Let’s clear this up before going further – the team at The Profit Constructors DOES NOT prepare federal or state income taxes.
We make the preparation of construction firms’ tax reports easier. And in many cases, we make the preparation of those forms less costly.
Now, we can proceed from there.
Make Your Tax Preparer Happy
If you take a box load (or a truckload) of paperwork to your tax preparer next spring, he or she is not likely to smile at you with benevolence on his or her mind.
On the other hand, if you deliver a set of books detailing all the intricacies of your cash flow, your overhead, your assets, your profits and losses, and so on, the task of tax preparation will be smoother and swifter.
It is like showing up on a project with a toolbox in which all the tools have a place and are in their place or arriving with a toolbox in which all the tools are in disarray. The time taken to straighten out the mess is costly.
Make the IRS Happy
According to the IRS, there are benefits associated with paying your taxes on time. They include:
Avoiding added interest and penalties
Gaining the ability to claim a refund
Protection of Social Security benefits
Preventing the loss of future refunds
Preventing issues concerning obtaining loans
Profits and Taxes
Down and dirty, here’s the deal. When you pay more taxes, it is a sign you’ve made more money in the past year. It is a simple formula; focusing on profitability leads to increased cash flow, making it possible for future growth. Profit should be your primary goal. And there’s a reason for that.
Because without profit, your construction business will not survive.
With profit, you will be able to create wealth for yourself. You’ll be able to serve your clients well. And you’ll have the ability to support your employees and subs.
The Final Word
In case you missed it, The Profit Constructors is in the business of helping construction companies increase their profits. And while we don’t prepare income tax reports, we make it easier for our clients and their tax preparers to get the job done.
Construction Contractors look to The Profit Constructors to provide advocacy in dealing with:
Clients and customers
Employees and subcontractors
Vendors and service providers
Governmental entities
Working with The Profit Constructors gives Construction Contractors the means to organize their operations in ways that help them:
Remain informed
Avoid hassles
Reduce risks
Be future-ready
Ready for action? Or want to know more? Get in touch today to schedule a complimentary discovery call. 866-629-7735