Independent Contractor and Employee Classification

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 part due to the great team you’ve assembled. Your crew might consist of employees, subcontractors, independent contractors, or some combination of the three. For the most part,…

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The Distinction Between Bookkeepers and Certified Public Accountants

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 confusion for you in your hunt for back office support for your contracting company. We want to clear up the definitions of each so you can look for the help…

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The Independent Contractor Test

Classifying workers appropriately is important for your financials. 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 your new worker an independent contractor or an employee? Well, luckily for those who find themselves in this situation, the…

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8 Key Contractor Habits

Create Your Best Contracting Business Contractor Habit 1: Get in the Habit of Goal Setting Do yourself a huge favor and get into the habit of running your contracting business with intention. Go out of the way to write down the goals you have for your company and its future. Studies show that making this…

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Man measuring project

Notice of Right to a Lien

Understand Your Rights and Protect Your Jobs – A Guide for General Contractors Notice of Right to a Lien 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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Calculating budget and expenses

Beginner’s Bookkeeping

A Contractor’s Guide Breaking Down Bookkeeping Bookkeeping – the word itself is a little intimidating. To be the keeper of books, what does it even mean? In the world of bookkeeping, records and attention to detail are everything. Recording your revenue and expenses will put you on track to understanding profit and loss. These are…

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Business Expenses

What 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 more involved…

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Personal Draws

An Expensive Shortcut for Contracting Businesses If you’re like most contractors, you’ve been guilty of it at one time or another: taking personal draws 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 business owner – one that…

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