The LLC tax loophole has given companies the chance to lower their tax rate by operating as an LLC instead of a C-corporation or S-corporation. An LLC, or limited liability company, offers liability protection to its owners, which means that an owner’s assets can’t be seized in case of bankruptcy.

The loophole allows companies to avoid paying taxes on certain profits by using it as a pass-through entity. The profits are then passed down to the owners and taxed at the individual rather than at the corporate level. So, what exactly does this mean for you and your company?

The LLC Tax Loophole Explained

LLC stands for limited liability company. This means that, as a corporation, an LLC offers limited liability protection for its owners (i.e., it protects them from personal responsibility for business debts and liabilities). It also means that an LLC can be taxed either as a corporation or as a partnership (like sole proprietorships and general partnerships).

Many businesses prefer to organize as an LLC because of its flexibility and lack of corporate formalities. As long as your business is organized correctly, an LLC allows you to do business under your name without having to register with your state government or publish minutes of board meetings.

The limited liability status of an LLC comes with limits, however. Unless you take specific steps to avoid it, an LLC will be treated as a sole proprietorship or partnership for federal income tax purposes. This means that if your business has two or more members, it will not receive any special treatment under Internal Revenue Code (IRC) § 704(b).

Instead, each member of your company will report their share of company profits and losses on their tax return and be liable for self-employment taxes (i.e., Social Security and Medicare taxes).

The IRS calls an LLC that has a single member a disregarded entity. This means that it’s treated as a sole proprietorship for federal income tax purposes, with its own rules and requirements. For example, they don’t take advantage of any special pass-through treatment. Instead, they’re subject to all of the rules and restrictions that apply to sole proprietorships (which are relatively few).

Can Employees Use LLC Tax Loophole?

You bet! If you’re an employee who’s taking a legitimate expense for your small business, you can use that deduction. The Tax Cuts and Jobs Act has not changed much about employee deductions. If you have an expense as a sole proprietor or partner that qualifies as an above-the-line deduction (meaning it can be deducted even if you do not itemize), then it should also qualify for an employee deduction.

As a sole proprietor, you can also take expenses on your Schedule C as an itemized deduction, but that’s generally not worth it unless you have more than $5,000 in eligible self-employed business expenses.

You can’t itemize deductions as an employee, but you may be able to take them if you are a sole proprietor or partner. Whether or not you can deduct your business expenses depends on whether they fall into two categories: above-the-line deductions and itemized deductions.

Have more questions? Call us at 703.348.6171

Capital gains tax loopholes are legitimate ways for taxpayers to save on taxes. Here’s a quick look at the best ways to reduce your capital gains taxes, a few popular available tax loopholes, and several tips on how to lower your tax liability.

What are Capital Gains?

In simplest terms, capital gains happen when you sell a capital asset for more than you paid. The IRS includes almost all assets you own as “capital assets.” These include both home and personal assets (vehicle, furniture, collectibles, artwork, your home) as well as your investments (typically stocks, bonds, real estate, etc.).

Few capital assets qualify as non-taxable for most individuals. That said, there are ways to reduce the impact of any capital gains, as we outline below.

How Much Are Capital Gains Taxes?

Americans usually pay no more than 15% tax on “net capital gains” if your taxable income is more than $40,400 and less than $445,850 for individuals or more than $80,800 and less than $501,600 for qualifying widowers or couples joint filing. However, your tax rates can rise to 20% by the amount you exceed these 2022 income thresholds.

There are a few exceptions where taxes may be higher on items such as gains on the sale of small business stock (25%), collectibles (art, jewelry, precious metals, coins at 28%), and some real estate sales (25%).

Are There US Capital Gains Tax Loopholes?

There are straightforward ways to reduce your potential tax on capital gains depending on how long you have owned the assets before settling them. Remember, you’ll pay no capital gains tax if your income is below $40,400, less than $80,800 with a spouse, or $54,100 if you’re head of your household.

Short-term vs. Long-term Capital Gains

If you own and sell an asset in less than one year since purchasing it, that’s considered a short-term gain or loss. Long-term capital gains may have a lower tax rate than short-term assets in most situations.

Non-taxable Capital Assets

Some capital assets are non-taxable, including business inventory, accounts receivable, real estate used in your business as rentals, and depreciable business property. In addition, some self-created intangibles do not incur capital gains taxes, such as copyrights, patents, inventions, designs, literary creations, music or artistic compositions. That’s all due to the 2017 Tax Cuts and Jobs Act.

