Host Jeff Williams of The Construction Cowboy Show, talks with Robert Wood, Founder of Wood and Sons Accounting and Tax, about the cashflow and bookkeeping problems that often trip up construction businesses. Wood explains how to read profit and loss statements alongside balance sheets, plan hiring and job costs, prepare for taxes, and keep reliable records before surprises become costly.
Host Jeff Williams of The Construction Cowboy Show, talks with Robert Wood, Founder of Wood and Sons Accounting and Tax, about the cashflow and bookkeeping problems that often trip up construction businesses. Wood explains how to read profit and loss statements alongside balance sheets, plan hiring and job costs, prepare for taxes, and keep reliable records before surprises become costly.
Rob is an entrepreneur and federally credentialed Enrolled Agent who is known for his candid, no-nonsense approach and his nickname, the “IRS Slayer,” Rob works with business owners who want more than an annual tax return. His focus is helping them understand their financial picture, plan proactively for taxes, maintain useful records, and make sound business decisions before problems arise.
His work spans tax planning and filing, financial recordkeeping, payroll, business structure, and practical growth advice. Rather than treating accounting as a once-a-year compliance exercise, Rob emphasizes ongoing conversations and clear information owners can actually use to run their companies. His experience includes working with businesses across a variety of industries, including hands-on and unconventional enterprises.
For construction and trades business owners in particular, Rob can connect the numbers to everyday decisions: whether cash flow can support another crew, how equipment purchases and payroll obligations affect financial health, how to prepare for tax bills, and why a busy, profitable-looking business can still end up short on cash.
Rob is also happy to discuss the realities of entrepreneurship, including the lessons learned while building his own firm, and he brings an accessible, straightforward style to financial subjects that often feel intimidating.
Key Topics:
Wood distinguishes the profit and loss statement, which shows whether a business is making money, from the balance sheet, which helps reveal where cash is going, including debt service and owner distributions.
Before adding a crew, he recommends checking how far ahead jobs are booked and whether job costing accounts for material expenses and actual margins.
For S corporations, Wood says owners should take a reasonable W-2 salary rather than rely on distributions and face a large tax burden later.
Contractors should evaluate payment timing and get enough money up front to cover costs, especially when clients may take 90 days to pay.
Wood describes his client process: initial fit conversation, onboarding and engagement letter, book review, tax projection, and recurring strategic meetings.
Reliable records include receipts, monthly bank and credit-card reconciliations, and keeping payroll and tax compliance current; a labeled monthly envelope is a simple starting point.
Wood says sensitive client data should not be entered into consumer AI tools, and describes using centralized systems for receipts and business information.
He discusses 100% bonus depreciation and stresses that eligible equipment must be placed in service by year-end to qualify under the rules he describes.
Wood recommends honest conversations with an accountant and transparency about financial records, tax projections, and potential problems.
Takeaways:
Ø “That's the biggest thing. But then the real issue is in the balance sheet. It says where's the money going?”
Ø “We always want to make sure, especially in the business world for at least the construction guys, that if they have an S Corp, they're taking a reasonable W two salary.”
Ø “Usually, I look at the job capacity, how far out are you booked?”
Ø “You also need to be picky and choosy and understand what the true scope of the work [is], how long do you get paid.”
Ø “You have to be picky and choosy.”
Ø “We like to then set up monthly meetings to actually be that strategic advisor.”
Ø “The numbers never lie, but people do.”
Ø “Receipts are gonna be the biggest thing because in the event of an audit, the receipts are what actually give the business owner the justification for the transaction.”
Ø “You can a good habit, simple practice to start, keep a manila envelope, put all your receipts in there for the month.”
Ø “If you don't know where your profit is by this time of the year, you're up.”
Action Items:
Compare profit and loss results with the balance sheet to identify where cash is going, including debt service and distributions.
Before hiring another crew, review booked job capacity and job-level costs, especially materials.
Review payment terms and cash needs before accepting a project; seek enough upfront payment to cover expenses.
Keep receipts organized by month and reconcile bank and credit-card balances.
Schedule regular financial reviews and request a tax projection before year-end.
Sound Bites:
"Where's the money going?"
