It can get confusing when you’re trying to figure out the pros and cons of structuring your company as a C Corporation or an S Corporation. There are some definite tax advantages of S Corp for general contractors, especially for the solo entrepreneur. So we thought...
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7 Pros and Cons of LLCs for General Contractors (and 2 Tax Options to Consider)
Walt Disney once said, “The way to get started is to quit talking and start doing.” When it comes to setting up your business, though, there are several ways to “start doing.” You may have a great idea and be really excited about taking your first steps, but what...
7 Pros and Cons of Partnerships for General Contractors (A CPA’s Perspective)
Helen Keller once said, “Alone we can do so little; together we can do so much.” That’s essentially the idea behind companies that decide to form as a partnership. Earlier in this series on the different types of businesses, we talked about “Sole Proprietor Pros and...
Sole Proprietor Pros and Cons (6 Important Things to Know)
Starting your own general contracting business can be exciting. You get to be your own boss, and your earning potential is only limited by your effort. But it can be an intimidating process too. Where do you begin? How do you know if you’re setting your business up...
3 Important Things You Need to Know About Working With Family Members
As we move into the last quarter of 2021, we wanted to give you some small business tax tips to help you close out your year successfully. In this post, we’ll focus on everything you need to know about employing family members and how that affects your taxes. Starting...
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Entry-Level Accounting Positions: How To Start Your Career On The Right Foot
Attention, job seekers! Are you interested in the best way to secure entry-level accounting positions? Then this post is for you. We’ll explore what hiring managers are looking for, what a good starting salary would be, what kind of experience you need (or don’t...
Operating Lease vs Finance Lease: How New Rules Will Affect Your Small Business
In an earlier post on new lease accounting standards and how they can impact your business, we discussed a couple of different types of leases. Because most business owners are involved with renting some type of property or equipment regularly, we thought it might be...
9 Types of Accounting Jobs To Consider If You’re Looking For An Interesting Career
If you’re wondering what types of accounting jobs are available to college grads and job seekers with accounting degrees, you’ve come to the right place. We’re a CPA firm that’s been around a while (40 years and counting), so we’ve seen a thing or two. One thing we...
How Farm Bookkeeping Can Sow Seeds of Success In Your Ag Business
Farm bookkeeping isn’t exactly like bookkeeping for ordinary businesses. In the “non-ag” world, tracking transactions is fairly straightforward. But on the farm, things move at a different pace. The physical aspects of running a successful farm are tough enough....
New Lease Accounting Standards (And How They Can Impact Your Business)
Many businesses are involved with some type of leasing or rent-to-own transactions. Some lease property while others lease equipment to run their operations. Others are the ones leasing those things out to others as a source of revenue. New lease accounting...