Types of Legitimate Tax Loopholes

Tax loopholes are legitimate ways to reduce your tax liability, three of which are the most common:

1. Carried interest loophole: usually applies to hedge fund managers, VCs or partners in a private equity firm and allows compensation to be taxed at the lower long-term capital gains rate.
2. Backdoor Roth IRAs: individuals with earnings over $140,000 can not contribute to a Roth IRA but can convert a traditional IRA into a Roth IRA to circumvent this salary limit.
3. Foreign-derived intangible income (FDII): companies doing business outside the US may get tax breaks for moving assets overseas.

Capital Gains Tax-Saving Tips

While they’re not tax loopholes, there are additional ways to reduce your taxable income to get a lower capital gains tax rate. Take advantage of the following: the saver’s tax credit, earned income tax credit, American opportunity tax credit for students, lifetime learning credit, and child tax credit. And remember, if your capital losses exceed your capital gains, you may be able to reduce your taxable income.

These legal loopholes and tips may require expert advice from your tax advisor, who can provide valuable guidance when things get more complicated.

Have more questions? Call us at 703.348.6171

Owning a home can be expensive, but a few proven strategies can save on your tax bill by making the most of your property tax deductions.

Here’s a quick guide to the limits on property tax deductions and how to reduce your taxable income and your tax bite substantially as a result.

Income Limits on 2021 Property Tax Deductions

The IRS limits “standard” property tax deductions for individuals to a maximum of $10,000, or $5,000 each for married couples. Additional deductions may be available for those over 65, those suffering from blindness or individuals impacted by a qualified disaster loss. However, the standard deduction is all that’s needed for the vast majority of taxpayers without additional property tax deductions.

Some individuals can’t use the standard property tax deduction amounts. For example, if your spouse uses itemized deductions, if you’re not a US resident, making a filing for less than 12 months, or filing for an estate or trust, common trust fund, or partnership.

Itemize to Save

These deductions will help you decide if you want to include them when you itemize to reduce your taxes instead of using the standard deduction:

• Interest on a mortgage up to $750,000
• Medical expenses more than 10% of your gross income
• Donations to charity
• State or local property taxes up to $10,000.

What’s Deductible?

While there have been some reductions in property tax deductions, some deductions are still helpful in cutting what you owe in taxes. If you chose to itemize your property tax deductions, these items might be deductible depending on your situation:

• Your primary home or a co-op apartment
• Vacation homes or land
• Property owned outside the US
• Cars, RVs, other vehicles and boats.

What’s Not Deductible?

It’s important to know that the IRS does not allow some items for state or local property tax deductions. These include:

• Unpaid property taxes
• Taxes on property you don’t own
• Transfer taxes on the sale of a home
• Neighborhood assessments for building sidewalks, streets, water and sewer systems; but maintenance or repair costs may be deductible
• Homeowner association (HOA) assessments
• Municipal services for sewer, water, garbage removal
• Loan payments for energy-saving home improvements, although the interest may qualify for deduction as part of mortgage payments.

How to Save with Property Tax Deductions

We’ve got four tips to help increase your potential tax savings by using property tax deductions:

1. Prepay property taxes – if you expect a large tax bill next year, prepaying your property taxes this year may save you money
2. Double-check registrations – your vehicle registration may be a property tax and, therefore, deductible
3. Closing documents – if you bought or sold a property, you may have paid property taxes as part of your deal and forgotten to record the payment; check your records as these taxes may be deductible too.

If you’re not simply using the standard $10,000 deduction (for individuals), talk with your tax advisor about your options and potential ways to save with property tax deductions. That could be your wisest financial decision.

Have more questions? Call us at 703.348.6171

Understandably, you’re tired of managing your business expenses. Things will only get more complicated as your daycare startup continues to expand. There is immense potential for daycare centers and preschool childcare setups because people are busier than ever, but parents still want the best for their kids. This is where your invaluable services come into play.

You should be focused entirely on providing the best daycare services possible.

Leave the expense management stuff for those who’re trained in this regard. But before hiring a bookkeeper for your business, it is important to understand the prevalent market trends in this regard. In this article, you’ll learn the cost of a bookkeeper for their services and what your options are in this regard.

Carefully weigh the pros and cons of hiring an in-house professional or outsourcing the work to a freelancer before you decide.