"How far-out are you booked?"
"Just label it."
Chapters:
- Meet Robert Wood and the construction cash-flow challenge
- Profit and loss versus the balance sheet
- Owner draws and reasonable S corporation salary
- Check job capacity and material costs before hiring
- Choose projects with payment timing and cash needs in mind
- Wood’s client onboarding, book review, and tax projections
- Salary, distributions, payroll, and preparing books for a sale
- Receipts, reconciliations, and payroll compliance
- Accounting technology, sensitive data, and AI
- Equipment purchases and bonus depreciation
- Lessons from running a business and Wood’s closing advice
- Where to reach Robert Wood
# Navigating Cash Flow Challenges in Construction
Insights on cash flow management and accounting pitfalls from Rob Wood
Managing cash flow can be a complex challenge for many business owners, especially in the construction industry. In this episode of the Construction Cowboys Show, host Jeff Williams speaks with Rob Wood, founder of Wood and Sons Accounting and Tax, about common cash flow mistakes and how to maintain a healthy financial picture.
## Understanding Cash Flow
Rob emphasizes the importance of knowing not just whether you're making money, but where that money is going. "The real issue is in the balance sheet. It says where's the money going?" He points out that many contractors might be profitable on paper but still find themselves short on cash due to mismanagement of funds, debt service, and poor financial planning.
"Don't ever be desperate, especially if you feel like you need to take a job. You also need to be picky and choosy and understand the customer." — Rob Wood
## Common Pitfalls for Contractors
One recurring issue is the tendency for business owners to take draws instead of a consistent salary. Rob advises that understanding your tax classification is crucial; for instance, S Corporations require owners to take a reasonable salary. "I've seen businesses where they will actually just take distributions and then gross it up to salary at the end of the year but then they have a huge tax burden in the end."
## Preparing for Growth
When considering adding new employees or job crews, Rob stresses the need to evaluate job capacity and whether you’re making enough profit on current projects. He highlights that many construction businesses often miscalculate material costs, which can severely impact cash flow.
## Strategic Financial Planning
Rob discusses the importance of having a strategic advisor who understands the nuances of the construction business. Monthly meetings can help business owners focus on working on their business instead of just in it. He states, "If we don’t take that time to actually realize what’s going on in your business and have those real conversations, that’s where most business owners fail."
## Closing Thoughts
Navigating the complexities of cash flow and accounting in the construction industry can feel overwhelming. But with the right guidance and a clear understanding of financial strategies, it can lead to more sustainable growth and success. To dive deeper into Rob's insights and learn more about effective financial management, tune into the full episode.
Connect with Jeff Williams:
I am a “Boots on the Ground Problem Solver” for Business Owners!
Contact: (307) 372-9052 O. (630) 973-6481 D.
Website: www.merchantcommodites.co
Landing Page: https://trailblazerecosystem.com/subscribe/jeffwilliamsmcsolutions
Email: Theconstructioncowboyshow@gmail.com
Email: Jeff@merchantcommodities.co
Email: JeffWilliamsConsulting357@gmail.com
LinkedIn: https://www.linkedin.com/in/jeff-williams-merchant-commodities/
Facebook: https://www.facebook.com/profile.php?id=61559698873942
Alignable: https://www.alignable.com/sheridan-wy/merchant-commodities-llc?user=17404768
Instagram: https://www.instagram.com/mcjeffwilliams/
TikTok: https://www.tiktok.com/@user9209881636161
X (Twitter): https://x.com/JeffWilliams357
YouTube-The Construction Cowboy Show: https://www.youtube.com/playlist?list=PLTDOWvl_Gal8drwfKxl_YqMuLDLU5YFHE
Spotify: https://open.spotify.com/show/67ozf16BBSgLnvPHGhU2nc
Jeff Williams (00:00)
Hey folks, good morning. Welcome back to the Construction Cowboys Show. I'm your host, Jeff Williams, for another fun ride where we chat with folks and about life's talents and gifts and a little straight talk and the boots on the ground problems and solutions. And today's episode is about cash flow mistakes, revenue and profit translation, and record-keeping habits. we have a
Guests with us today, very special guests, Mr. Robert Wood and AK Rob. And he's the founder of Wood and Sons Accounting and Tax. they help business owners focus on understanding financial picture, maintaining records, and helping people make good sound decisions. Rob, thanks for taking time to out of your busy schedule to be on the show today and share some great insights to accounting. So if you would just
Give the listeners a little bit of background where you're located, how you got started, and what's new in the business.
