CO FAMLI Payroll Tax for Contractors: What You Need to Know
The Colorado Family and Medical Leave Insurance (FAMLI) program is a state-mandated insurance program designed to provide paid leave for employees facing life events such as the birth of a child, a serious health condition, or caring for a loved one. While the program primarily impacts traditional employers and employees, many independent contractors and small […]
Tax Season 2025 for Contractors: Get Your Bookkeeping Ready for Filing
As January 27th marks the official opening of the 2025 tax season, contractors across the country are preparing to file their business tax returns. For contractors, accurate and organized bookkeeping is more than just a formality—it’s the backbone of a successful tax season. Whether you’re a sole proprietor, an independent contractor, or a small business […]
Monthly Bookkeeping for Contractors: Why is it Important?
In the dynamic landscape of the construction industry, precise financial management is the cornerstone of success. Engaging professional bookkeeping services tailored to the unique needs of construction companies can unlock a world of opportunities, from enhanced transparency to optimized profitability. This comprehensive guide delves into the pivotal role of monthly bookkeeping for contractors, unveiling its […]
Xero for Contractors: Is It a Good Choice?
Introduction to Xero for Contractors With all that contractors must do for their business, efficiency and accuracy are main concerns. Xero is a cloud-based accounting software that can help contractors with managing their finances and keeping up with their bookkeeping. Xero for contractors can streamline tasks like invoicing, expense tracking, and project management. This guide […]
Profit First: Is It Right for Your Contractor Business?
Running a successful contractor business requires careful financial management and a focus on profitability. One method that has gained popularity in recent years is the Profit First method. This approach, developed by author and entrepreneur Mike Michalowicz, aims to prioritize profit in your business by changing the way you allocate your funds. In this article, […]
How to Avoid Paying Taxes as an Independent Contractor
Photo by ArtisticOperations on Pixabay Have you ever asked yourself on how to avoid paying taxes as an independent contractor? That usually comes with strict consequences and possible shutdown of your business. You must understand your tax obligations if you want to get ahead and pay less taxes. Since your clients are paying you as an independent contractor, […]
Bookkeeping Cleanup Pricing: Demystifying This Important Investment
Having to hear the words, “Your books need cleanup,” might be a business owner’s worst fear. Not knowing how pricing works for cleanups as well as worrying about cashflow can add to the stresses. In this article, we aim to demystify bookkeeping cleanup pricing and shed light on the importance and benefits of investing in professional bookkeeping […]
Do You Need Bookkeeping Cleanup Services?
Contractors are busy folks, managing everything from how their projects are doing to sales and marketing their business. It comes as no surprise that the number one thing on their to-do list that is pushed off the most is bookkeeping, especially if an issue arises that throws off the books. That’s where a bookkeeping cleanup comes in. […]
Driving Growth: The Essential Key Point Indicators for Contractors
Image Source: Unsplash Key point indicators for contractors can be what make or break a contracting business. As a contractor, you know that to gain sustainable growth, it’s super important to have a good understanding of the factors behind that growth. This is where Key Point Indicators (KPIs) can come in handy. KPIs are measurable […]
Contractor Balance Sheets: What to Focus On
Contractor balance sheets play a vital role in providing insights into the financial health and stability of a contracting business. For contractors, understanding the nuances of balance sheets and knowing what to focus on can be crucial for making informed financial decisions. In this blog post, we will delve into how contractor balance sheets might […]