The Building Code
Plan, prepare, profit: Top tax tips every builder should know
Jan 30, 2025
In this insightful conversation, Karine Woodman, the Founder and CEO of 24hr Bookkeeper, and Michelle Vesel, a process implementation specialist, dive into crucial tax strategies for builders. They discuss navigating tax challenges while emphasizing the importance of organized bookkeeping. The guests advocate for outsourcing financial tasks to experts, allowing builders to focus on their core business. They also share tips on job costing, monthly accounting, and utilizing technology for streamlined financial management, ultimately aiming to enhance profitability for construction companies.
42:11
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Quick takeaways
- Construction businesses must focus on proactive organization and accurate documentation to alleviate stress during tax season.
- Delegating bookkeeping tasks allows builders to concentrate on higher-level financial strategy and improve overall project management efficiency.
Deep dives
Embracing the New Year with Financial Resolutions
As January comes to a close, it is essential for individuals and construction businesses alike to reflect on their financial goals for the upcoming year. The podcast emphasizes the importance of maintaining financial resolutions beyond typical personal goals, focusing on managing and improving financial processes throughout the year. Key suggestions include assessing past pain points and identifying areas for improvement, particularly in bookkeeping and software utilization. It’s crucial for business owners to commit to reviewing and adjusting their processes regularly to better align with new features and updates in their financial management tools.
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