Cost Of a Bookkeeper For Your Daycare Business

The exact cost of a bookkeeper varies among businesses depending on the nature of operations, the size of the company, and the extent of the services required. Usually, professionals can charge $20 per hour on average for their services. An in-house bookkeeper may cost you anywhere between $18 to 23 per hour. But this is merely a general estimate.

If you decide to outsource your finance management, the cost may be as little as $99 per month (minimum) but is usually more than this base rate. However, you will have to give up on several perks that only an in-house professional can deliver. Both options are solid, and businesses choose one or the other based on their position and requirements.

How Much Do In-House Bookkeepers Cost?

An in-house professional, as mentioned earlier, will charge $20 per hour on average, but the exact rate will depend on the education level of the bookkeeper, experience, the extent of work needed, and the nature of your business. Plus, you will also have to decide whether you want a permanent bookkeeper or a part-time employee.

On top of the basic pay, you’ll also have to deal with some extra expenses such as training them (if they are inexperienced or unacquainted with your industry-specific details), employee benefits, and paid-time-off (sick leaves, etc.)

Business owners seeking more extensive services are usually willing to cover these costs.

How Much Do Outsourced Bookkeepers Cost?

For low work volume, however, business owners look for freelancers to outsource finance management. A minimum of $99 per month, but more likely, a bigger sum, will get you an accounting team, complete access to your financial records, and monthly reconciliations.

This option works best if the work volume is low and note that the rate will also depend on the amount of work you have for the bookkeepers.

Bottom Line

Your decision should be based on the needs of your business. You need a professional who is well acquainted with the type of financial software you use, if you do already have one, be aware of the industry-specific information for daycare businesses and be able to secure tax concessions for you to boost revenue.

Be sure to ask industry-specific questions during the interview process to screen candidates. Click here for a list of questions.

Running a daycare center is challenging enough on its own for you to have to worry about managing your expenses, which, as you may have already figured, is not as simple as one may think. You probably think of managing your accounts to be something like receiving and giving away cash, and yes, things do work that way too, but that does not mean that there aren’t other options available.

Your best bet would be to get a professional accountant on board, but if you’re convinced that you can handle your expenses on your own, it will serve you to know your options first. Cash or accrual, which one to go for, and why? For most business owners, cash transactions are the only way to do business, but is it the most efficient one?
In this article, we’ll compare the two methods of accounting to let you better understand what suits your business the best.

Accounting Via Cash

To better understand how the two options works, in cash accounting you recognize income as soon as payment is received for your services and expense are recognized as soon as you have paid it. After deducting your expenses from the income, any amount left is taxable income (loss).

Accounting Via Accrual

In accrual method of accounting, you will record income as soon as you have issued the invoice regardless of when you will get paid. In accrual method you can anticipate your expenses and record them; however, payment of these expense can be made later. Any amount left is taxable income(loss). In actual method of accounting your run the risk of including income in gross revenues (and pay taxes on) that you may never actually receive. This can be mitigated by creating an allowance for doubtful account or bad debts.

Bottom Line

Cash method is more immediate recognition of Income & expense while actual method is anticipated Income and expense. For a small business, though, the first option may work better.

In the end, you need to go with what option works the best for you!

Managing a preschool is a rewarding yet demanding position. You are getting our future generation ready for the world, and preschool is where it all begins. On top of running a preschool, you have other duties to your business, like managing finances. Which is also a difficult task to do yourself. Most of your priorities are day-to-day operations and caring for children. But it’s also a business and effectively managing your cash flow is crucial to success. So, how do you manage both? We’re here to tell you the best way to go about accounting for preschool.

DIY Accounting For Preschool

The development of technology over these past few decades has made accounting for preschool easy; for those attempting to DIY. There are various types of childcare invoice software that will help manage all of your preschool’s finances. This eases the load on you, allowing you to focus your responsibility on the preschoolers.

However, there is a downside to only using a type of software. A lot of the software available doesn’t do all the things you need it to do. Whereas hiring an actual professional accountant and bookkeeper would handle all of those problems and take care of everything you need.

If you manually handle all the billing operations and do not use software or an accountant, you could be having problems. It’s why we don’t recommend it. You could be wasting valuable time and exposing yourself to the risk of human error that can lead to even more complications. We live in a fast-moving world where human error can lead to a giant headache. Your priorities are with the children and shouldn’t be focused on handling this, especially manually.

