IRS Empoloyee Vs Independent Contractor

IRS Employee Vs Independent Contractor Reclassification

IRS employee vs independent contractor reclassification is sometimes necessary as your business evolves. In this blog we’ll demonstrate how to protect your business and stay in IRS compliance. How to Reclassify Your Workers to Stay in Compliance As a general contractor, you’re familiar with and successful at running jobs and completing projects. This is in…

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Bookkeeper Vs Accountant - Bookkeeping Vs Accounting

The Distinction Between Bookkeepers and Certified Public Accountants

Bookkeeper Vs Accountant – Bookkeeping Vs Accounting Bookkeeper Vs Accountant as well as bookkeeping vs accounting have distinct differences. Discover the differences & why have both is necessary for success. Understanding the Roles within Your Financial Team You’ve seen the words CPA and bookkeeper used a lot, sometimes interchangeably. Maybe it’s been a source of…

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IRS Independent Contractor Test

The Independent Contractor Test

Classifying workers appropriately is important for your financials and the IRS Independent Contractor Test can help you determine if you are classifying workers correctly. IRS Independent Contractor Test: Is Your Worker an Independent Contractor or an Employee? Most general contractors and subcontractors will run into this situation at some point in their careers – is…

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Preliminary Lien Notice or Pre-Lien Notice

Notice of Right to a Lien

Understand Your Rights and Protect Your Jobs – A Guide for General Contractors Preliminary Lien Notice or Pre-Lien Notice As a contractor, you know there are several steps involved in starting a new job. From initial assessments, defining the scope of work, securing subcontractor estimates, hiring subcontractors, finding suppliers, signing contracts and more: there’s a…

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Bookkeeping for Beginners - Bookkeeping 101 for Contractors

Beginner’s Bookkeeping

Bookkeeping for Beginners – A Contractor’s Guide Breaking Down Bookkeeping Our Bookkeeping for Beginners blog is designed to give construction contractors a basic understanding of accounting as a first step towards understanding your company’s health and profitability. Bookkeeping – the word itself is a little intimidating. To be the keeper of books, what does it…

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Business Expenses - which are tax deductible?

Business Expenses

What Business Expenses Should You Write Off? The Basics Ah, business expenses. The allure, the luxury, the… confusion? Often when thinking of a standard business expense, the same image comes to everyone’s mind… charging a lunch on the company card. Hey, who doesn’t love free lunch? I know I do. But, business expenses are much…

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Owners Draw

Personal Draws

Owners Draw (Owner’s Draw) An Expensive Shortcut for Contracting Businesses If you’re like most contractors, you’ve been guilty of it at one time or another: taking an owners draw from your business checking account. It’s tempting, it’s easy, it’s your money, right? Unfortunately, it’s also one of the worst habits you can develop as a…

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