Advertise on podcast: Profitable Painter Podcast

Send us Fan Mail 3 Advanced Tax Strategies for Painting Business Owners with more than $400K in taxable income. Work with us https://profitablepaintercpa.com/vsl Free Book - Profitable Painter https://profitablepaintercpa.com/book In this episode, I walk through the advanced strategies using real stories from painting business owners we've worked with: what comes after maxing out your 401(k), how real estate losses can legitimately offset painting business income, and how your business can pay you to use your home for meetings without that money becoming taxable. These strategies aren't for everyone, and every one of them has rules that decide whether it works or backfires.   I'm Daniel Honan, CPA and former painting business owner. Since 2016, my firm, Profitable Painter CPA, has helped 529+ painting contractors with bookkeeping, taxes, payroll, automations, and financial strategy. WHAT YOU'LL LEARN - The retirement plan that can shelter far more than a 401(k), and the kind of business it actually fits - Why most rental losses can't touch your painting business income, and the exception that can - The two tests a short-term rental has to pass before its losses become usable - The one thing the owner's spouse did that made the real estate strategy hold up - How to turn the family and friends who already advise you into a legitimate business deduction - How your business can pay you rent for your home, and why the rate and the records decide whether it's tax-free - What "documented" actually means for each of these strategies, and what happens when it isn't 🎯 Past $3M in revenue and want tax planning built around your business, your team, and your long-term goals? Book a free call: https://profitablepaintercpa.com/vsl WHO I AM My name is Daniel Honan. I'm a CPA, a former painting business owner, and the founder of Profitable Painter CPA - an accounting firm that works exclusively with painting contractors. I make these podcasts to help painters keep more of what they earn and build more profitable businesses. Subscribe for weekly podcasts on taxes, bookkeeping, accounting, and financial strategy for painting businesses. Keywords: painting business, painting contractors, tax strategies for business owners, advanced tax planning, cash balance plan, defined benefit plan small business, retirement plan for business owners, short term rental tax loophole, cost segregation study, real estate losses offset business income, passive activity rules, material participation, Augusta rule, board of advisors tax deduction, home rental to business, high income tax strategies, painting business taxes, Profitable Painter This episode was originally recorded as a video for YouTube. If you hear me say things like “in this video” or reference visuals, don’t worry — the content still works perfectly in audio form. And if you ever want to watch the video version, you can find it on the  Profitable Painter YouTube channel. https://www.youtube.com/@BookkeepingForPainters

Send us Fan Mail What Painting Businesses actually earn at each stage of growth?  Work with us https://profitablepaintercpa.com/vsl Free Book - Profitable Painter https://profitablepaintercpa.com/book In this episode, I break down what painting companies really make at four stages of growth: startup (under $350K), build ($350K–$1M), the swamp ($1M–$3M), and sellable asset ($3M+). I pulled the year-to-date numbers for 230 real painting businesses and measured three things — gross profit, discretionary earnings, and net profit — at every stage.  The shape of the data surprised me: every major profit number falls as companies grow, bottoms out in one specific stage, and then recovers.  By the end of this episode, you'll be able to compare your company to 230 real painting businesses and see exactly where you stand, and why your position inside your stage may matter more than the stage itself. I'm Daniel Honan, CPA and former painting business owner. Since 2016, my firm, Profitable Painter CPA, has helped 529+ painting contractors with bookkeeping, taxes, payroll, automations, and financial strategy. WHAT YOU'LL LEARN What a painting business at your revenue level should actually be earning - benchmarked against 230 real companiesWhich stage of growth is the least profitable in the data, and why it isn't permanentWhy gross profit falls as painting companies grow - and what that decline costs at $2M in revenueThe reason growing revenue doesn't always make the owner feel richerWhat share of painting businesses were losing money this year, stage by stageWhy two companies at the same revenue can differ by more than $100,000 in gross profitThe first thing to fix if you're stuck between $1M and $3MHow to tell whether your gross profit can carry the team you've built🎯 Want to see exactly where your painting business sits against these