Contractor Bookkeeping
OCTOBER 13, 2017
Next review your Estimated personal Taxes paid to the IRS. Contractors who file as a Sole Prop or as an LLC fining as a Sole Prop tend to forget that payroll taxes on their net income is due. I call this “Chef’s Surprise” as it is based on Net Income. Now is the time if you have not already been taking payroll.
Construction Law Monitor
JUNE 2, 2011
However under this bill, the definition of ‘small contractor’ will enable more contractors to report contra ct income at the conclusion of their jobs.” Instead, contractors are required to use the percentage-of-completion method (PCM) which does not accurately reflect profits because of the required use of estimates.
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Contractor Bookkeeping
JANUARY 5, 2013
One of the most profitable business resolutions you can make is to start out the New Year by converting your construction company to an S-Corporation because it could reduce your tax burden! Do you see growth in sales and profits in the coming months and years? Do you want to grow your sales and profits?
Contractor Bookkeeping
JANUARY 5, 2013
One of the most profitable business resolutions you can make is to start out the New Year by converting your construction company to an S-Corporation because it could reduce your tax burden! Do you see growth in sales and profits in the coming months and years? Do you want to grow your sales and profits?
Contractor Bookkeeping
AUGUST 6, 2014
1 Your Profit & Loss and Balance Sheet Reports do not conform to financial industry standards. #2 According to the FBI [link] in 1931, the IRS took down the alleged gangster Al Capone by “Reverse Engineering” his financials using some of the tools provided by The Risk Management Association. Five Red Flags To Avoid. #1
Contractor Bookkeeping
AUGUST 29, 2014
Other examples of cash inflows are borrowed funds, income derived from sales of assets, and investment income from interest. Is Cash Flow The Same As Profit? While they might seem similar, profit and cash flow are two entirely different concepts, each with entirely different results. Cash is king!
Buisness Facilities Contributed Content
MARCH 8, 2016
A minimum of 60% of the jobs created must be filled by low and moderate income persons. No Broad-base Income Tax. The credit is $1,000 for any new, full-time year-round jobs applied to the Business Enterprise Tax; any unused portion of the credit can be applied to the Business Profits Tax. TAX INCENTIVES. No Sales Tax.
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