Robert Wood (00:54)
My name's Rob Wood. I'm a local accountant in Newport Ridge, Florida, just outside of Tampa Bay. I am I grew up very blue-collar. So I was originally a farm boy in Williamston, Michigan. So I grew up in the cornfields. I've been involved in my own family businesses for a long time. I've been practicing accounting for about 15 years. Right now, the biggest thing to remember in the
what's new these days is keeping up on the tax and accounting world, especially the cash flow. A lot of business owners just run by the seat of their pants, but they don't actually have a proper advisor that they can talk to actually get from those sound strategic decisions. What I see right now is the one big beautiful bill is one of the best things out there, but it's also w it's one of the best things out there that a lot of people
need to definitely understand because those tax advantage strategies are definitely out there.
Jeff Williams (01:50)
Well, you know, they are and having someone like yourself to walk through that and again that I've I've been there and done that and it's a kind of a muddy world and and so if you don't have somebody that actually knows that day in and day out and it's just it's a big challenge. So hey, well I got a quick qu you know, a few questions and so why can a business con or busy contractor still be short on cash flow? You know w
Sometimes there's revenue and sometimes there's profit, but sometimes they still can't figure out why there's no money in the bank.
Robert Wood (02:19)
So
usually I look at it this way. I like to describe it in very kindergarten type terms, right? You look at your profit and loss, that essentially tells you, A, are you making money?
That's the biggest thing. But then the real issue is in the balance sheet. It says where's the money going? Is it in the debt service? Is it in the distributions? Are you paying credit cards? Are you over leveraged as well? That's usually what I like to look at with that and truly see where businesses are failing, right? it's definitely if you're not if your cash flow is short, it's usually the debt service.
Jeff Williams (02:52)
Well, you know, I've been around it little bit in the past and I've noticed that sometimes it's not everyone, but just some people, if they're owners, they'll do a draw versus having a salary and sometimes they'll just dip in and grab something that, you know, they want to go do something or need to they think they need to go do something. And so my question is to you, is that do you find that still today a lot that happens and it's hard to manage for the client or
Do you have a set of rules and kind of guidelines that you set in place for them?
Robert Wood (03:21)
I do there's a lot of businesses that come to me or that are a big mess, right? The biggest guideline I have is we look at what's your tax classification. A lot of businesses tell me, hey, I'm at LLC, but then I literally ask them directly, Are you a where do you tax as? And if they don't know, then what I say is
We need to see, do you file a separate return? If it's an S Corp, that's the biggest thing because what the IRS says you need to take a reasonable salary. What the IRS doesn't say is what that actual amount is. What the code says is what someone reasonable in your line of work would do. I've seen businesses where they will actually
just take distribution and then gross it up to salary at the end of the year but then they have a huge tax burden in the end. We always want to make sure, especially in the business world for at least the construction guys, that if they have an S Corp, they're taking a reasonable W two salary. That's where a lot of businesses can definitely get messed up these days.
Jeff Williams (04:16)
Yeah, that makes really good sense. absolutely. So what should an owner check before adding, say, another crew? I mean, what you know, what kinda do you kinda give some coaching and guidelines before they add a bunch of employees or what do I say crews, job crews?
Robert Wood (04:29)
Usually I look at the job capacity, how far out are you booked? That's the first thing. The second thing, are you actually making enough money on your job? So you're looking at your job costing a lot of businesses, especially in the construction world, they literally will get screwed up on the materials because materials are usually the biggest problem that a lot of business owners actually have these days. So it's essentially
Jeff Williams (04:51)
Didn't
Robert Wood (04:51)
assuming where the cash flow constraints are.
Jeff Williams (04:53)
And I know this is more of a legal step, but do you help or assist with even contract and looking at some of their language and some of those subcontract type arrangements for or not?