benchmarks, and what it would take to move up? That's what we do. Book a free call: https://profitablepaintercpa.com/vsl WHO I AM My name is Daniel Honan. I'm a CPA, a former painting business owner, and the founder of Profitable Painter CPA - an accounting firm that works exclusively with painting contractors. I make these podcasts to help painters keep more of what they earn and build more profitable businesses. Subscribe for weekly podcasts on taxes, bookkeeping, accounting, and financial strategy for painting businesses. Keywords: painting business, painting contractors, painting business profit margin, painting business benchmarks, how much do painting businesses make, painting company profit, gross profit margin painting, net profit painting business, discretionary earnings, owner earnings painting business, painting industry data, painting business stages, the swamp painting business, scale a painting business, painting business overhead, job costing painting, small business profitability benchmarks, Profitable Painter This episode was originally recorded as a video for YouTube. If you hear me say things like “in this video” or reference visuals, don’t worry — the content still works perfectly in audio form. And if you ever want to watch the video version, you can find it on the  Profitable Painter YouTube channel. https://www.youtube.com/@BookkeepingForPainters

Send us Fan Mail What is a Painting Business Actually Worth? Work with us https://profitablepaintercpa.com/vsl Free Book - Profitable Painter https://profitablepaintercpa.com/book In this episode, I break down real listings, completed sales, and SBA-funded acquisitions by revenue band, and why two companies with the same revenue can sell for wildly different prices. I also analyzed real painting business asking prices, completed transactions, and SBA-funded ownership changes to answer the questions every owner eventually asks:  What do painting businesses actually go for, what multiple are buyers paying, and what makes one company worth significantly more than another?  I'm Daniel Honan, CPA and former painting business owner. Since 2016, my firm, Profitable Painter CPA, has helped 529+ painting contractors with bookkeeping, taxes, payroll, automations, and financial strategy. WHAT YOU'LL LEARN - What painting businesses in each revenue band actually sold for, not just what sellers asked - How seller discretionary earnings (SDE) is calculated, and why it (not revenue) sets your price - Why a business with the same revenue as yours could sell for double the price - Which revenue band saw the strongest sold multiple in the data (it's not the biggest one) - The margin trend that quietly works against larger businesses at sale time - Whether buyers pay a premium for commercial and industrial companies and how much - Franchise vs. independent: which one buyers are actually paying more for - How much SBA acquisition capital has entered the painting industry since 2019, and what that means for your exit 🎯 Thinking about selling your painting business in the next few years or want it worth more whether you sell or not? Book a free call: https://profitablepaintercpa.com/vsl WHO I AM My name is Daniel Honan. I'm a CPA, a former painting business owner, and the founder of Profitable Painter CPA - an accounting firm that works exclusively with painting contractors. I make these podcasts to help painters keep more of what they earn and build more profitable businesses. Subscribe for weekly podcasts on taxes, bookkeeping, accounting, and financial strategy for painting businesses. Keywords: painting business, painting contractors, painting business valuation, how much is my painting business worth, sell a painting business, buy a painting business, business valuation multiple, seller discretionary earnings, SDE multiple, what is my business worth, small business sale price, SBA loan business acquisition, franchise vs independent, commercial painting business value, painting business for sale, exit planning small business, business broker painting, Profitable Painter This episode was originally recorded as a video for YouTube. If you hear me say things like “in this video” or reference visuals, don’t worry — the content still works perfectly in audio form. And if you ever want to watch the video version, you can find it on the  Profitable Painter YouTube channel. https://www.youtube.com/@BookkeepingForPainters

