Tax Deductions Vs Tax Credits
Understanding Tax Deductions vs. Tax Credits: A Contractor’s Guide 5 min readUnderstanding the differences between tax deductions and tax credits can significantly impact your financial planning. For contractors and business owners, understanding the difference between tax credits vs tax deductions is crucial for maximizing your tax benefits. While both reduce your tax burden, they work […]
Holiday Bonus Guide: How Construction Companies Can Reward Their Crew
The construction industry runs on hard work and dedication. When the holiday season rolls around, many construction company owners want to reward their crews for another year of showing up early, staying late, and getting the job done right. A holiday bonus can be the perfect way to show your appreciation—but there’s a right way […]
Bench Accounting Shutdown: What Business Owners Need to Know
In a shocking development that’s sent ripples through the small business community, Bench Accounting has abruptly ceased operations, leaving thousands of businesses scrambling to secure their financial records and find alternative accounting solutions. This sudden shutdown, occurring just weeks before tax season, has highlighted the vulnerabilities of relying on large-scale, automated accounting platforms. Immediate Impact […]
Tax Deductions for Independent Contractors
15 Essential Tax Deductions all Independent Contractors Need to Know As an independent contractor, understanding your available tax deductions is crucial for maximizing your take-home income. Before diving into the specific tax deductions for independent contractors available, let’s clarify what it means to be an independent contractor and how deductions work. What is an Independent […]
Contractor Accounting Software: Which One is Right for You?
The Ultimate Guide to Contractor Accounting Software: Top 10 Solutions Compared As a contractor, managing your finances efficiently can make the difference between project success and costly mistakes. The right contractor accounting software streamlines your operations, ensures accurate financial tracking, and helps maintain compliance. In this comprehensive guide, we’ll compare the top solutions to help […]
What Services Does Level Accounting & Advisory Provide?
And just as importantly, what services do we not provide? If you’re considering working with Level Accounting & Advisory, you likely have questions about exactly what services we provide and how they benefit your construction business. Let’s break down our core service offerings and explain how they work together to help contractors like you save […]
20 Tax Deductions for Contractors
As a contractor, your business faces unique tax challenges. But with the right strategies, you can maximize your tax deductions and keep more of your hard-earned money. Let’s dive into what a tax deduction is, the top 20 tax deductions for contractors, and how proper tax planning can save you thousands. What is a Tax […]
How much does accounting for small businesses cost?
Accounting Costs for Small Businesses: Let’s break it down Accounting costs for small business can vary considerably. There are a lot of factors that determine the price you’ll pay for services. Some pricing factors are based on your business – the complexity of your accounts, the services you need, etc. Other pricing factors include how […]
Section 179 Deduction: List of Vehicles & Tools That Qualify
If you’re a contractor looking to save some serious cash on your taxes, this one is for you! The Section 179 deduction is about to become your new best friend. This tax provision lets you deduct the full purchase price of qualifying equipment and software purchased or financed during the tax year. Yes, you read […]
Write Off Your Vehicle for Taxes: How to Guide
Learn how to write off your vehicle for taxes. Discover eligible expenses, calculation methods, and tips to maximize your deductions while staying compliant. Are you a business owner or self-employed individual looking to save some money on your taxes? There’s a lot of information out there about what you can and can’t do when it […]
