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Contractors Are Confused About Bookkeeping

Posted by Sharie DeHart on Fri, Jan 27, 2017

Many of you may begin with the thought; I am just a contractor.

I don’t want to be the business owner; I just want to do the work.

That is what is important. Yes, doing the work is important. Keeping track of your hard costs, soft costs, general expenses and overhead is the difference between making a profit or having a loss.

Ignoring the costs do not make them go away; it just avoids putting them on the tax return. Any missed expenses make your profit on the job look higher than it really is and causes you to pay more income taxes because all net profit is taxable.

All businesses need to keep track of their company expenses, including the material and much more. Contractors usually go from one extreme (doing nothing) to the other (trying to count every bean, every paperclip, all the nails and, the scraps of 2x4’s). The balance is somewhere in the middle.

Labor is the biggest cost you will face. As an owner / operator, you're entitled to the same wages your construction company would pay for having another construction worker on the payroll. Otherwise, why not go to work for someone else?

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Topics: Restarting Contractors, Contractors

Beware Consultants Who Want Chunk Of Your Construction Company

Posted by Randal DeHart on Fri, Jul 01, 2016

As the economy is improving in mid-2016 we are seeing a disturbing trend of Business Consultants asking Contractors to make them a part owner of their Construction Companies in exchange for their services.

I had seen this nightmare come to life several times beginning in the 1970's when I started my Construction Company. It usually happens just as the economy starts to improve and demand for construction services is far greater than the supply of Contractors to fill the need.

There are a lot of seminars being put on by less than honest people promoting Get-Rich-Quick-Schemes for Business Consultants to take advantage of honest hard working contractors!There Are Several Parts To This Scam:

  • They Make You Think They Know More About Running Your Business Than You Do
  • They Want You To Pay For A Life Insurance Policy Naming Them Beneficiary
  • They Have A Network Of People Who Need Work Done At Low Rates And Provide Kick-Backs
  • They Slowly Get Control Of Your Construction Company And Work You To Death LITERALLY!
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Topics: Construction, Contractors

From New Contractors To Seasoned Builders We Know What To Do

Posted by Randal DeHart on Fri, Aug 14, 2015

From The Brand New Contractor To The Specialty Contractor, General Contractor, HandyMan and Spec Builder We Know What You Need QuickBooks To Do!

We spent over 20 years owning and operating construction companies including service and remodel firms. We sold our last construction company in the year 2000 which means we are not your competitor, rather the opposite. We are experienced contractors helping contractors get more from their accounting system.

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Topics: Contractor Bookkeeping Services, We Know Construction Accounting, Contractors

Working With Consultants To Help Your Contracting Company

Posted by Randal DeHart on Fri, Apr 24, 2015

Many business consultants contact us after they start working with Handymen, Contractors and Construction Company because they are frustrated with contractors who are having trouble earning a profit. Perhaps this article will shed some light that will help consultants and contractors understand each other and offer some tips that will benefit everyone.
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Topics: Construction Company, Construction Psychology, Business Consultants, Contractors, construction company strategy

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