CPA & Tax Services for Contractors in Seattle, WA
You focus on building your business. We focus on keeping your finances and taxes on track.
- Specialized Washington State B&O knowledgeWe help contractors distinguish retail and wholesale construction activities and report revenue under the appropriate classifications.
- Proactive tax planningWe help plan equipment purchases, vehicle deductions, estimated taxes, and year-end strategies instead of waiting until tax season.
- Personalized serviceWe work with independent contractors, subcontractors, and established construction companies, tailoring services to their size and operations.
Our goal is simple: Help you spend less time worrying about accounting and taxes and more time running profitable projects.
At BookSmart Accounting, we help general contractors, subcontractors, construction companies, and independent contractors manage their accounting, taxes, and financial obligations.
We understand the challenges of running a construction business, from tracking materials and labor costs to managing subcontractors, fluctuating cash flow, and Washington State B&O tax requirements.
Our services include tax preparation, quarterly estimated taxes, Washington B&O tax filings, LLC and S corporation tax planning, and equipment and vehicle depreciation strategies.
We take a proactive approach to tax planning, helping contractors evaluate major purchases, maximize eligible deductions, and prepare for tax obligations throughout the year.
Whether you're an independent contractor just starting out or an established construction company managing multiple projects, we provide personalized accounting and tax support to help you stay compliant, understand your profitability, and grow your business.
Questions contractors ask us most
- Should I operate my construction business as a sole proprietor, LLC, or S corporation?
- How can I reduce my business taxes and self-employment taxes?
- What expenses can I deduct for my construction business?
- Can I deduct trucks, equipment, tools, materials, fuel, and vehicle expenses?
- Should I purchase equipment or a business vehicle before the end of the year to reduce my taxes?
- How do I report income and expenses for different construction projects?
- Do I have to pay Washington State B&O tax even if my business has little or no profit?
- What is the difference between retail construction and wholesale construction for Washington B&O tax purposes?
- Can I deduct subcontractor payments or sales tax paid on construction materials from my B&O taxable income?
- Should I hire workers as W-2 employees or independent contractors?
- Do I need to issue Form 1099-NEC to my subcontractors?
- How much should I set aside for quarterly estimated taxes?
- How can I improve cash flow when customers pay late or construction projects take months to complete?
What BookSmart Accounting helps contractors with
- Tax preparation and planning: Prepare business and personal tax returns and develop strategies to reduce taxes legally.
- Washington B&O tax filing: Prepare monthly, quarterly, and annual B&O tax returns, review appropriate classifications, and identify eligible deductions and credits.
- Job costing and profitability: Help contractors understand how much they earn on each construction project after accounting for materials, labor, subcontractors, and other costs.
- LLC and S corporation planning: Evaluate business structures and tax elections based on actual income, expenses, and long-term goals.
- Equipment and vehicle tax deductions: Evaluate depreciation, Section 179, and available bonus depreciation, including the timing of qualifying purchases.
- Quarterly estimated tax payments: Calculate estimated taxes based on business income and expected profitability.
- Financial statements: Prepare profit and loss statements, balance sheets, and other financial reports to help contractors understand business performance.
- IRS and Washington DOR assistance: Help resolve tax notices, review previous filings, and correct reporting errors.
What makes BookSmart Accounting a good fit for contractors
- Understanding of construction businesses: We recognize that construction accounting is different from ordinary bookkeeping because contractors must manage multiple projects, material costs, subcontractors, and fluctuating cash flow.
- Specialized Washington State B&O knowledge: We help contractors distinguish retail and wholesale construction activities and report revenue under the appropriate classifications.
- Proactive tax planning: We help plan equipment purchases, vehicle deductions, estimated taxes, and year-end strategies instead of waiting until tax season.
- Personalized service: We work with independent contractors, subcontractors, and established construction companies, tailoring services to their size and operations.
- Complete accounting services: We provide tax preparation, financial reporting, and tax planning in one place.
- Local Washington expertise: We understand the state tax obligations affecting contractors operating in Seattle and throughout Washington.
Bring your numbers. Leave with a plan.
We'll recommend the plan that fits.