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Money & Taxes12 min read
Filing a 1099-NEC for Subcontractors: The $290 Late Penalty Trap
Filing a 1099-NEC for subcontractors is required if you pay an unincorporated trade $600 or more in a year. File by January 31st to avoid $290 IRS penalties.
Money & Taxes
Cash flow, tax deductions, bookkeeping, invoicing, and financial moves that keep more money in your pocket.
Q
Money & Taxes10 min read
What to Do When a Client Misses a Progress Payment
When a client misses a progress payment, stop work immediately, secure the job site, and issue a written notice of default before your crew returns to work.
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Money & Taxes9 min read
Stop Playing Bank: How to Structure Progress Payments and Get Paid Faster
Contractor progress payments should keep you cash-flow positive. Use a 40/40/20 schedule tied to project milestones, never time, to avoid funding client jobs.
Q
Money & Taxes11 min read
Section 179 Vehicle Deduction: Don't Buy a Truck Just for the Tax Write-Off
The section 179 vehicle deduction lets contractors write off a truck's full price in year one, but it isn't free. Here is the real math and cash flow impact.
Q
Money & Taxes9 min read
The Section 179 Truck Trap: Contractor Tax Write-Off Mistakes Costing You Thousands
The contractor truck tax deduction lets you write off heavy vehicles using Section 179. But buying a $75k truck just to save on taxes kills cash flow.