Money for contractors: getting paid and paying helpers

Plain guides to the money side of a trade business, built from the IRS's own instructions and each state's own statutes, plus free calculators and templates you can use on the page.

8Guides

3New free calculators

FreeNo sign-up

Getting paid

GuidePayment terms and net 30Net 30, net 15, due on receipt, deposits and late fees, in plain words.GuideMechanics lien deadlines by stateThe filing deadline in each state, read from the state's own code.GuideCredit card surcharge rulesState laws and Visa's rules on adding a card fee, quoted from the source.

Paying helpers

Guide1099 vs W-2 for your first helperThe IRS test in plain words, what each choice costs and the paperwork.GuideW-9 and 1099-NEC deadlinesThe $2,000 threshold, January 31 deadline and backup withholding.

Pricing and profit

GuideGross vs net marginIs the job priced right, and does the business keep anything?GuideMarkup vs marginWhy a 40% markup is not a 40% margin, with a conversion table.GuideFlat rate vs time and materialsWho carries the risk, which jobs fit each, and how to protect yourself.

Free calculators

They work on the page, show every step, and need no email.

Paying helpersTake-home pay calculatorFederal withholding from IRS Pub 15-T, Social Security and Medicare, line by line.Your own taxesQuarterly estimated tax calculatorSelf-employment tax and income tax from the IRS 1040-ES worksheet.PricingFlat-rate price book builderYour labor rate and markup across a priced task list. CSV out.PricingMarkup calculatorMarkup and margin both ways.PricingLabor rate calculatorWhat to bill per hour from your real costs.ProfitProfit margin calculatorGross and net margin from your numbers.

Templates for getting paid

LettersPast due invoice lettersFirst, second and final notice.WaiversLien waiver templatesConditional and unconditional, with each state's statutory forms.FormCredit card authorizationCharge a card on file with a signature.TemplateInvoice templateLines, tax, deposit paid and the balance due.

Or let Koira keep the money moving

Koira's free Office plan builds the invoice when you tap done, takes card payments with a pay link, and shows who is late. Grow adds QuickBooks Online.