Robert Wood (05:04)
usually I will refer it out. I work with a bunch of great attorneys for that specific area of it. Of course there's a lot of accountants out there that like to play make believe attorney, but I always like to make sure it's of the above sound and above mind so that the business owner has the absolute best idea of what's going on in their business.
Jeff Williams (05:23)
Yeah, very cool. Hey. I gotta ask the fun question. you know, how did you earn the nickname IRS Slayer?
Robert Wood (05:31)
so what it is I've found that a lot of a lot of people get afraid of the IRS, right? They'll literally get afraid of it, but in reality is I've s proven the IRS wrong multiple times. And essentially what it is even the IRS will overcharge someone. But what we're doing is we are legally proving that it is
not correct, right? 'Cause well, everyone thinks that the government's right, but in reality the government can be wrong too.
Jeff Williams (05:55)
Yeah. Well I know that a few times I've had some things and it's kind of a challenge again. So, you know, I've I can appreciate a good expert, you know, in
Robert Wood (06:04)
Mm-hmm.
Jeff Williams (06:04)
in their corner for sure. so why do why don't revenue and profit always translate into and you answered it earlier, but I want you to drill in a little bit more because
Cash is always king and cash flow is really important. And I think that's what a lot of construction companies don't realize, especially when they're estimating jobs. They just and I know things are tight, you know, builders and owners, they just beat you to death. But it to me it you it'd be easier to walk away from the job than to take the job and lose. And so, what do you say to in regards to really
Robert Wood (06:37)
don't ever be desperate, especially if you feel like you need to take a job. You also need to be picky and choosy and understand the customer what the true scope of the work is, how long do you get paid? Because I've seen a lot of construction guys that they will not get paid for ninety days, but in reality they are paying their staff, paying the materials and they're waiting for the G C or the subs to get paid, you know. That's usually what I would say is you have to be picky and choosy.
A lot of people will actually go and fly by the seat or their pants with this type of stuff, but in reality the more strategic the better so you don't over-leverage the business because every business owner does have a lot of cash flow problems. That's essentially making sure you at least get a good amount paid up front to cover your expenses because you don't know when those specific draws like the rough or the trim will actually be paid and who's actually checking on it.
Jeff Williams (07:26)
I see, I'm gonna kinda shift a little bit. you are I can't remember what state you're out of. Is it Florida? I can't remember. Yeah.
Robert Wood (07:33)
Florida, yes sir.
Jeff Williams (07:34)
Yeah. And so are you are you good for the whole state and can you actually service clients nationwide or in other states that you may be licensed
Robert Wood (07:41)
So
Jeff Williams (07:42)
in?
Robert Wood (07:42)
So I'm actually a federally authorized tax practitioner, which means that I can practice in all fifty states. I have IRS cases from Los Angeles up to Maine and over to Michigan. So
Jeff Williams (07:53)
Okay, perfect. Well let's take
just a second and give the listeners your just a contact information, an email or a website or something that they can get a hold of you, phone number, whatever you want to do, just take a pause here,
Robert Wood (08:04)
Well
Jeff Williams (08:05)
commercial break here and do that.
Robert Wood (08:06)
my name's Rob Wood & Sons Accounting & Tax ,we have a website, Wood W O O D A N D S O N S AccountingandTax.com Best cell phone to reach me 727-602-6910 We also have a big social media presence as well on Facebook, Instagram. We're starting to get on TikTok and LinkedIn. a lot of the real tips will actually go on
Like dead these days.
Jeff Williams (08:31)
Fantastic. Thank you so much for that. And so right here we're just gonna I'm gonna give you about ten minutes, if you don't mind, and just drill into your business. And you may answer a lot of the questions that I may already have in front of me, but that's okay. and I just want you to kind of walk a client through your process and procedure from time you get a phone call or whatever, and just give them some really good insights and how they can really learn to work with you and what you can do to service them.
Robert Wood (08:58)
Yeah, so usually what it is we go with the initial consultation because what I'd like to see is a are we a good fit? I don't take every client on. I call it a vibe check because I don't like dealing with not nice people, right? You wanna have
Jeff Williams (09:12)
Yeah.