Send us Fan Mail I tear down the real books of a $4M painting business with a full team, an integrator, and a $10M goal, and finds the two things standing between this owner and a truly valuable asset. Work with us https://profitablepaintercpa.com/vsl Free Book - Profitable Painter https://profitablepaintercpa.com/book In this episode, I open the real financial statements of a sellable-asset-stage painting business (owner anonymized — we'll call him Rich). Rich runs a painting business in Florida doing about $4M a year with a full team, and he wants to reach $10M in the next 12 months.  On paper, this is one of the strongest businesses in the teardown series. But a big team and high sales don't automatically create a valuable business.  I'll walk through his cash position, his gross profit and customer acquisition math, what a $15M painting business does differently, and the three tax and wealth strategies I recommended so his growth doesn't get eaten by the IRS.  Compare these numbers to your own business as we go. I'm Daniel Honan, CPA and former painting business owner. Since 2016, my firm, Profitable Painter CPA, has helped 529+ painting contractors with bookkeeping, taxes, payroll, automations, and financial strategy. WHAT YOU'LL LEARN - Why having too much cash in the business can be a problem at this stage - The gross profit target a painting business actually needs before scaling past $4M — and why 55% may not be enough - How the top residential repaint businesses maintain 60%+ gross profit without losing close rate - The team cost benchmark most $4M+ businesses quietly exceed - How to calculate what an owner should earn based on the roles they still hold - The real estate strategy that turns rental "paper losses" into painting business tax savings — and the two ways to qualify - A retirement plan that can shelter six figures in a single year - How to legitimately pay your kids through the business — and set them up with tax-free growth 🎯 Running a painting business past $3M and want your business plan, tax plan, and wealth plan working together? That's what we do. Book a free call: https://profitablepaintercpa.com/vsl WHO I AM My name is Daniel Honan. I'm a CPA, a former painting business owner, and the founder of Profitable Painter CPA - an accounting firm that works exclusively with painting contractors. I make these podcasts to help painters keep more of what they earn and build more profitable businesses. Subscribe for weekly podcasts on taxes, bookkeeping, accounting, and financial strategy for painting businesses. Keywords: painting business, painting contractors, financial teardown, real business financials, sellable business, scale a painting business, gross profit margin painting, GP to CAC ratio, customer acquisition cost, risk reversal guarantee, tax strategies for business owners, short term rental tax loophole, cost segregation, cash balance plan, defined benefit plan small business, hiring your kids tax strategy, owner compensation small business, Profitable Painter This episode was originally recorded as a video for YouTube. If you hear me say things like “in this video” or reference visuals, don’t worry — the content still works perfectly in audio form. And if you ever want to watch the video version, you can find it on the  Profitable Painter YouTube channel. https://www.youtube.com/@BookkeepingForPainters

Send us Fan Mail I tear down the real books of a $1.7M painting business that doubled its revenue, while a 10% discount quietly dragged his gross profit. Work with us https://profitablepaintercpa.com/vsl Free Book - Profitable Painter https://profitablepaintercpa.com/book In this episode, I open the real financial statements of a swamp-stage painting business (owner anonymized - we'll call him Tony). Tony runs a painting business in Illinois doing about $1.7M a year, and he's aiming for $2.5M in the next 12 months.  The impressive part: he's nearly doubled revenue year over year, takes a 50% deposit, and his cash flow is genuinely strong.  The problem: a 10% sign-on-the-spot discount has been quietly eating his margin.  I'll walk through his cash flow statement, the discount math, the exact salesperson commission plan that protects gross profit, and what has to happen in the next 3–6 months before he scales.  Compare these numbers to your own business as we go. I'm Daniel Honan, CPA and former painting business owner. Since 2016, my firm, Profitable Painter CPA, has helped 529+ painting contractors with bookkeeping, taxes, payroll, automations, and financial strategy. WHAT YOU'LL LEARN - How a small "sign today" discount can quietly compound into a double-digit gross profit gap - Why doubling your revenue can hide a ratio that makes growth unaffordable - The deposit and unearned revenue setup keeping this business cash-strong despite thin margins - A salesperson commission structure that rewards profitable jobs, not just closed ones - Why straight commission quietly trains salespeople to discount, and what to do instead - A way to raise prices that most customers never notice - The two balance sheet numbers that reveal trouble even when the bank account looks fine - The test I use to decide if a business is ready to scale and how long it takes to pass 🎯 Want this kind of teardown on YOUR numbers? That's what we do - we are a Painter‑only CPA firm. Book