Contractor Success Map With Randal Dehart | Contractor Bookkeeping And Accounting Services

This Podcast Is Episode Number 0182 And It Will Be About A Unique Faucet Of Qualified Leads Just For Contractors Like You! Today's Guest Article Is From Tomer Applebaum Tomer was interviewed for the Contractors Success M.A.P. Podcast and was very generous with his time and provided some extremely valuable insights for how you can generate Job Leads as easy as turning on a faucet. A Faucet of qualified leads You are a master craftsman You have spent years learning and plying your trade to get where you are. If you’re an electrician, you can run wires in your sleep. You don’t have to think about wiring the electric box, you know.. If you’re a plumber, you know just how much dope or tape to wrap for the seal to be tight. You don’t have to do it twice to prevent leaks. You do it right the 1st time. Whatever your trade, whether you're a painter, a carpenter, a handyman, whatever it is, you know it well. You can serve people and help them. And now you’ve started a business… Oh oh… The number 1 challenge As every

This Podcast Is Episode Number 0181 And It Will Be About Annual Taxes and Job Costing from the view of The Contractor The first question is why doesn’t the tax accountant help me with Job Costing? The reason is they are Tax Accountants, not Construction Accountants. If you say "I want to go to ONE Place to all my answers. Have a dedicated person be available whenever I call." You are not likely to find what you are looking for because someone with those skills will cost you several hundred dollars an hour. Maybe you think they are The Accountants and they should know the answers. They are just keeping it a secret. Maybe they don’t know what they are doing, and I need to get a new tax accountant. My Advice is Stop, take a deep breath. Is your tax accountant doing a good job with your annual taxes? If the answer is YES. Please keep them, they are doing what they are supposed to do. Annual taxes is like a job site at the end of the project. The Tax Accountant has a “Punch List” with loose ends everywhere, fi

This Podcast Is Episode Number 0180 And It Will Be About Annual Taxes And Job Costing From The View Of The Wife Of A Contractor The First Question You May Ask Yourself Is Why Doesn’t My Tax Accountant Help Me With Job Costing? They are Tax Accountants, not Construction Accountants and may not know the answers. You may think they are just keeping it a secret. Sometimes you may think they don’t know what they are doing, and maybe I need to get a new tax accountant. My Advice is Stop, take a deep breath. Is your tax accountant doing a good job with your annual taxes? If the answer is YES. Please keep them, they are doing what they are supposed to do. Annual taxes is like the game of “Pick Up Sticks” Details are everywhere, and all need to be gently picked up and placed on your tax return in a specific order. Not all of the items on the table are actual tax deductions. Your tax accountant must be up to date on the latest changes made by Congress and implemented by the Internal Revenue Service. Remember a few y

This Podcast Is Episode Number 0179 And It Will Be About Start-Up Your Contracting Company With Equipment Auctions You Started Your Cоnѕtruсtіоn Company, And Now You Need Tools, Equipment, Trucks, And Vans And You Are Dismayed By What Everything Costs The соѕt of ѕtаrtіng a Cоnѕtruсtіоn business саn be daunting and scary, tо ѕау thе least. Nо mаttеr whісh part of this wide wonderful іnduѕtrу you choose or hоw profitable іt may bе, еvery Contractor fасеѕ the same оbѕtасlеѕ fоr асԛuіrіng hand tools, power tools, truсkѕ, vans and heavy equipment. The bіggеѕt оbѕtасlе you will face is getting the money to buу what you need. So еԛuірmеnt аuсtіоnѕ can bе a grеаt hеlр to a Contractor like you. Considering the retail cost of properly outfitting one work van with the tools and equipment to open a skilled trade business like Plumber, Electrician, HVAC, Carpenter, Framer, Drywaller, Flooring, Roofer or any of the other dozens of skilled trades can cost over $25,000 then wouldn't it make sense to save money where you can