Hiring a Preschool Accountant

This is the best route to take for your preschool. As we mentioned above, you get more out of a human rather than a computer. They are experienced and know how to handle the money in the business. Here’s an idea of some of the things an accountant will cover; taxes, data, reports, asset information, debts, profits, records, liabilities, etc.

On top of that, accountants save you time, keep costs down, manage complex tasks you may not understand, offer business advice, and more. For example, think about taxes for your business. Did you know there are many ways you can reduce your overall tax bill if you run a preschool or daycare? There is a lot that can be deducted, but a lot also goes into it. That’s where a professional accountant will step in and handle it all, freeing you up money.

Bottom Line

Accounting for preschool is vital to a business being successful. As you run the preschool and feel overwhelmed with responsibilities, it’s best to take the financial stuff off your plate. The great news is there’s plenty of options for you to choose from, so you don’t have to face the finances alone. You can find references to great accountants with preschool experience in your area or software to use. So, find a professional today that works for you and start managing your money and childcare billing better for your preschool.

Being a childcare provider is a fulfilling job. Not only are you running your own business, but you are also helping families continue their careers while taking care of the most important thing to them, their children. It takes a lot of devotion, time, and effort to do this job, especially when watching multiple children. So, it’s essential not to take on too many tasks on your own.

If you are feeling overwhelmed and looking to alleviate some of your day to day tasks, leaving your childcare’s bookkeeping to a professional might be a good idea. In this article, we will focus on why bookkeeping is essential and what childcare bookkeeping should cover.

Why is Childcare Bookkeeping Important?

You are running a business. This entails a lot of work, especially since you deal with children all day. While safety and care are your top priorities, you also need to ensure your trail of payments and tracking of other expenses are taken care of. This includes:

• Taxes
• Data
• Records
• Reports
• Asset information
• Debts
• Liabilities
• Profits

We realize this is a lot to take in, considering focusing on children is where your focus needs to be. However, if you have a bookkeeper tracking all of this and working alongside you, it will take a tremendous amount of stress off you. Along with the above-mentioned tasks, an accountant will provide you with accurate information and help you understand what’s going on with your business. They are professionals. Let them handle this type of work.

What Should Childcare Bookkeeping Cover?

If you choose to take on this job yourself and use accounting software, you won’t get as much as you would hiring a professional bookkeeper. Professionals will cover all the areas your business needs.

• The experience to find issues and solve them
• Will match your business to the best and most appropriate software rather than a DIY one
• Accomplish tasks properly, meaning no potential issues with the state of IRS
• Work with you to improve business

Now, how great does all of that sound? But that’s not even all! An accountant hired by you will personally be there for you. Whereas using software or doing it yourself won’t fix problems you don’t know how to solve. Imagine having an actual human to talk to rather than a computer. In today’s day and age, everyone is all too familiar with technical issues. An accountant will care about your business and its specific needs.

Did you know?

When running your own business, you are allowed to deduct business expenses. If you didn’t know this, you could potentially be losing money.

• Business use of vehicle
• Food provided to daycare
• Business use of home
• Advertising
• Business banking account fees
• Daycare licensing
• Business insurance
• Games/toys
• Supplies like diapers, wipes, and other cleaning supplies
• Field trip expenses
• Payroll for employees

Again, we realize this is a lot to handle. However, it will be a great idea to hire a professional bookkeeper to track this data in the long run.

To assist you with your process, we have created an interactive Childcare Budget Template for you to use. Click here to download

Hire a Childcare Bookkeeper Today

Stop worrying about spending downtime or precious business hours on these tasks. Hire a bookkeeper for your daycare today, so you have more time tomorrow. Children are the future, and you are already doing a great deal of work preparing them for that, watching them, and caring for them. It’s time to take this off your plate and let the professionals handle it.

Working in the IT industry means constant evolution and fast-paced changes so the ClienTax team understands why you are looking for assistance with your IT business accounting.

It’s important to have the proper tools and advice to successfully manage your tax planning, cash flow and profit improvement so here are 8 questions to ask an accountant during the interview process. 

Question 1: Do they serve other clients in the IT industry? 

We recommend this as an opening question because it is important to hire someone who has prerequisite knowledge of the IT industry. A ‘general’ accountant might not be able to save you the time or money required to grow if they don’t understand the key areas of your IT business.

Question 2: Do they have experience representing clients with the IRS?

