Accounting for Contractors, Service Professionals, and Other Small Businesses
When you serve your customers as an independent contractor or some other sort of service professional, you know how important it is to be able to focus 100% on your clients. You aren’t just shipping products out the door to faceless customers. You’re interacting daily with real people who need what you do!
If a big part of your day is spent dealing with paperwork and other financial obligations, that’s time and attention being stolen from the people who pay your bills! At CRS CPA, we are helping you serve your customers when we take those burdens off of your shoulders.
We have provided bookkeeping, accounting, and tax services to law firms, independent contractors, home service professionals, trucking companies, and other small business owners for the past 4 decades. There aren’t many financial situations that we haven’t seen!
Since you probably work alone or with a small team of employees, we realize that you’re usually the one wearing multiple hats at any given time. And as service professionals ourselves, we also understand that you are the product you deliver.
That’s why we are committed to providing dependable financial services for:
Law Firms and Private Practice
You shouldn’t have to sacrifice billable hours while stressing over finances or correcting costly administrative mistakes. We work with attorneys all across West Tennessee to help make sure they are financially stable so they can focus on representing their clients and growing their practice.
Independent Contractors
When you’re no one’s employee but you work for multiple companies, it’s easy to get bogged down with tracking your numbers. Our team makes it easy by alleviating that burden for you.
Medical Professionals
If you are offering medical or dental services in today’s marketplace, you know how important having exact and up-to-the-minute accounting can be. We work with healthcare service providers by offering accounting, bookkeeping, payroll and HR services, tax planning and preparation, as well as cash flow management and internal controls. They didn’t teach you how to be an accountant in medical school—so trust us with your accounting needs!
Small Business Service Providers
When your business is helping other businesses succeed, you can quickly lose sight of your own need for accurate financials. Let us be the business partner who helps you with your money so you can focus on delivering excellent service.
Trucking & Transportation
Life on the road has enough challenges. Your financials shouldn’t be one of them. Let us take the wheel when it comes to tracking your cash flow and keeping your records. That way you can concentrate on putting the hammer down, collecting green stamps, and keeping the shiny side up.
Home Service Professionals
As a handyman, lawn service, or residential repair company, your business depends on being able to serve as many people as possible, and you likely have a crew that needs to stay busy, too. You don’t have time to waste stressing over accounting. Let us free you up to get back out there!
Learning Center Resources for Professional & Service Businesses
Maximize Your Savings: Essential Truck Driver Tax Deductions You Need to Know
Driving a truck for a living is hard work. But delivering the goods that keep America running is such an important part of our economy. Without you being on the roads day and night, our country would grind to a halt faster than most people realize.If you drive as an...
How to Create a Traditional Income Statement: Simplified Tips for Busy Entrepreneurs
Small business owners are often intimidated by having to create a traditional income statement for their company. However, it doesn’t have to be that way. All of your financial statements are valuable for helping you run your business. They give you insights into how...
How to Manage Independent Contractor Taxes: Quarterly Deadlines, Forms, and Strategies
If everybody had to file independent contractor taxes, we’d see a revolution in our nation’s tax code. Most people work for an employer at W-2 jobs where their taxes are automatically take out each pay period. They never have to think about it, are mainly...
You have enough on your plate trying to provide great products and services to your customers; let us handle everything else.
Tax Preparation
We know—it’s what you think of when you think ‘CPA.’ And well, we’re good at it. We can help you identify and maximize what you may be missing doing it on your own.
Bookkeeping
Charting of Accounts
Budgeting & Cash Flow Management
Financial statement preparation
Capital Tax Planning
Handling your IRS paperwork when the big ticket items get bought and sold
Frequently Asked Questions for Professional and Service Businesses
What are the most common tax deductions for small businesses?
Common deductions include business expenses like office supplies, utilities, salaries, marketing costs, and vehicle expenses. Specific deductions may vary based on your industry and business activities. Schedule a call with us to find out how we can help you identify more for your specific business.
How can I ensure my small business is tax compliant?
Keep accurate financial records, separate personal and business expenses, stay informed about tax deadlines, and consider consulting with a CPA to navigate complex tax laws and maximize deductions.
What strategies can help construction businesses manage inflation?
Strategies include locking in prices with suppliers, adjusting contract terms to account for price fluctuations, and maintaining a contingency fund for unexpected cost increases.
How can I streamline construction payroll management?
Use specialized payroll software, outsource payroll services, maintain accurate records, and stay updated on regulatory changes to streamline payroll management. We can help you do all of these things—Schedule a call to find out how we can help you specifically.
Why is a Work In Progress (WIP) report important?
A WIP report helps track the financial progress of projects, ensuring accurate billing, revenue recognition, and cost management, which are crucial for maintaining profitability.