a free call: https://profitablepaintercpa.com/vsl WHO I AM My name is Daniel Honan. I'm a CPA, a former painting business owner, and the founder of Profitable Painter CPA - an accounting firm that works exclusively with painting contractors. I make these podcasts to help painters keep more of what they earn and build more profitable businesses. Subscribe for weekly podcasts on taxes, bookkeeping, accounting, and financial strategy for painting businesses. Keywords: painting business, painting contractors, financial teardown, real business financials, painting business discount, sign today discount, gross profit margin painting, markup vs margin, GP to CAC ratio, customer acquisition cost, salesperson commission structure, sales commission tied to gross profit, salesperson compensation plan, hiring a salesperson, unearned revenue deposits, current ratio small business, negative equity small business, Profitable Painter This episode was originally recorded as a video for YouTube. If you hear me say things like “in this video” or reference visuals, don’t worry — the content still works perfectly in audio form. And if you ever want to watch the video version, you can find it on the  Profitable Painter YouTube channel. https://www.youtube.com/@BookkeepingForPainters

Send us Fan Mail I tear down the real books of a $1.3M painting business that turned off its Meta ads, shrank 14%, and lost $50K in cash - and the recovery plan to reach $2M. Work with us https://profitablepaintercpa.com/vsl Free Book - Profitable Painter https://profitablepaintercpa.com/book In this episode, I open the real financial statements of a swamp-stage painting business (owner anonymized - we'll call him Ethan). Ethan runs a painting business in South Carolina doing about $1.3M a year.  8 months ago he stopped running Meta ads - since then, leads slumped, revenue shrank 14%, and the business lost about $50,000 in cash.  Now he's hired a marketing agency and wants to hit $2 million. But more leads won't fix weak job profits or oversized overhead.  I walked through his statement of cash flows to find where the $50K actually went, the deposit policy mistake, the overhead team costing nearly double the benchmark, and the exact plan to rebuild profitability. Compare these numbers to your own business as we go. I'm Daniel Honan, CPA and former painting business owner. Since 2016, my firm, Profitable Painter CPA, has helped 529+ painting contractors with bookkeeping, taxes, payroll, automations, and financial strategy. WHAT YOU'LL LEARN - What happens to a $1.3M painting business 8 months after turning off outbound ads - How to read a statement of cash flows to find where cash is actually leaking - Why owner distributions during a downturn quietly drain the business - The zero-deposit mistake — and why deposits matter most heading into winter - Inbound vs outbound marketing costs, and why outbound demands a higher gross profit target - The 7% benchmark for admin + production manager overhead (and what 12% does to net profit) - How to renegotiate a production manager to ⅔ base + ⅓ bonus tied to volume, reviews, and gross profit - The roles-based method for owner pay: why this owner should earn 26% of revenue, not 1% 🎯 Want this kind of teardown on YOUR numbers? That's what we do - we are a Painter‑only CPA firm. Book a free call: https://profitablepaintercpa.com/vsl WHO I AM My name is Daniel Honan. I'm a CPA, a former painting business owner, and the founder of Profitable Painter CPA - an accounting firm that works exclusively with painting contractors. I make these podcasts to help painters keep more of what they earn and build more profitable businesses. Subscribe for weekly podcasts on taxes, bookkeeping, accounting, and financial strategy for painting businesses. Keywords: painting business, painting contractors, financial teardown, real business financials, statement of cash flows, cash flow problems small business, meta ads for contractors, stopping ads consequences, deposit policy contractors, GP to CAC ratio, customer acquisition cost, gross profit margin painting, overhead costs benchmark, production manager compensation, admin costs small business, owner distributions, owner pay small business, Profitable Painter This episode was originally recorded as a video for YouTube. If you hear me say things like “in this video” or reference visuals, don’t worry — the content still works perfectly in audio form. And if you ever want to watch the video version, you can find it on the  Profitable Painter YouTube channel. https://www.youtube.com/@BookkeepingForPainters

