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You can build anything…but if your numbers aren’t tracked, your business will bleed money and you won’t even know where
If you’re a construction contractor still operating under your personal name… or worse… as a “side hustle” with no business
If you’re running jobs off:📲 texts🗒️ notebooks📌 sticky notes📁 random photos🧾 scattered paperwork …it might feel manageable… Until it’s not.
Most contractors think S-Corps are only about:💰 “Saving self-employment tax.” But here’s a different benefit that can matter a LOT—especially
Everyone wants an S-Corp for one reason: 🟣to reduce self-employment tax But here’s the part contractors mess up: 🟣You can’t
Most contractors don’t overpay taxes because they make too much…They overpay because they miss deductions they’re legally allowed to claim.
The IRS says you can deduct… ✔ $𝟮𝟱. Not $250. Not “most of it.” 𝗧𝘄𝗲𝗻𝘁𝘆-𝗳𝗶𝘃𝗲 𝗱𝗼𝗹𝗹𝗮𝗿𝘀. 😑 And believe it
BRRRR = Buy, Rehab, Rent, Refinance, RepeatAnd if you’re in construction, you already control the hardest part: the rehab. Here’s
If your company reimburses you (or your employees) for business mileage, read this carefully. Most contractors assume: “I get reimbursed
The IRS just finalized rules tied to SECURE 2.0, and while they sound “retirement-focused,” they matter more to construction business
Contractors often spend real money trying to buy:• Another construction company• A specialty trade shop• A competitor with crews &
Quick IRS rule:👉 Work clothes are not deductible unless they’re not suitable for everyday wear. ❌ Not deductible:Jeans, hoodies, T-shirts,
If you’re a contractor or builder selling real estate and paying capital gains tax, there’s a good chance you’re overpaying.
If you run a construction company, you already know the pain:🚧 Crews on the road🏨 Hotels, meals, incidentals🧾 Lost receipts
The Energy Efficient Home Builder Credit (IRC §45L), a federal tax credit worth up to $5,000 per home or apartment
This saying is very accurate. In my experience those who I’ve witnessed grow significant wealth and scale in a 2-5
Between job sites, crews, retainage, and cash flow swings, tax deadlines will sneak up on you. Here are the 𝗸𝗲𝘆
1/8 Stop guessing your profits. Know them.Automate financial tracking with QuickBooks Online.→ Application: Sync bank feeds, credit cards, and vendor
1️⃣ Maximize Home Office Deductions → Calculate square footage of your workspace. Multiply by $5 for a simplified deduction up
Underpaying yourself is the #1 reason S-Corps get audited—and it’s how contractors end up owing back payroll taxes, penalties, and
On Christmas Day, I wanted to do something simple and meaningful for contractors who are planning ahead for the new
As the year wraps up, I just want to say thank you to the contractors we work with every day.
Yes—income splitting can be legitimate. But only when it’s real, documented, and defensible. What income splitting is not:• Hiding income•