Beware of red flags in contractor bids! Extremely low prices, vague answers, and high-pressure sales are warning signs. A trustworthy company provides clear explanations, detailed estimates, and a thorough process. #ContractorTips#Homeowner
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
Paying your contractor with cash or Zelle is a BIG MISTAKE. If they ghost you — it's gone. No recourse.
Credit card = chargeback protection the bank fights for you.
How are YOU paying your contractors? 👇 #ContractorTips#RealEstateInvesting
🚨 Homeowners — watch this BEFORE you ever hire a contractor 😱
Electrician shows up… drills once… and goes straight through the freezer.
(Okay, I’ll admit — as a contractor I almost laughed… until I pictured the repair bill 😂❄️)
As a contractor myself, I don’t find any humor in this — this is exactly why we need to be careful.
Bringing a contractor into our homes is a big step and shouldn’t be taken lightly. The first question we should ask is whether they are insured and with whom. We shouldn’t just gloss over this important part — ask for a list of references and do some due diligence during the selection process.
We should have a good understanding of exactly what they’re doing and how they plan on executing it. If they are working blind and alone in this situation, offer assistance — and if you’re uncomfortable participating, suggest they get a helper before work begins.
Protect your home. Protect your wallet. Don’t let this happen to you.
Tag every homeowner you know who needs to see this 👇
#ContractorTips#HiringContractors#HomeRenovation#ContractorFail#HomeownerSafety#RenovationNightmares
A lot of homeowners get stuck on the same question.
Do I talk to the contractor first, or do I line up the financing first?
That came up directly in this episode with Brian Baumann and Chris Osterlund of Rocket Mortgage, and the answer was clear: start getting the financing lined up first.
You do not need every final number locked in before that process starts.
What you need is a real understanding of your leverage so you are not wasting your time or the contractor’s time.
Then once you know the range you can comfortably work with, the contractor conversation gets sharper, the planning gets cleaner, and the project can move a lot faster.
Watch the full episode here: youtu.be/vnMDjo3ywcI#HireItDone#RocketMortgage#HomeImprovementProject#ContractorTips#RenovationPlanning
Are you a contractor or small business owner in Canada? Don’t risk being classified as a Personal Services Business (PSB) by the CRA.
In this video, MTS LLP explains what a PSB is, who it affects, and how to structure your business to stay compliant.
You’ll learn: What a PSB is and why the CRA targets them
The rules and tax implications of being classified as a PSB
How to structure your business and contracts to reduce risk
Practical steps to protect your business and demonstrate independence
Proactive strategies if you’re already at risk
Disclaimer: This video is for informational purposes only. It is not intended to solicit or promote MTS LLP’s services. Always consult an independent tax or legal advisor before making business or tax decisions.
#PersonalServicesBusiness#PSB#CRA#TaxTips#BusinessTax#SmallBusinessCanada#MTSLLP#TaxPlanning#CorporationTips#CanadaTaxes#BusinessAdvice#AccountingTips#ContractorTips