Construction Contract Workers – Hiring and Paying
Things you need to know as a business owner in construction paying contract workers by cash, cash is traceable no matter what you do? How it is paid? Not reporting cash payments that are a qualify expense, failing to calculate the premiums work on the job site. You need help with your bookkeeping, we can also help provide advise new regulations for construction industry and hiring contract workers.
Need help to know what to offer your contractors benefits and/or allowances?
Do you hire and pay construction contract workers and tradespeople? Many small businesses in the trades like electricians, plumbers, insulation contractors and landscapers pay contract workers in cash because the paperwork is so daunting.
Why are cash payments a problem for you?
- Cash payments mean you can’t reduce your tax with a qualifying expense.
- It’s difficult to track, and even harder to prove that someone was paid.
- The tradesperson does not need to accept legal liability or responsibility for their worksmanship.
- It makes it difficult to work out whether your projects are making a profit or loss
Instead of taking on extra risk, rather outsource the paperwork that you dread. We can help with your bookkeeping, and advise on new regulations for construction industry and hiring contract workers.