significant difference in the success of your business, and here are some key differences between […]
Why You Need to Have a Powerful Tech Stack
It’s the 21st century, but many residential service businesses still use older techniques. They send out paper invoices, get a physical check, and take it to the bank to deposit it. They may only keep track of their clients using a folder system or their memory. Estimates are done through a visual inspection only without […]
Is a Bookkeeper Important for Your Business?
When thinking about hiring new staff, the primary focus often falls on those who can directly drive sales. This is especially true when scaling your business. However, it’s essential to ask yourself some critical questions: Can you afford to hire an employee? Do you know which sales stream is the most efficient? A bookkeeper can […]
Quickbooks Desktop or Online: Which is Better?
Your business has reached the point that you need to move off of Excel spreadsheet tracking. Quickbooks is the most popular choice, but which do you choose: Desktop or Online? What are the differences between the two? Does it matter which one you pick? Let’s take a look at some things that might help you […]