Send us Fan Mail I tear down the real books of an $850K painting business that wants to hit $2M in 12 months: the GP-to-CAC ratio blocking it, the $3,800/month agency math, and the hiring plan that gets him there. Work with us https://profitablepaintercpa.com/vsl Free Book - Profitable Painter https://profitablepaintercpa.com/book In this episode, I open the real financial statements of a build-stage painting business (owner anonymized - we'll call him Bill). Bill runs a painting business in Oklahoma doing about $850K a year, pays two marketing agencies $3,800/month, and wants to grow to $2 million in the next 12 months. His cash position is excellent, but one ratio in his numbers says he can't afford to buy that growth yet. I walked through his P&L, his CRM funnel math, the exact production manager comp plan I'd use, and what has to change before he hits the gas. Compare these numbers to your own business as we go. I'm Daniel Honan, CPA and former painting business owner. Since 2016, my firm, Profitable Painter CPA, has helped 529+ painting contractors with bookkeeping, taxes, payroll, automations, and financial strategy. WHAT YOU'LL LEARN - How to tell which constraint is limiting a painting business — cash, team, or customers - The GP-to-CAC ratio: why 3-to-1 is the minimum - When a $3,800/month marketing agency is too expensive — and why the fix is growing, not cutting - Real funnel math: cost per lead → set rate → close rate → ad spend per closed job - The set rate benchmark for Meta ads and what a low one costs you - A complete production manager compensation plan: base, bonus, and the 3 metrics to tie it to - How much a painting business owner should pay themselves based on the hats they wear (the 15% + roles method) - The risk-reversal guarantee that lets you raise prices without losing close rate 🎯 Want this kind of teardown on YOUR numbers? That's what we do - we are a Painter‑only CPA firm. Book a free call: https://profitablepaintercpa.com/vsl WHO I AM My name is Daniel Honan. I'm a CPA, a former painting business owner, and the founder of Profitable Painter CPA - an accounting firm that works exclusively with painting contractors. I make these podcasts to help painters keep more of what they earn and build more profitable businesses. Subscribe for weekly podcasts on taxes, bookkeeping, accounting, and financial strategy for painting businesses. Keywords: painting business, painting contractors, financial teardown, real business financials, grow a painting business, GP to CAC ratio, customer acquisition cost, marketing agency cost small business, meta ads for contractors, cost per lead painting, set rate close rate, production manager compensation, production manager bonus plan, hiring for painting business, gross profit margin painting, owner compensation small business, risk reversal guarantee, Profitable Painter This episode was originally recorded as a video for YouTube. If you hear me say things like “in this video” or reference visuals, don’t worry — the content still works perfectly in audio form. And if you ever want to watch the video version, you can find it on the  Profitable Painter YouTube channel. https://www.youtube.com/@BookkeepingForPainters

Send us Fan Mail I tear down the real financial statements of a $350K painting business — the cash problem, the markup mistake killing its gross profit, and whether it can double to $600K in 12 months. Work with us https://profitablepaintercpa.com/vsl Free Book - Profitable Painter https://profitablepaintercpa.com/book In this episode, I open the real books of a startup painting business (owner anonymized - we'll call him "Tom"). Tom runs a subcontractor-based residential repaint business in North Carolina, targets a 50% gross profit margin, and wants to grow from $350K to $600K in the next 12 months.  But his P&L says he's hitting 35.6% - and his bank account says growth might break him.  I'll tell you exactly where his money went, the one markup mistake costing him margin on every job, and what he needs to fix before he scales.  Compare these numbers to your own business as we go. I'm Daniel Honan, CPA and former painting business owner. Since 2016, my firm, Profitable Painter CPA, has helped 529+ painting contractors with bookkeeping, taxes, payroll, automations, and financial strategy. WHAT YOU'LL LEARN How a CPA reads a painting business's financials in order: constraint → cash → gross profit → CAC → liquidityThe 2-months-of-overhead cash rule, and why $7K in the bank blocks growthThe markup mistake hiding in plain sight: marking up labor 100% but materials only 25%How a 10% "sign today" discount quietly wrecks gross profitThe 4.5-to-1 GP-to-CAC benchmark for repeat-and-referral painting businessesWhy electing S Corp before ~$70K of stable net profit can cost more than it savesThe get-paid-faster playbook: bigger deposits, progress payments, vendor credit, paying subs after the customer pays🎯 Want this kind of teardown on YOUR numbers? That's what we do - we are a Painter‑only CPA firm. Book a free call: https://profitablepaintercpa.com/vsl WHO I AM My name is Daniel Honan. I'm a CPA, a former painting business owner, and the founder