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The Paint By Numbers Blog
Maybe You Can Hire...The A-Team
Melissa Honan, CEO at Bookkeeping For Painters
“If you have a problem, if no one else can help, and if you can find them, maybe you can hire... the A-Team.”
We all have a problem and it is clear from the SBA’s recent bungle of assistance that, more than ever, small businesses cannot rely on government intervention and need to help themselves. We just swung from having the lowest unemployment rate in over 50 years to over 30 million unemployed Americans. Things aren’t good and we shouldn’t pretend that everything is sunshine and rainbows. But any successful business...
more3 Colors You Need For Social Isolation
Melissa Honan, CEO at Bookkeeping for Painters
First of all, I feel that I need to state that this article is in no way sponsored by anything or anyone other than Sheltering In Place by COVID-19, a musical. That’s right - I am going to pair the perfect song to listen to with each color that I have hand-selected for your viewing enjoyment. I’ll tell you where this color needs to go and what your life will be like once you’ve decided, “Does this spark joy? Hell yes, it does.” You’re welcome.
morePPP Update: Your Guide to the Paycheck Protection Program
Morgan Ray, COO, Bookkeeping For Painters
One of the largest topics of conversation recently has been the Paycheck Protection Program- navigating applications, who have (or will) receive funding, and how does the forgiveness component work? We’ve compiled some updates and relevant items to keep in mind as you decide how to utilize this program to your best benefit! Funding for the PPP: Many businesses report still receiving notice of approval and receiving funding, despite the news that the program’s funds have “run out”. There is also an additional funding bill working its way through Congress this week..so if you are still...
moreOpinion: Does the Paycheck Protection Program actually help?
Morgan Ray, COO of Bookkeeping for Painters
Although funding has recently stalled, a lot of business owners are still trying to figure out what to make of the Paycheck Protection Program. Is the PPP a help to them or a massive distraction?
The "free money" phrase keeps getting thrown around a lot, and in many senses it’s not inaccurate to say that, but it’s accompanied by a fair amount of confusion about how this program operates. At the end of the day, the PPP is a loan program with the potential for forgiveness. The idea here is they (banks and the SBA) approve the loan amount for 2.5 times your monthly...
moreFinance Resource Guide
Bookkeeping For Painters
Scroll down to find additional information on the following:
- Helpful Links
- Receivables & Deposits
- Credits Cards & Lines of Credit
- Loans
- Deferred Payments
- Tax Filing and Refunds
- New Leave Requirements
- Tax Credits for Sick/Family Leave
- CARES Act: Passed into law on March 27, 2020
- Additional Resources
5 Ways To Boost Your Business From Home
Melissa Honan, CEO at Bookkeeping For Painters
This past Wednesday, President Trump signed the Families First Coronavirus Response Act, which gives small business owners new tax credits and federal payroll-tax relief to help offset some of the new paid-leave requirements. What does that mean? It may be more beneficial for you to retain your employees, take advantage of these relief measures, and use this time to work on developing your business from the inside rather than hunker down and hope it's over soon. When production slows, that doesn’t necessarily mean that there isn’t any work to do. Here are five ways to boost your business...
morePainters in a Pandemic
Morgan Ray, COO at Bookkeeping for Painters
The rapid changes we have been seeing in the last weeks, and especially the past few days, have left many with a feeling of surreal shock. It's understandable. Such dramatic shifts in public and economic policy are unprecedented, in both their scope and scale. We know a few things for certain- market indicators and federal policy are signaling major upheaval in the economy (no surprise to most of us), and relief measures are often slow to implement and questionably effective. Tax credits or slashed interest rates are of little comfort to owners who may be struggling to pull...
moreSolutions To Your Cash Flow Problems
Daniel Honan, Bookkeeping For Painters
Does your business struggle to maintain enough cash in the bank to pay vendors, employees, and bills on a regular basis? If so, you are not alone. According to a study by US Bank, 82% of small businesses fail due to poor cash flow. Managing your cash is crucial to staying in business, and more importantly, making money.Like the saying goes “Revenue is vanity. Profit is sanity. Cash is reality”. Your business might be profitable on your Profit and Loss and have hundreds of thousands in sales, but yet still struggle to pay its expenses. What can you do about this? Below are 3 strategies you...
moreYou Started a Business...Now What!?
Morgan Ray, COO at Bookkeeping for Painters
It’s an exciting time for you- you’ve started running a business, which includes booking jobs, taking payments, and paying your team. It all happened sort of quickly, and you didn’t really have a “business plan” down on paper...but hey, you’re making money! Now you just need to learn how to manage it all so you can grow! Sound familiar? This is not an unusual place to find yourself in- in fact, it’s where a lot of business owners begin! But now it’s time to pause and take a closer look at what you’ve been up to. There are several key steps that you should take to protect the business...and...
morePainter Performance Pay System
Bookkeeping For Painters
Bookkeepingforpainters.com Hubdoc Top 50 Cloud Accountant
Bookkeeping For Painters
BookkeepingForPainters.com was selected as one of Hubdoc’s Top 50 Cloud Accountants of 2018 in North America!
”Best-in-class accountants and bookkeepers understand the importance of defining a niche, and Daniel has managed to do so with huge success! Having formerly owned his own painting business, Daniel is uniquely positioned to help painting businesses streamline their back office. Leveraging tools such as QuickBooks Online, ...
moreAnalyze Your Painting Business Profit & Loss Report
Bookkeeping For Painters
Painting Business Zero Based Budget
Bookkeeping For Painters
A New Way For Painting Business Owners To Save Money On Health Insurance
Bookkeeping For Painters
With the costs of healthcare on the rise, offering group health plans just isn’t an affordable choice for most painting contractors. But it’s never been more important to help shoulder the cost of sky-high premiums for the individuals on your team, and competitive benefits packages prove to be one of the most effective recruitment tools year after year.
Luckily, there’s a new type of tax-advantaged arrangement called a QSEHRA, specifically designed to help painters, contractors, and other small businesses with less than 50 employees afford health benefits for their team. By allowing...
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