It is important to maximize your bond capacity to keep your construction business booming. You do this by winning lucrative projects. You win those projects by building your relationships with both your clients and your surety bond company. It is important to remember that a surety bond is not typical insurance. While it is true that you pay a premium for the bond, it acts less like insurance for you and more like insurance for your customer.
For many, the words "personal taxes" often strike fear in the heart. A daunting process, person taxes are often an overwhelming process that never seems to be done quite correctly. Instead of burying your head in the sand though, it is important to keep note of tax season, and changes for the year to ensure that you are fully compliant - and it never hurts to have a professional look it over to make sure everything is reported correctly, and accurately to maximize your return.
401ks are often a mysterious thing, set off to the side without much care to it - especially if they are automatic contributions being made. Once it is set, you really never have to look it again...right? Unfortunately, that really is not the case. Planning for retirement is a continuous process, and leaving it for the last minute is really not the best idea.
CPAs are sophisticated professionals that have in-depth accounting and financial knowledge. However, they are generally not associated with hard hat construction firms. Building large projects with cement, steel and industrial machines do not go hand in hand with financial analysis. However, CPAs can make the difference between success and failure for a construction firm. There are a few important reasons.
When you start your own business, it's understandable that you want to save money by doing your own books. However, as your business grows, you realize that the accounting is getting more complicated. You may not know where to go from there. Throw the IRS into the equation, and you realize you may need outside help. By hiring a CPA, you will get much more than someone who just does your books.