Robert Wood (09:12)
a I call it like you wanna have an accountant that you can have a beer with, have a cigar with, and actually have those real deep conversations.
Usually if we decide you're a good fit, then we will actually go through onboarding, send an actual engagement letter. my operations team is virtual in Michigan. I have another staff in Texas as well. So usually what we like to do is we like to pre schedule your meetings so that we know what our expectations are as well. a lot of it we're looking at the tax assessment.
Right. So what a lot of people forget is a tax time already happened right now. So what we're looking what we're essentially looking at is what can we do to get around your tax burden for twenty twenty six filing twenty twenty seven. We like to then after the discovery bring you in, we like to see, hey, are the books up to date? If the books are not up to date,
We'd like to make sure that they are as accurate as possible with it. And what we can do is that is we can give you a reasonable tax projection. Because right now it's October twenty eighth, twenty twenty six. We wanna make sure, A, are you gonna have the same surprise next year? Because if we can get ahead of that surprise, it's a lot easier, especially in the tax strategy world. Right? It's a lot of the
businesses we look at are they on accrual or cash basis. So we look at that. Most construction guys are on cash ba or on accrual basis, which means they have payables and receivables. We would then look at to see with the accounts receivable, are they actually correct? We look at did they come from let's say house call pro or service tight to make sure that they actually speak to QuickBooks correctly. we look at that. We then like to set up monthly meetings to actually be that
Strategic advisor to s allow the business owner to a work on the business versus in the business because a lot of business owners they just get lost in the same day to day that we ha it going on. I'm guilty of that as well because I just get deep into it. But in reality, if we don't take that time to actually realize what's going on in your business and have those real conversations, that's where most business owners fail.
We like to then make sure toward the end of the year we do an assessment, do we have kids on your payroll? Because if the kids are on the payroll, we're able to look at instead of family vacations, we look at work retreats as well. So we look at the ending tax strategies to be able to make it a lot easier. with the tax strategies, we also look at
Is the W two optimized? You have your distributions optimized as well. I usually like to see it at about sixty-six percent salary, thirty-three percent distributions. I found that a good type of I found that as a good metric because it we then check with the business owners. Are they actually taking salary? I've seen business owners actually not
take any salary and then I'm like, okay, well the IRS is gonna come then. It's gonna come sometime and it's not gonna be as pretty. usually with that also we like to have the businesses and the person business and personal sign a two eight four eight power of attorney which that gives me the ability to find any and all skeletons that may be in the closet.
Because what I found is a lot of business owners they definitely have a lot of skeletons in the closet. That's probably one of the biggest things I will ask them, right? Is what what are you hiding from? Which is perfectly fine. It just comes with the territory being a business owner, is we just get out there and we literally see what's going on. The other thing I like to ask him is, are you
selling within the next couple of years because if they're selling within the next couple of years we like to make sure that the books are not a mess because sometimes I have
Jeff Williams (13:05)
Right.
Robert Wood (13:05)
a lot of businesses that'll just give me a pile of crap as far as just receipts that that's it. But if but if you don't have the general ledger and the balance sheet and the profit loss properly done, that's where a lot of the problems truly can be with that.
And then with that we like to a we ask are the you doing W twos who's doing your payroll? We like to refer out payroll. We have some very good partners that we deal with as well. Probably the biggest one we deal with is ADP and they've done a great work for us. we basically look at everything from
point A to point Z, especially when you look at the process in like the last ten days of the year is when most of the accounts make their money. And what I say that is because if we see that your accounts receivable is messed up and your payables are messed up, we need to actually hone in on that to make sure you pay as little tax as possible. Because if the accounts receivable is not
in line or has stuff that isn't actually recognized, we need to move that away because we don't want to overcharge someone as well. So we're looking at it from a holistic type of approach.
with there. let's
Jeff Williams (14:13)
Okay.
Robert Wood (14:14)
yeah, it's definitely pretty extensive. I like to be as accessible as possible because I truly believe that when you deal with an accountant you want to have those true deep conversations. I've had individuals tell me that they've been on, let's say Only Fans. I've had be that I've been like had their mugshots on as well. So
You wanna basically whoever you work with was an accountant, you wanna make sure that you are able to s say those deepest, darkest secrets because when I look
Jeff Williams (14:43)
Yeah.