No one wants to have issues with the IRS but in the event issues arise, it’s important to have an accountant there to assist you. Learn about any past encounters they’ve had with the IRS, the reasons behind them and how they could support you, if needed.

Question 3: What type of entity suits your company best?

Many IT companies start as S-corp or LLC to enjoy the benefit of credits, tax losses and avoid double taxation. Over time, some find it better to shift to C-corp status. An expert in IT business accounting should be able to give you a detailed consultation to understand what’s best for your company. 

Question 4: What tax benefits are you eligible for?

There are various tax benefits for the IT industry such as credits for job creation and training. 

When considering tax deductions and benefits, you need to be careful. Your accountant can help you decide which ones to take advantage of and how to claim them.

Question 5: What are your limitations in case of debt and equity?

Fast expanding companies in the IT sector often have different types of debt such as convertible debt, senior debt etc. As they have various founders and partnerships, it can get confusing. The amounts related to debt, except the principal amount to be repaid, is tax deductible. 

In the case of equity, the rules vary for all the different types. The costs associated with raising equity are non-deductible. High debt is very common in this industry but be sure you get to know your limitations from your accountant.

Question 6: What are the key services they can offer you in your field of business?

There are certain services which are unique to the IT industry. Get an overview of them from your accountant. They should include:

• Choosing between cash and accrual method of accounting

• Percentage of completion method

• Monitoring job costs and allocating indirect costs

• Classifying as large or small contractor

• Business & Risk Insurances

• Accounting software for payroll, invoicing, etc.

• Wealth creation strategies including retirement and transfer of Capital Gains

• Industry risk profiling

• Managing the Key Performance Indicators (KPI)

• Advice on sale, purchase, mergers & acquisitions etc.

Question 7: Can you help us do business in multiple states and foreign countries?

In many cases IT companies have locations throughout the US and the world. If this applies to your IT company, it is important to work with an IT business accounting professional well versed in the multi tax system. There can be very detailed laws governing these issues.

Question 8: What software do they use to compute data and perform financial analysis?

Thanks to IT professionals like you, newer accounting software can perform a detailed compilation of all the accounting data and provide additional information to do a detailed analysis of the business.  Make sure the IT business accounting professional you are working with has the best in tech to support you and your IT business.

ClienTax specializes in accounting for IT companies 

Our team understands the IT industry which can mean the difference between just surviving and potentially thriving. Over the years, our team has assisted dozens of IT professionals through various stages of their business life cycle – from start up right through to sale. We would love to offer you our experience, technical tax knowledge and most importantly, an accurate and personalized service that comes from our intimate understanding of your industry.

As a plumber, we understand you are busy unblocking pipes, fixing burst pipes and replacing hot water tanks. At the end of the day the last thing you want to think about is your company’s bookkeeping and accounting work!

If you are in the process of trying to find a service that offers accounting for plumbers, here are 7 questions to ask during the interview process.

Question 1: Do they serve other clients in the plumbing industry? 

We recommend this as an opening question because it is important to hire someone who has prerequisite knowledge of the plumbing industry. A ‘general’ accountant might not be able to save you the time or money required to grow if they don’t understand the key areas of your plumbing business.

Question 2: How will they help you manage your business?

Accounting services with a focus on accounting for plumbers should be working to help minimize taxes while maximizing asset protection and maintaining the legal compliances as well as routine bookkeeping.

Question 3: How often will they meet with you to discuss your business goals?

As a business owner, you should be satisfied with the time and effort your accountant is allocating for your business. There are a lot of accountants to choose from. However, not all of them offer equal amounts of individual attention to all their clients.

Question 4: How can they save you money on your day to day costs?

Services experienced and focused on accounting for plumbers should be able to you’re your plumbing business cut costs in payroll, tools & equipment, vehicle, marketing and technology costs, plus more.

Question 5: What financial records do I need to maintain?

The accountant should be able to explain the purpose and importance of the following type of financial records:

• Financial statements –  Income statements, cash flow statement, balance sheet, statement of retained earnings
• General Ledger
• Business tax returns
• Business agreements 
• Contracts
• Business licenses and permits
• Insurance documents
• Payroll records

Question 6: What are the key services they can offer you in your field of business?