of Profitable Painter CPA - an accounting firm that works exclusively with painting contractors. I make these podcasts to help painters keep more of what they earn and build more profitable businesses. Subscribe for weekly podcasts on taxes, bookkeeping, and financial strategy for painting businesses. Keywords: painting business, painting contractors, financial teardown, real business financials, painting business profit and loss, gross profit margin painting, markup vs margin, how to price painting jobs, materials markup, painting business cash flow, business deposit policy, GP to CAC ratio, customer acquisition cost, S corp election timing, small business balance sheet, liquidity ratio small business, painting business review, Profitable Painter This episode was originally recorded as a video for YouTube. If you hear me say things like “in this video” or reference visuals, don’t worry — the content still works perfectly in audio form. And if you ever want to watch the video version, you can find it on the  Profitable Painter YouTube channel. https://www.youtube.com/@BookkeepingForPainters

Send us Fan Mail 4 Financial Moves to turn a $3M+ painting business into a SELLABLE ASSET. Work with us https://profitablepaintercpa.com/vsl Free Book - Profitable Painter https://profitablepaintercpa.com/book You can have a $5 million painting company worth millions of dollars, or a $5 million painting company that completely depends on you, is nearly impossible to sell, and loses its value the moment you leave. In this episode, I break down the 4 financial moves I'd focus on once a painting business passes $3 million in revenue, so it becomes a real asset: profitable, transferable, less dependent on you, and more valuable — whether you ever plan to sell or not. I'm Daniel Honan, CPA and former painting business owner. Since 2016, my firm, Profitable Painter CPA, has helped 529+ painting contractors with bookkeeping, taxes, payroll, automations, and financial strategy. Move 1: Eliminate key man risk (the 90-day test) Move 2: Know what your business is worth (earnings × multiple) Move 3: Get your estate and succession plan in order Move 4: Start moving wealth outside the painting company WHAT YOU'LL LEARN - The 90-day test that reveals whether you own a business or a job - How buyers actually value a painting company and what EBITDA has to do with it - Why two companies with identical profit can sell for very different amounts — the risks that shrink your multiple - What adds value (management team, clean books, multiple lead channels) and what subtracts it (owner dependence, customer concentration) - The estate and succession questions every owner of a multi-million dollar business needs answered - Capital allocation: when to stop reinvesting every dollar in the business, and the "good investment first, tax optimization second" rule 🎯 Building toward a sellable painting business and want a financial team that thinks about valuation, tax planning, and owner wealth - not just books? That's what we do. Book a free call: https://profitablepaintercpa.com/vsl WHO I AM My name is Daniel Honan. I'm a CPA, a former painting business owner, and the founder of Profitable Painter CPA - an accounting firm that works exclusively with painting contractors. I make these podcasts to help painters keep more of what they earn and build more profitable businesses. Subscribe for weekly podcasts on taxes, bookkeeping, and financial strategy for painting businesses. Keywords: painting business, painting contractors, sell a painting business, painting business valuation, how much is my business worth, business valuation multiple, EBITDA, small business, key man risk, owner dependence, exit planning small business, succession planning, estate planning for business owners, sellable business, build a sellable asset, business wealth building, capital allocation small business, painting business worth, Profitable Painter This episode was originally recorded as a video for YouTube. If you hear me say things like “in this video” or reference visuals, don’t worry — the content still works perfectly in audio form. And if you ever want to watch the video version, you can find it on the  Profitable Painter YouTube channel. https://www.youtube.com/@BookkeepingForPainters