Robert Wood (14:44)
at it in my whole process is I look at it where the numbers never lie, but people do. And when you look at the bank account, we wanna make sure is it going up or going down. If it's going down, there's definitely something wrong there. So
Jeff Williams (14:53)
Yeah.
Robert Wood (14:58)
yeah, it makes it it's
I take it very seriously. I do I've flown out to the west coast for meetings. I've flown to Oregon, LA just to talk to people because that's what I truly also believe in my approach. Is it's a truly a old school type approach. Yes, I will gladly get on a Zoom call, but in reality if you're like, Hey, I gotta tell you something in person, I'm on the next flight out. Because that's that's just what people need.
Jeff Williams (15:20)
Right. Well, you know, sometimes you know, sometimes it's good to see a
see a person in a building, you know, and say, Hey, they really do exist.
Robert Wood (15:27)
Yeah.
Jeff Williams (15:27)
They're not just, you know, in a vacuum. Yeah.
Robert Wood (15:30)
Correct. Yeah, but it's an interesting one. I keep going in the accounting world because I was always inherently curious about businesses and a curious on how they run. I usually like to anytime I sit with a business owner, I like to explain to them things in a kindergarten level. Because if you if I and when I teach and consult
If you're able to understand it, then I've actually done my job. But in r but if you look at the financials you're like, dude, I don't know what you said. That's where the problems truly are.
Jeff Williams (16:02)
Yep. Wow. Well I got a few more questions or at least a couple more questions and then we can kind of begin
Robert Wood (16:07)
Mm-hmm.
Jeff Williams (16:08)
to wrap up and and let you have your day. But again, appreciate it. record keeping habits, help prevent some surprises. What kind of habits do one, I know you have but how do you instill those into an owner? just a real quick, you know, two minute answer.
Robert Wood (16:23)
So sometimes in the record keeping habits we wanna make sure that you have the receipts, right? Receipts are gonna be the biggest thing because in the in the event of an audit, the receipts are what actually give the business owner the justification for the transaction. when I look at the record keeping, you wanna make sure does your bank reconciliation agree to the bank balance at the end of the month? You wanna look at your credit cards that they agree.
as well. we're looking at also
The payroll compliance. If you're with a payroll company, we always want to make sure you have enough cash available to be able to pay the cash requirements. Some business owners will actually do their own payroll. And that's where it gets a little spicy because then we find out that they are over they have a credit in one period, but they owe it another. So we're trying to essentially make sure that they actually make sense.
So we're looking at it in the holistic approach of it you know, is the RT six paid, is the payroll paid? Does everything in advertising actually constitute a advertising? Some business owners when they come to me they are very messy. Usually what I say is you can a good habit, simple practice to start, keep a manila envelope, put all your receipts in there for the month.
And just label it. That's usually what I would say is the ground roots type of practice to actually be done.
Jeff Williams (17:46)
So let me shift you to technology and AI. I'm sure it's like anything else in your world, like everywhere else, it's playing a big part. But do you incorporate technology with the owners like on their cell phones to scan receipts and or use AI to do some of the management or and again just a brief answer on that, but I'd like for people to know that where you're at with that.
Robert Wood (18:08)
So I'm starting to really figure out where the AI part of it is because the IRS has given us direct guidance with AI. what we tend to do is we first of all we have enterprise software so that we make sure that our models are not trained on anything as well, because it's especially a lot of the personal ones out there.
with the IRS dictation has said that you can't put sensitive data in, which we choose not to, even though it would be a lot more efficient, right? We also have to adhere to what the Internal Revenue Service says. usually we look at like HubSpot, we also look at even just like scanning receipts in as well. We've also set up
Gmail accounts to be able to see the receipts so that we have it. Usually we just like to have it in a good centralized location.
Jeff Williams (18:57)
good. So in regards to buying equipment, a customer, you know, or client wanting to buy a capital equipment. And so I know there's a I don't you know, every state may be different, every federal rule may be, you know, be changing, but what is the cap on a capital expenditure and in regards to depreciation and what is your kind of recommended guideline to that?