There are certain services which are unique to the plumbing industry. Get an overview of them from your accountant. They should include:

• Choosing between cash and accrual method of accounting
• Percentage of completion method
• Monitoring job costs and allocating indirect costs
• Classifying as large or small contractor
• Business & Risk Insurances
• Accounting software for payroll, invoicing, etc.
• Wealth creation strategies including retirement and transfer of Capital Gains
• Industry risk profiling
• Managing the Key Performance Indicators (KPI)
• Advice on sale, purchase, mergers & acquisitions etc.

Question 7: What software do they use to compute data and perform financial analysis?

In today’s age, newer accounting software can perform a detailed compilation of all the accounting data and provide additional information to do a detailed analysis of the business. Make sure that they have the best in tech to support you and your plumbing business.

ClienTax specializes in accounting for plumbers

Our team understands the plumbing industry which can mean the difference between just surviving and potentially thriving. Over the years, our team has assisted dozens of plumbers through various stages of their business life cycle – from start up right through to sale. We would love to offer you our experience, technical tax knowledge and most importantly, an accurate and personalized service that comes from our intimate understanding of your industry.

The physical demands of owning and running an electrical business range from long work hours, emergency calls, complying with regulations and ongoing training requirements. At the end of a day, the last thing you want to think about is your accounting responsibilities too!

Instead, rely on an accounting service familiar with the ins and outs of your electrical contractor business and can properly assist you in making sure all your financial requirements are met in a timely and accurate manner. When searching for an electrician accountant, be sure to ask the following 6 accounting interview questions.

6 accounting interview questions to ask as an electrical contractor

Question 1: What financial records do I need to maintain?

The accountant should be able to explain the purpose and importance of the following type of financial records:

• Financial statements –  Income statements, cash flow statement, balance sheet, statement of retained earnings
• General Ledger
• Business tax returns
• Business agreements 
• Contracts
• Business licenses and permits
• Insurance documents
• Payroll records

Question 2: What business expenses are deductible? 

A knowledgeable accountant should be able to help you claim benefits and explore new ways to cut expenses in areas related to:

• Use of vehicles or fleet services
• Tools
• Employee expenses
• Payrolls
• Insurances
• Charitable contributions

Question 3: When do I need to pay taxes?

Answer: As a business owner, you are responsible for paying taxes. The basic tax filing has certain dates decided by the IRS and other state authorities. 

Adhering to the deadlines is the accountant’s job. They can help you create payment plans and ensure you don’t incur any fines.

Question 4: What are the key services they can offer you in your field of business?

There are certain services which are unique to the electrical contractors and construction businesses. Get an overview of them from your accountant. They should include:

• Choosing between cash and accrual method of accounting
• Percentage of completion method
• Monitoring job costs and allocating indirect costs
• Classifying as large or small contractor
• Business & Risk Insurances
• Accounting software for payroll, invoicing, etc.
• Wealth creation strategies including retirement and transfer of Capital Gains
• Industry risk profiling
• Managing the Key Performance Indicators (KPI)
• Advice on sale, purchase, mergers & acquisitions etc.

Question 5: How often will they meet with you to discuss business growth and potential?

As a business owner you should be satisfied with the time and effort your accountant is giving your business. There are a lot of accountants to choose from. However, not all of them offer equal amount of individual attention to all of their clients.

Question 6: Are you a full-service accounting or bookkeeping firm or will I have to take my services elsewhere for taxes?

Bookkeepers and accountants often perform the same duties, but accountants typically have more training than bookkeepers. To legitimately claim the title of accountant means the person had to sit for an accounting examination. Accountants often have “CPA” after their names, which designates them as Certified Public Accountants.

Hiring an accountant will cost more than a bookkeeper. If you have a relatively simple business model with basic types of accounting transactions, a bookkeeper can probably handle that type of work. But if you have a more complicated system with large(r) payrolls, tax filings or you’re a corporation, you likely want to consider an accountant.

Be Prepared

Don’t be surprised if, once you’re done asking all your accounting interview questions, the accountant will have several questions of their own. Remember, they’re interviewing you just as much as you’re interviewing them. They need to understand your business model and specific needs and goals.

Evaluate Your Q & A’s

We recommend interviewing 2 -3 different accounting services for electrical contractors and then compare their answers. Here are some things to keep in mind:

• How did each electrical accountant respond to your questions?
• Are there any concerns or red flags?
• Did you like one person or company more than the others?

Whichever company makes you feel the most comfortable and garners the most “yes” responses to your questions should be the company you choose. 

Best of luck in your search. If you are looking for an accounting service for electrical contractor, we’d love for you to consider ClienTax.