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.

Profitability 55

Profitability Contractors Income IRS 55

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.

Contractors 48

Contractors IRS ABC Profitability 48

Buisness Facilities Contributed Content

APRIL 15, 2014

Income Tax Capital Credit: The Income Tax Capital Credit has been available since 1995. The enterprise zone credit is equal to $2500 per permanent new employee and can be applied against the income tax and/or business privilege tax liability. The tax for existing entities accrues as of Jan. The rates range from $.25

Income 108

Income Finance Zoning Employment 108

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?

Income 48

Income Profitability Construction Contractors 48

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?

Income 48

Income Profitability Construction Contractors 48

Buisness Facilities Contributed Content

MARCH 21, 2014

INCOME TAX CAPITAL CREDIT: Currently codified as Article 7, Chapter 18, Title 40, Code of Alabama 1975. It is a credit of five percent of the capital costs of a qualifying project, to be applied to the Alabama income tax liability or financial institution excise tax generated by the project income, each year for 20 years.

Income 75

Income Finance Zoning Equipment 75

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

Finance 48

Finance Accounting Construction Banking 48