This Podcast Is Episode Number 0178 And It Will Be About Are You Trying to Find a Bookkeeper for Your Contractor Company? Construction Contractors Have Experienced The Worst Economic Times In The Past 100 Years And Now That You Are Getting Busy You Cannot Find A Decent Reliable Bookkeeper Four Things Contractors Are Saying About Bookkeepers: #1 I've been trying to hire a bookkeeper for my contracting company for a while and none of them are worth a darn! #2 I Tell Them "Your Job Is Make QuickBooks Give Me Reports I Need To Make Informed Business Decisions!" #3 I've hired four of them in the past few years and none of them have a clue about what I do as a contractor! #4 I am getting ready to hire bookkeeper number five, and I just can't take it anymore, and I am near meltdown! The Next Set Of Problems Is Related To Cash Flow #1 Now I am way behind on Invoicing for the work we have done, and I am having a hard time collecting the money. #2 I want to grow my company, do the stuff I am good at and see the money c

This Podcast Is Episode Number 0177 And It Will Be About Pain Free Lien Waivers For Contractors, Lenders And Title Companies Geoff Arnold, Luis Trejo And Sean Richardson were interviewed for the Contractors Success M.A.P. Podcast, and were very generous with their time and provided some extremely valuable insights for how you can streamline your lien waiver process. The article below is a recap of how it all works. Tell us about your background and how you came to be where you are now. In January 2016, Geoff Arnold, Luis Trejo and Sean Richardson started lienwaivers.io with the simple vision of creating a better way for all parties involved in a construction project to collaborate in the disbursement process. With their combined background in construction, finance, technology and product marketing, the team is uniquely suited to solve this problem. Their solution is a simple, intuitive, cloud­-based platform that integrates directly with common construction accounting software without requiring users to re­-e

This Podcast Is Episode Number 0176 And It Will Be About How Paper Invoices Are Bad For Your Construction Company Cash Flow By Anastasia Harold - Coolfront Affiliate Manager - Western Region You might be afraid to “go mobile” and ditch your paper work orders. I’m here to tell you there’s nothing to fear. In fact, it’s the paper invoices you should be afraid of. Here're the top ways that paper invoices are hurting your business: #1 They Get Lost Paperwork gets lost. Price Waterhouse Coopers (PWC) estimates finding one piece of paperwork can cost a company about $122. That could be your profit from an entire service call! PWC also estimates 7.5% of paperwork is lost forever. That could be 7.5% of your revenue from unbilled invoices. Customers agree too - they would rather have it in their email inbox. That’s one less receipt to keep track of. Storing your invoices digitally, or in the cloud, is the best way to eliminate lost paperwork and keep more information stored forever.   It's also estimated that 20% o

This Podcast Is Episode Number 0175 And It Will Be About Why Construction Accountant Is The Best Bookkeeper For Your Construction Company Experts Have Increased Knowledge And Skills. This is true whether you are talking about general bookkeeping, tax accountants, your mechanic, your doctor or other business professionals. “You’re Just the Bookkeeper” Yes in its most simple term – I’m just the bookkeeper. Of course, my clients look at it a little differently when we talk about the details of their business. What they do, how they do it, when do they bill, do they collect a job deposits.  If and when they should take payroll for themselves and how much should they take. And all of the “What About” questions that can come up – I’m an Ear – I’m a Resource! The list can go on for hours as I chat on the phone with existing clients, new clients from weekend warriors to brand new contractors to those who have been it the trades forever. Between all of the paperwork, taxes, and forms; bookkeeping is more complex than

This Podcast Is Episode Number 0174 And It Will Be About  Four Simple Steps To Make Your Contracting Company Great Again What Separates Wealthy Contractors From Poor Contractors • It's not lack of opportunities to bid jobs or get leads because getting leads is easy • It's not lack of ambition because every contractor I know is strong and ready to get busy • It's not lack of intelligence or the ability to develop a production method and follow it to the end • It's not lack of money because if you follow my method you know how to overcome that, just use O.P.M. The Answers Are Simple, But Not Easy • Wealthy Contractors begin with the end in mind and knowing what to do • Wealthy Contractors know who they are and what they believe to be true • Wealthy Contractors know what type of Contracting they are good at doing • Wealthy Contractors know how to generate more leads than they can handle Do You Want To Know How They Found The Answers? Step #1 Begin With The End In Mind  "The Seven Habits of Highly Effective Peop

