As the year comes to a close, it’s the perfect time for construction business owners in Texas to get their financial house in order. Proper accounting not only ensures compliance with tax laws but also sets you up for success in the new year. At McInroe Bookkeeping, we specialize in helping small business construction companies streamline their finances, ensuring they pay their fair share of taxes—and not a penny more.
Here are some essential tips to help you wrap up your year on the right note:
1. Reconcile All Financial Accounts
Start by reviewing and reconciling your bank and credit card statements. This process ensures all transactions are accurately recorded and no income or expense is overlooked. McInroe Bookkeeping offers monthly reconciliation as part of our comprehensive bookkeeping services, saving you the hassle and keeping your books accurate year-round.
2. Review Your Job Costs
Construction companies often deal with complex job costing. It’s crucial to review your project expenses and ensure that every cost is correctly allocated. Accurate job costing helps you understand profitability and plan for future projects. Our expert bookkeeping services ensure you’re tracking these costs efficiently.
3. Take Advantage of Tax Deductions
From vehicle expenses to tools, equipment, and materials, construction businesses have numerous deductible expenses. McInroe Bookkeeping ensures that you’re maximizing all eligible deductions while staying compliant with tax laws.
4. Prepare for Quarterly and Annual Tax Filings
Missing deadlines can result in penalties. We’ll help you estimate and prepare for quarterly tax payments, as well as handle your year-end filings. With McInroe Bookkeeping, tax time is stress-free because your books are always up to date.
5. Plan for the New Year
Year-end is an excellent time to review your financial goals and make a plan for the coming year. Whether it’s budgeting for new equipment or planning for growth, having accurate financial data is critical. Our monthly bookkeeping services provide you with consistent insights so you can make informed decisions year-round.
Why Choose McInroe Bookkeeping?
At McInroe Bookkeeping, we understand the unique challenges faced by small business construction companies. Our expertise ensures that your books are accurate, your taxes are minimized, and your business is positioned for success. For one low monthly fee, we handle:
- Monthly reconciliation of checking and credit card statements.
- Accurate financial reporting.
- Quarterly tax estimations.
- Annual tax filing for your business.
With McInroe Bookkeeping, you get “old-school” bookkeeping services with a modern touch. We’re here to make your accounting headache-free, so you can focus on building your business.
Let’s Get Started
Ready to take the stress out of your accounting? Contact us today to learn more about our monthly bookkeeping services and how we can help your construction business thrive. At McInroe Bookkeeping, we ensure you pay your fair share of taxes and no more.