General Tax Planning and Financial Review

the main issues so I see roofing companies siding companies a lot of them bring on subcontracting crews and these are guys that I want them to be aware of if they're just starting out you are going even though even though every time they're Tom Dick and Harry inside of those industries is getting away with it for now eventually time will catch up and when it does it is one cruel son of a duck I'll tell you that right now yeah yes you will all right what other IRS red flags are we looking at that guys I want these guys to have on their radar screen so they're doing it the right way yeah oh that's a great one that you mentioned for for the small guys especially when you start out you know you're like I don't want to have to have an employee I'm just gonna sub them so that's a great point um the other thing I mean you know when you look at your your return you know I always look at it and make sure things make sense you might not be able to do that but that's why I just recommend having somebody do your stuff for you see all of you know for your cost of goods sold you know all things should be certain percentages of girls profit you know if your is your gonna you mark up on your jobs right your girls profit should be positive and then from there your other expenses things we talked about the lower tax should be fine but you know things should be in line if they're not I mean if I'm an IRS auditor and I see well this guy does spends more at his materials and he brings him for money that doesn't make sense either doesn't go oh he's bidding or he's not something right or he's just not bidding the right way and right which could be possible but over time I mean your things have to make sense you know or if one numbers way you know just you want to categorize a little bit it's that you don't just tell them why I had a hundred thousand of income and fifty thousand of miscellaneous expenses that's gonna be a red flag for them or like why are they not keeping any detail you know it should be you know I've got a thousand of office supplies ten thousand oh four pairs and me or you know whatever you got to break that down so they don't knock yourself crazy over you know should this be office supply or tool but you know put a little bit of thought in you know try to separate a little bit the more information you give them the less likely they're gonna have a question and nobody likes to get questions from them right so let's let's go let's do a recap let's do it just a…