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 […]
The Importance of Keeping Good Records
In the thrilling journey of entrepreneurship, every step you take and every decision you make contributes to the story of your business. Amidst the excitement of chasing dreams and making your mark in the market, there’s a mundane yet incredibly vital aspect that often gets overlooked: good bookkeeping records. Now, I know, the term might […]
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 […]
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 […]
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 […]