Understanding the Completed Contract Method for Contractor Accounting

Many contractors don’t understand that there’s specific rules regarding how income and expenses are reported in accounting, so this is an explanation of how the Completed Contract Method works for small businesses. When you have a contract in place, that’s when you need to make sure that the revenue and expenses related to the job […]

How can I not pay taxes?

So many people ask me how to avoid paying taxes, and I tell them to simply not make any money and it’s simply that easy.  In the end many people fail to realize that when Ben Franklin came up with the saying “Nothing is certain but death and taxes” he wasn’t lying. The challenge with […]

Playing Financial Reporting Catch-Up

Most everyone has been there with their business, not having reconciled their bank accounts or credit cards, not sure where things stand with their payables and receivables, do their financials line up with their tax return, and the bank is asking for up-to-date financials to renew their loan.  Where are theyu supposed to start without […]