This Podcast Is Episode Number 0173 And It Will Be About You Have Employees Now What? You started your Construction Company, Handyman Business, House Builder, Specialty Contractor or another form of contracting because you wanted to be your own boss, make a lot of money and enjoy some personal freedom. Then You Hired A Construction Worker And Something Went Horribly Wrong!      Welcome To The World Where You Are The B.O.S.S. (Bad Old Sorry Sucker) Most construction workers are good decent people who enjoy working with their hands making, building, repairing, remodeling and fixing homes and commercial buildings.  Good construction workers will not tolerate chaos or unfair labor practices. They will try out a lot of contractors until they find a contractor with a system. Preferably with documented processes and procedures. Good Construction Workers Have These Five Traits In Common: #1 High Self Esteem #2 Strong Work Ethic #3 Always Learning #4 Loyal To Family And Friends #5 Law Abiding Citizen Know The Fully

This Podcast Is Episode Number 0172 And It Will Be About QuickBooks Financials Do Not Match Your Contracting Company Tax Return  All Accounting Is Not Created Equal. Have you ever compared your QuickBooks Profit & Loss Report to your annual Income Tax Return and scratched your head trying to figure out why the numbers are so different? If you have, you are not alone because there are two different types of Accounting, and they serve two different purposes.   Tax Accounting Vs. Management Accounting  Tax Accounting Is external; its purpose is reporting income, preparing tax forms and making certain you pay your fair share of taxes and perhaps a little extra. For example Quarterly Tax Reporting, annual tax returns, state, county, city and local business and occupation taxes and sales tax reporting. Tax Accountants Are good people, and they have their place in the accounting world. Regular accounting, bookkeeping and contractors bookkeeping and accounting are not something they should be doing. No different

This Podcast Is Episode Number 0171 And It Will Be About Business Consultants Scamming Contractors As the economy is improving in mid-2016, we are seeing a disturbing trend of Business Consultants asking Contractors to make them a part owner of their Construction Companies in exchange for their services. I had seen this nightmare come to life several times beginning in the 1970's when I started my Construction Company. It usually happens just as the economy starts to improve and demand for construction services is far greater than the supply of Contractors to fill the need. There are a lot of seminars being put on by less than honest people promoting Get-Rich-Quick-Schemes for Business Consultants to take advantage of honest hard working contractors! There Are Several Parts To This Scam: They Make You Think They Know More About Running Your Business Than You Do They Want You To Pay For A Life Insurance Policy Naming Them Beneficiary They Have A Network Of People Who Need Work Done At Low Rates And Provide Ki

This Podcast Is Episode Number 0170 And It Will Be About Ten Construction Tools You Can Fit in Your Pocket Today's Guest Article Is From Simon Worsfold A Copywriter At TSheets There are some tools that apps will never replace. Hammers for example. But smartphones are making lighter work for many in construction and the industry has definitely switched on to their potential. According to at least two recent surveys, one by On Center and the other by JBKnowledge, four out of five construction workers are now using apps on the job site. From punch lists to project management, there’s a huge range of construction apps out there now and to help you choose the best of them, TSheets has recently announced a new “Top Ten Construction Apps” awards. For A Tsheets 14 Day Free Trial Go To https://www.fasteasyaccounting.com/tsheets The winners fall into ten categories: Safety, Estimates & Bids, Measurements, Time Tracking, Photo Annotation, Task Management, Blueprints, Project Management, Reporting, and Communication.

This Podcast Is Episode Number 0169 And It Will Be About Secrets Of Successful Handyman Contractors Why do some Handyman Contractors make a good living and have a solid income while the majority are struggling with cash flow, profit, and dealing with the same daily tasks until they retire or die of old age and a worn out body? Here are ten secrets you can use to make more money. 1. Vision For Where Your Handyman Company Is Going Your inner world shows you exactly where your outer world is heading. Daydream and ask yourself "What if.." It’s fun and easy and very profitable. Interview yourself about where your Handyman Company is going. Have a conversation with yourself and record it on paper, computer, audio recorder or whatever works for you. To begin with go wild and wooly, no judging, no censoring, just let your thoughts flow and record it all. The first step to deep analytical thinking and decision making is letting loose then sifting through to find the nuggets of wisdom. Sleep on it, review it the next m

This Podcast Is Episode Number 0168 And It Will Be About About Three Key Questions Successful Contractors Ask Themselves Three simple questions contractors need to ask themselves to ensure your company and brand continues growing cash flow and profits. Three questions that if all owners of failed construction companies had asked themselves, they might have survived and thrived. They are simple, obvious questions, but how you answer them will determine if your construction company will stand the test of time. There was a time when a contractor put a simple ad in the paper or a line listing in the Yellow Pages, and they would have more leads than they could handle. It was the only way to go and the contractors who insist on that and "Word of Mouth" do not survive. Could Those Contractors Have Avoided Failure? I believe they could have. This article explores three key questions that every contractor needs to ask themselves. They need to answer them in ways that provide a clear path to continued and future growth

