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Need informating about managing a construction business?

I'm getting my home improvement contractors license but I'm not really shure how you do all the financial aspects of it. I know you need pay for liability insurance . But I'm not shur how to tax jobs any information would be helpful. Also iiwas wondering if you could set up a bank account where if I deposited the check from a job they could just take the taxes rate out? Thank you

Asked By: - 9/4/2012
Best Answer - Chosen by Asker
1. Set up the appropriate legal entity for your business. Construction projects involve a lot of liability and risk. Your construction company must be protected against such exposure by means of a legal barrier, which includes establishing your company as a corporation, limited liability company or partnership. This... More
Answered By: Andrew Strauss - 9/5/2012
Additional Answers (2)
Sorry u not nearly ready to bid on large jobs... More
Source(s):
Answered By: Rob - 9/4/2012
 
Before I even opened a bank account, I would retain a local accountant or accounting firm. They can handle taxes, employee witholdings, etc. They are usually pretty good at guiding through the insurance and bonding process also. Good luck!
Answered By: Mark - 9/5/2012
 
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