TAX STRATEGY
FOR CONTRACTORS
Where the real tax savings happens
Protect your profits with strategic tax planning
Tax strategies for contractors is more than just finding deductions at tax time – it’s a year-round approach to protecting and maximizing your construction company’s profits. Instead of waiting until tax season, we help you make smart financial decisions throughout the year that reduce your tax burden and keep more money in your pocket.
Through proactive planning, you can take advantage of tax-efficient strategies for:
– Equipment purchases
– Payroll structure
– Retirement planning
– Hiring your children & more
Plus, you’ll gain peace of mind knowing exactly where you stand financially. No more year-end surprises or scrambling to find deductions – just a clear roadmap for managing your taxes and growing your wealth.
is your current accountant helping you save?
Here's a checklist to find out:
- How often do they meet with you?
If you’re only meeting with your accounting team to prepare and file taxes – they are not tax planning or strategizing with you. Tax strategy happens throughout the fiscal year. Tax return preparation and filing is just putting everything together and reporting it.
- Do they review your bookkeeping on a monthly basis?
We perform and review our clients bookkeeping with them every month. Why? Because accurate, up-to-date bookkeeping is the foundation of accurate tax planning. We can’t make sound tax strategies for you if we don’t know the numbers.
- Are they advising you on the most tax-efficient ways to spend?
You should be able to call your accounting team before you make any large purchases or investments and get advice on the best way to do it to minimize your tax liability.
This contractor saved $31K in taxes in 2023
Let’s Review a Case Study:
Jacob, the owner of a $3M roofing company met with us in early 2023.
He felt he was paying too much in taxes & wanted our opinion.
We reviewed his bookkeeping – there were missing deductions and hundreds of thousands of dollars misclassified. He had multiple dual incomes reported.
He was only meeting with his accountant to file a tax return.
We took over his bookkeeping and corrected the errors (immediate $10K tax savings).
We implemented two specific tax strategies for contractors that helped him save another $21K.
Want to save like Jacob? Click Below.
FREE RESOURCE
Your Guide to Set Up Subcontractors the Right Way
Are you having trouble collecting information from your subcontractors? Download our “Subcontractor Checklist Packet” to know what you need from them for 1099’s, workman’s comp, and liability audits. We’ve even included a contract for reduced liability!