This Podcast Is Episode Number 0167 And It Will Be About 5 Tips Contractors Need To Follow To Be More Green  Today’s podcast from an article written for our website blog by Jessica Kane, a professional blogger who writes for Federal Steel Supply, Inc., a leading supplier of carbon, alloy and stainless steel pipes, tubes, fittings and flanges. Nowadays, going green is the biggest way to draw in customers. This is true for most industries, but contractors are particularly affected. After all, who wants to pay for a house that will just end up wasting resources and costing the buyer more? For any contractors that want to go green and draw in more customers, here are 5 ways to be more eco-friendly. 1. Use Green Materials If there is ever the option, always err on the side of using recycled building materials. Things like recycled glass and tile are easy to come across and ensure that they do not contribute to taking up space in a landfill. As an added bonus, recycling has become such a buzzword that it will qui

This Podcast Is Episode Number 0166 And It Will Be About Getting Good Reports From Your Construction Accounting System In the world where most people think everything should be Free, Perfect, Now getting good financials from your Construction Accounting System still takes the old fashioned method or hard work and skill. Most Contractors would never expect or allow their staff out in the field do sloppy; tacky workmanship except where the office is concerned. Most contractors who do beautiful work on the job tend to be a Little messy in their paperwork. There is only so many hours in the day and not enough hours to do everything. Highly successful contractors know they need good reports to know where the thier company is going, knowledge on what type of jobs to bid and accept. If and when to hire additional employees. Smart contractors know when to hire someone who has the skill sets that they or their office staff does not have. Make no mistake, managing the paperwork in your construction company requires mor

This Podcast Is Episode Number 0165 And It Will Be About And It Will Be About Job Costing For Small Contractors Most Construction Accountants that talk about Job Costing are speaking to large contractors with dozens of employees, doing millions of dollars in sales every year. This podcast is not about them it is about you! I care deeply about all Contractors. However, since I have a limited time on this earth and it my mission to help small contractors like you become wealthy because you bring value to other people's lives! Owners of small construction companies like you are the men and women who keep everything moving in the right direction. When the economy changes, you quickly adapt because you are a survivor, not a large giant behemoth dinosaur unable to respond quickly and dies in its tracks. Job Costing In Its Simplest Terms Job Costing links the money you spent on a job against the money you received to do a particular job. In Construction Accounting, there are two types of Cost of Goods Sold (COGS)

This Podcast Is Episode Number 0164 And It Will Be About Four Unique Reasons Small Contractors Succeed Financially And Personally Starting And Building A Construction Company Is Brutal Not Just Hard! There are a great number of "Threads Of Success Weaved Into The Fabric Of All Successful High-Profit Construction Contracting Companies" and I am going to share four of them with you. #1 Successful High-Profit Contractors Limit Their Risk Jeff Bezos, Amazon founder and CEO, nailed the subject of risk when he explained that entrepreneurs should not be risk-seeking. They should focus on limiting risk. One of the biggest ways to reduce risk in your Contracting Company is by validating the need for your service. If you are new in business join your local trade associations, for example, Master Builders Association and attend a few meetings and take some classes. Develop your Unique Selling Proposition (U.S.P.) the one thing that you do better than anyone else in your Geographic and Psychographics Target Market. Try s

This Podcast Is Episode Number 0163 And It Will Be About The Four Most Important Words Your Construction Clients Say The Four Most Important Words Your Construction Clients Say: "While it's open anyway...." (the walls, floors, ceiling) "Since we're this far..." (in the project, remodel, new house) "I have an idea..." (for more work to be done, change something) "Now my wife wants..." (more, more and more) Highly profitable and very successful Contractors like you respond with... "Tell me more and let me take some notes so that I can better understand what you want". And they open their paper notepad or electronic device and start documenting everything. People love to buy stuff and even more important they love to be listened too and interviewed so when you are listening and taking notes you are giving them what they crave most; respect and attention! During Junior High and High School whenever I was not needed in the family construction company I developed a lawn mowing business by going door-to-door in my