Artem Kakadiy, CPA

CEO of Toran. We provide expert CFO, Tax Services to growing construction businesses. Enjoy the outdoors and stop stressing about your accounting and tax needs.

[Artem Kakadiy, CPA @AXKcpa]

3 things every contractor should know!
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#CPA #Construction #TaxAdvise #TaxHelp

[Artem Kakadiy, CPA @AXKcpa]

This simple mistake almost cost him $190K! If you find your business is in a sticky situation, give us a call and let us help you!
#CPA #Construction #TaxAdvise #TaxHelp

[Artem Kakadiy, CPA @AXKcpa]

A contractor got a letter from the IRS saying he owed $190,000 in back payroll taxes and penalties. Here is the twist: he had paid his taxes the whole time.
Payroll has two jobs. One, deposit the money with the IRS. Two, file the payroll tax returns that tell the IRS what those deposits were for. His cheap payroll service only did the first one. The money went in on time every period, but the returns never got filed, so on paper it looked like he never paid.
This is the hidden risk with the cheapest payroll option in town. Part 1 of 3.
Got employees? Pull up your account this week and confirm your payroll returns are actually being filed, not just your deposits being made. Not sure how to check? That is exactly what we do. Link in bio.
#payrolltaxes #contractorlife #irs #smallbusinesstips #constructionbusiness #bookkeeping #utahbusiness #payrol

[Artem Kakadiy, CPA @AXKcpa]

Contractors face income volatility with big year-end swings. A simple system can prevent costly surprises and provide accurate tax projections year-round. #ContractorTips #BusinessFinance

[Artem Kakadiy, CPA @AXKcpa]

Don't just worry about last year's taxes! April 15th is also the deadline for your first quarter estimated tax payment. It's a double tax whammy, so let's get it sorted. #TaxTips #Finance

[Artem Kakadiy, CPA @AXKcpa]

Don't let Tax Day shock you. If you owe $87,000 and it blindsided you, it's time to rethink your accounting. Partner with a CPA who's invested in your success. #TaxTips #CPA

[Artem Kakadiy, CPA @AXKcpa]

Misclassifying workers as 1099 contractors might seem easy, avoiding payroll taxes, benefits, and compliance. But this "trap" can lead to costly penalties, back wages, and interest. #PayrollTaxes #Compliance #BusinessTips

[Artem Kakadiy, CPA @AXKcpa]

Misclassifying contractors can cost tens of thousands! The IRS & DOL care about the reality of your relationship, not your contract. Understand the 3-part test (behavioral, financial, relationship) to avoid costly mistakes and penalties. #1099vsW2 #ContractorTips #Payroll

[Artem Kakadiy, CPA @AXKcpa]

Deciding between a 1099 contractor and an employee? The IRS has a 3-part test: behavioral, financial, and relationship. If you dictate when, where, and how the work is done, they're likely an employee. #BusinessTips #HR

[Artem Kakadiy, CPA @AXKcpa]

S corp contractors paying themselves $40k on $400k net income: there's bad news. You're not being smart and you're setting yourself up for an audit you don't even know is coming. #SCorp #TaxTips

[Artem Kakadiy, CPA @AXKcpa]

Distributions aren't always safe from self-employment tax. Tax authorities can reclassify them as salary, leading to penalties and back taxes. Avoid this by handling distributions correctly. #TaxTips #SmallBusiness

[Artem Kakadiy, CPA @AXKcpa]

S Corp contractors: Paying yourself $40k on $400k income? You might be setting yourself up for an audit. The IRS requires a reasonable salary based on your role, hours, and market. Don't guess – use real data to avoid tax traps. #SCorp #TaxTips #Contractor

[Artem Kakadiy, CPA @AXKcpa]

Cash and profit aren't the same. Owner draws, like buying a ski boat, aren't tax-deductible expenses against your net income. Understand the crucial difference for your finances. #FinanceTips #Business101

[Artem Kakadiy, CPA @AXKcpa]

Profit isn't the same as cash. Loans and owner draws boost cash flow but don't always hit the profit & loss. Understanding this difference is key to financial health. #FinanceTips #Business

[Artem Kakadiy, CPA @AXKcpa]

Contractors often show profit but have little cash. Why? Profit is an opinion, cash is a fact. Understand the crucial difference to avoid financial surprises. #ContractorTips #FinancialLiteracy

[Artem Kakadiy, CPA @AXKcpa]

Builders often face a numbers problem, not a revenue one. Clean bookkeeping is crucial in construction due to complexities like job costing, change orders, subcontractor payments, and retainage. #Construction #Bookkeeping #BusinessTips

[Artem Kakadiy, CPA @AXKcpa]

Hiring in-house accountants can quickly become expensive with payroll, benefits, and software costs. Even an entry-level bookkeeper can cost around $80,000 annually. Plus, consider the risks of turnover and a single skill set. #BusinessFinance #Outsourcing

[Artem Kakadiy, CPA @AXKcpa]

Construction businesses often struggle with numbers, not revenue. Complexities like job costing and change orders make accurate accounting crucial. Bad books lead to bad bids. #Construction #BusinessTips

[Artem Kakadiy, CPA @AXKcpa]

Don't spend a dollar to save 30 cents on taxes. Business purchases should earn their keep operationally, not just for a tax deduction. Make smart buys based on projections, not just year-end tax goals. #TaxTips #Business

[Artem Kakadiy, CPA @AXKcpa]

Builders often wait until tax time for deductions. Talk to your accountant BEFORE buying equipment, not after. Assets must be purchased and in service by Dec 31st for that year's deduction. Don't buy it on Dec 31st if it won't be used until January! #TaxTips #Construction