Author: KURPASANDCOMPANY
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Should Your Electrical Contracting Business Be an S-Corp? Here’s How to Know
When Mike started his electrical contracting business six years ago, he was a one-man show running conduit and swapping panels, invoicing as a sole proprietor because that’s just what you did when you were starting out. Fast forward to year five, and Mike had two crews, a steady stream of commercial tenant-improvement work, and a… Read more
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Tax Deductions Every HVAC Contractor Should Know Before Year-End
Running an HVAC business means constant truck rolls, expensive equipment, and a parts inventory that never stops moving. All of that comes with deductions most owners are leaving on the table. Vehicle and mileage. Between service calls and supply runs, your trucks rack up serious mileage. Whether you use the standard mileage rate or actual… Read more
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The Real Cost of Not Tracking Job Costs (With Real Numbers)
You’re busy. Jobs are coming in. The truck’s always moving. And somehow, at the end of the month, there’s less in the account than you expected. If that sounds familiar, there’s a good chance the problem isn’t how much work you’re doing — it’s that you don’t actually know which jobs are making you money… Read more
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The Reasonable Compensation Trap: What Happens If Your S-Corp Salary Is Too Low
Electing S-corp status is one of the smartest tax moves a profitable trade business can make. It’s also one of the easiest to get wrong in a way that quietly invites an audit. Here’s the trap: the whole reason S-corp status saves you money is that only your salary is subject to self-employment tax —… Read more
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1099 or Employee? The Classification Mistake That Could Cost You Thousands
You’ve got a guy. He shows up most weeks, does great work, and you pay him at the end of the job. Easy — you hand him a 1099 at tax time and move on. Except the IRS might not see it that way. And if they don’t, “easy” turns into back payroll taxes, penalties,… Read more
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How to Price Your Services So You’re Not Working for Free
You’re booked out three weeks. The phone won’t stop ringing. Jobs are coming in left and right. And somehow, at the end of the month, there’s barely anything left in the bank. Sound familiar? You’re not alone. It’s one of the most common problems we see with contractors and service business owners — and it… Read more
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What Happens to Your Business If Something Happens to You?
You built something. Maybe it took years. Maybe it took everything you had. A truck, some tools, a reputation you earned job by job, handshake by handshake. But here’s the question nobody wants to ask: What happens to all of it if something happens to you? Not a fun thought. We get it. But ignoring… Read more
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How Trade Business Owners Can Reduce Taxes AND Build Retirement at the Same Time
If you own a construction or blue-collar trade business and you’re netting $250K–$400K, you’re in a powerful — and risky — position. Powerful because you’re profitable. Risky because without planning, you’ll write large checks to the IRS every year and still feel behind on retirement. Here’s the good news: You can legally reduce taxes and… Read more
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You’re Netting $300K in Your Trade Business — Here’s What Your Tax Strategy Should Look Like
If your construction or trade business is netting around $300,000 per year, first — congratulations. That puts you in a powerful position. But it also puts you in a tax bracket where mistakes get expensive fast. At this level, basic tax prep isn’t enough. You need strategy. If you’re a contractor, electrician, plumber, HVAC owner,… Read more
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Tracking Labor and Materials Without Losing Your Mind
For contractors earning $300K+, managing labor and materials isn’t just about staying organized — it’s about keeping your profits in check. Running a construction business is complicated. Jobs have moving parts, crews are in different locations, materials arrive at different times, and costs can spiral if you’re not keeping track. Many contractors don’t realize that… Read more