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Construction & Rental Business Finances

 

 

 

Easy Ways to Keep More of Your Money

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Whether you’re in the construction business, or a landlord of rental properties, there’s a lot to keep track of when it comes to financials. The good news is, there are easy ways for you to keep more of the money you earn.

Construction Bookkeeping Options

It’s not just about expenses. Proper record keeping can increase income too. Are you warehousing material without knowing what you paid for it? Are you guessing on cost of goods for leasehold repairs or common area maintenance? If so, are you sure you’re making money on the jobs you quote? Even if you are, it’s probably less than you think.

Don’t despair. Paying attention to just a few of these items can save you money in reduced taxes and lower expenses. You can also increase income while saving time & headaches. Do yourself a favor. Pick four items to target in the next quarter. That’s one a month. If you’re too busy to even do that, we can create easy solutions that take all this off your to do list, often for less than the cost of a monthly cable bill

Simple Ideas for Reducing Costs with Construction & Rental Businesses

Automate Billing

Automate Billing

One of the biggest challenges you may face is falling behind on invoicing.
Reduce Interest Costs

Reduce Interest Costs

You may need to shop around a bit for a better solution. Avoid feeling like you have to borrow at the same bank as your checking account.
energy procurement service

energy procurement service

Annual contracts are generally the best approach, as prices can fluctuate.
Analyze Existing Costs

Analyze Existing Costs

A qualified and detail-oriented financial professional can help you quickly identify these unnecessary
Analyze Account Profitability

Analyze Account Profitability

It makes sense to periodically assess which clients, or type of contracts are costing you the most.
Think Long term

Think Long term

Take a look at what you're trying to do internally and ask yourself if it's working.
Know Your Inventory

Know Your Inventory

Have a system in place that allows you to easily calculate cost of goods and what you have on hand.
Streamline Expense Record keeping

Streamline Expense Record keeping

Utilize new AI software available to record, integrate, reconcile, and learn your spending behaviors.
Track Mileage

Track Mileage

This can be a huge number on your tax returns at the end of the year.
Maximize Tax Benefits with Depreciation

Maximize Tax Benefits with Depreciation

Knowing how to depreciate equipment and when to replace it for the greatest tax savings can have a substantial effect on taxes.
Outsource Bookkeeping

Outsource Bookkeeping

Contract this out to an industry expert. This usually costs less than paying a week's salary.
Outsource Payroll

Outsource Payroll

The tax reporting requirements alone these days for employee compensation makes payroll time-consuming.

We’ve adopted bleeding-edge technology to help you do your job better, faster, and cheaper than what’s been possible in the past. Schedule a free discovery meeting to explore if our AI-supported bookkeeping, payroll, and financial management services might be a good fit for you. We’ll tell you if we’re the right solution, or let you know if it’s not a good fit. Either way, what do you have to lose? Why not take 15 minutes out of your day to see if we can help you transform your business and your quality of life?

Of course, these tips apply, whether you choose to reach out to us or not. Please do consider committing to tackling at least one of the tips above this month. Your employees, clients, and family will thank you. You will too as you jettison stress and unnecessary time drains.