Bookkeeping for LLCs: What is the Best Approach for Contractors?
As a contractor operating as a Limited Liability Company (LLC), managing your finances is crucial for the success of your business. Proper bookkeeping not only ensures compliance with regulations but also provides valuable insights into the financial health of your LLC. In this blog post, we’ll explore the best bookkeeping practices for LLCs, tailored specifically […]
1099 Contractor Report in QBO: How to find it?
For contractors of all types, from painting, HVAC, plumbing, and more, hiring 1099 contractors is a common expense. As we are now in the middle of the 1099 filing season, which ends January 31st, it’s important to know who you need to file for and how to find the 1099 contractor report in Quickbooks Online. […]
How to Analyze Your Contractor Year-End Numbers
With the end of one year and the start of another, contractors are finally able to take a step back and evaluate how their year-end numbers look. This doesn’t have to just be about crunching financial figures; it’s also a time to review what went right in the previous year and what not to repeat. […]
Contractor vs Employee: How to know the difference?
When the need for help arises, it’s always a tricky situation on whether to bring on a contractor vs an employee, one that can bring either the help you were looking for or an extra paperwork headache later on. Some things to keep in mind are what you’re looking for in your help (long-term commitment […]
The (Cyber)- Security of Contractor Bookkeeping
Between managing projects, deadlines, and finances, making sure your and your clients’ digital data is secure is usually pushed aside. But whether you’re a seasoned contractor or just starting, it’s important to understand the value of cybersecurity coupled with your recordkeeping to make sure the success and longevity of your contractor business. In this blog […]
The Impact of Technology on Contractor Bookkeeping
Technology is pivotal in transforming traditional practices in the ever-evolving landscape of contractor bookkeeping. As a leading bookkeeping firm catering to contractors and tradesmen, we understand the significance of staying ahead of the curve. In this blog post, we’ll explore the impactful trends technology has introduced to contractor bookkeeping, providing insights that can help businesses thrive in […]
Contractor’s Dilemma: Choosing the Right Bills to Pay First
As a contractor, managing your finances can often feel like a juggling act. With various expenses and bills piling up, it’s crucial to prioritize your payments effectively to maintain a healthy financial balance. In this blog post, we’ll explore some practical tips to help you determine which bills to pay first, ensuring that your business […]
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 […]
Want to Hire? This Should Be Your First Step
When you’re growing a business it’s always hard to know when is the next step to take. Things like when to hire, when to open up a new office are hard to figure out. With hiring there are certain steps you want to take before you get to the point of finding the right person. […]
What You Need to Figure Out Your Profit Margin
When scaling your business, the number one thing you want to keep in mind is your profit margin. Profit margins are how much you are making with each project minus any overhead costs. Percentages do vary with 4 to 6% for commercial contractors. It can also get up to 23% for residential contractors like remodelers. […]