Robert Wood (19:18)
So capital expenditure, you're looking at something that you would need, right? Something that you would use day to day in the pursuit of income. The beautiful thing about one big beautiful bill is it's now a hundred percent bonus depreciation on capital expenditures. It was it which is the same as the COVID times. We all remember that. That was the most insane time of the world where there were like
They were just giving money out left and right and we're like, Holly Louiah, it's like printing money. In reality, it messed up a lot of accounts with
Jeff Williams (19:38)
Yeah, I did.
Robert Wood (19:46)
it. Yeah. So what it is, you want to look at a full 100% depreciation because there's section one hundred-nine which says that you can depreciate up to one point two, I think it's one point two seven nine million each year throughout all of the entities. So then we also look at what the business owner will
have through let's say they have five companies, we to see which one's the most advantaged as well. We always like to see with the capital expenditures, you want to make sure it's placed in service by the end of the year. If it's not placed in service by the end of the year, which means it's fully functioning, installed, that's where the problems are.
Jeff Williams (20:18)
great. Thank you so much. So building your own business, what has that taught you about helping other owners? In other words, you're an owner, you're a business owner, and what has that kind of taught you about how to help them?
Robert Wood (20:29)
I what I've learned is not everyone's perfect and we're all literally riding by the seat of her past. Which and and and
Jeff Williams (20:35)
Okay.
Robert Wood (20:38)
so it's it's also taught taught me that you need to surround yourself with the right people. To be able to give
Jeff Williams (20:45)
Yeah.
Robert Wood (20:45)
me those ideas.
Jeff Williams (20:46)
Yeah, Robin my world, if I thank God I've got stirrups to stay in the saddle or I'd be falling off all the time in a business. So I appreciate that.
Robert Wood (20:54)
Yeah.
Jeff Williams (20:54)
so last kind of question, what would you like to leave with the listeners today that brings value, but also just how your integrity of your business can they can trust to do business with you. So again, what
would you like
to leave with them?
Robert Wood (21:07)
the biggest thing is transparency. I like to essentially look at the whole business. A lot of I figure with it is we like to make sure that we know what your tax projection is right now versus a surprise at the end of the year. Especially in tax time. I try to make myself as accessible as possible.
And with it is even those deepest, darkest questions is what we need to unravel. Because what I see is whoever you choose as an accountant, you want to have those real conversations with.
Yeah.
Jeff Williams (21:42)
So out of that, and everything we've you know you've kind of shared and talked about, is there anything else that you can think of that's really key to add to you know, part of the show here and that you can kinda leave hanging out there and also to with that, leave your contact information again one more time so we've got it in there again.
Robert Wood (21:59)
Probably the biggest thing is r if you don't know where your profit is by this time of the year, you're screwed. Straight up. I'll put it very directly. my name's Rob Wooden Sons Accounting and Tax, 727-602-6910. Wooden Sons Accounting and Tax dot com.
You can reach us on Facebook, Instagram, LinkedIn. yeah, we're just thankful for the opportunity because I came from a very blue-collar route. I'm one of the few accountants that are actually covered in tattoos and are a lot more approachable than most. If you want an accountant that you can actually have a real conversation with instead of being like, Well, this guy is not fun to deal with, that's where I come in.
Jeff Williams (22:40)
Well, it it's it's really a pleasure to have you on the show and I know that from my own world and my own experience, having someone that can just really dig into that this area of finance for contractors, whether they're startups or whether they're well established or small to medium businesses and even Fortune five hundred companies. again, Rob is nationwide folks.
reach out to him today. don't wait till tomorrow because tomorrow can get you in trouble. And just reach out to him, get in touch with him and follow him. And I'm sure that he can save you money and make you money actually by utilizing his wisdom, skill and services. So again, Rob, thank you so much for being on the Cowboy construction cowboy show today and
So and everyone riding with us today, thank you for listening and take care of your people. Sit tall in the saddle and keep riding straight ahead and never look back.
Until next time, keep your boots on the ground, smile, tip your hat to the next person you meet.
And when we meet again, happy trails.
Bye for now!