Send us Fan Mail How I'd Get a Painting Business From $1M to $3M Work with us https://profitablepaintercpa.com/vsl Free Book - Profitable Painter https://profitablepaintercpa.com/book If your painting business is doing between $1 million and $3 million a year, you're probably in what Alex Hormozi calls "The Swamp" - revenue is growing, you have more employees, more customers, and more problems, BUT your bank account and personal income aren't growing nearly as fast. In this episode, I break down the 4 financial moves I'd focus on to get a painting business through it. I'm Daniel Honan, CPA and former painting business owner. Since 2016, my firm, Profitable Painter CPA, has helped 529+ painting contractors with bookkeeping, taxes, payroll, automations, and financial strategy. Move 1: Hire your first salesperson (WITHOUT destroying your margin) Move 2: 50% gross profit is the floor, NOT the finish line Move 3: Build a 5-to-1 GP-to-CAC growth engine Move 4: STOP doing tax preparation, START doing tax planning WHAT YOU'LL LEARN - When the owner should finally get out of sales - and the commission structure that rewards gross profit, not just revenue - The 6–8% rule for total salesperson compensation - Why a $1.2M salesperson at 40% GP can be worth less than an $800K salesperson at 60% GP - The four levers that push gross profit from 50% toward 60%+ - How to measure GP-to-CAC by marketing channel so you scale winners and fix losers - The difference between tax preparation and tax planning - and why strategies like the Augusta rule fail without documentation 🎯  In the swamp and want quarterly tax planning plus monthly financial reviews on your actual numbers? That's our Profitable Painter Program. Book a free call: https://profitablepaintercpa.com/vsl WHO I AM My name is Daniel Honan. I'm a CPA, a former painting business owner, and the founder of Profitable Painter CPA - an accounting firm that works exclusively with painting contractors. I make these podcasts to help painters keep more of what they earn and build more profitable businesses. Subscribe for weekly podcasts on taxes, bookkeeping, and financial strategy for painting businesses. Keywords: painting business, painting contractors, grow a painting business, painting business profit, gross profit margin, how to hire a salesperson, salesperson commission structure, sales compensation small business, GP to CAC ratio, customer acquisition cost, tax planning vs tax preparation, tax planning for business owners, tax strategies for contractors, Augusta rule, painting business benchmarks, scale a painting business, the swamp Alex Hormozi, Profitable Painter This episode was originally recorded as a video for YouTube. If you hear me say things like “in this video” or reference visuals, don’t worry — the content still works perfectly in audio form. And if you ever want to watch the video version, you can find it on the  Profitable Painter YouTube channel. https://www.youtube.com/@BookkeepingForPainters

Send us Fan Mail 6 financial moves to ACTUALLY Reach $1M in Your Painting Business. Work with us https://profitablepaintercpa.com/vsl Free Book - Profitable Painter https://profitablepaintercpa.com/book If your painting business is doing between $350,000 and $1 million a year, your biggest financial challenge isn't painting profitable jobs anymore - it's growing without running out of cash, destroying your margins, or doing everything yourself.  I'm Daniel Honan, CPA and former painting business owner. Since 2016, my firm Profitable Painter CPA has helped 529+ painting contractors with bookkeeping, taxes, payroll, automations, and financial strategy. In this episode, I break down the 6 moves I'd focus on to reach your first $1M. Move 1: Fix cash flow before you scale Move 2: Hire your first admin (the 2–4% rule) Move 3: Hire your first project manager (comp benchmarks & incentives) Move 4: Build a real marketing engine (agency retainers & ad spend) Move 5: Track GP-to-CAC: the most important number at this stage Move 6: Upgrade from bookkeeping to financial advisory (FP&A) WHAT YOU'LL LEARN - Why growing revenue can drain your bank account - and the payment policies that fix it - When you can afford your first admin (and the 2–4% rule) - How to structure project manager pay: the range and what to tie bonuses to - The admin + PM ≈ 7% of revenue rule for spotting overhead bloat - How much to spend on marketing agencies and ads — and the mistake that wastes both - GP-to-CAC explained: the ratio that combines sales, marketing, pricing, and production in one number, and the targets I use 🎯 Between $350K and $1M and want monthly FP&A sessions on your numbers? That's what the Profitable Painter Program does. Book a free call: https://profitablepaintercpa.com/vsl WHO I AM My name is Daniel Honan. I'm a CPA, a former painting business owner, and the founder of Profitable Painter CPA - an accounting firm that works exclusively with painting contractors. I make these podcasts to help painters keep more of what they earn and build more profitable businesses. Subscribe for weekly podcasts on taxes, bookkeeping, and financial strategy for painting businesses. Keywords: painting business, painting contractors, grow a painting business, scale a painting business, painting business cash flow, hiring an admin small business, hiring a project manager, project manager compensation, marketing for painting contractors, contractor marketing budget, GP to CAC ratio, customer acquisition cost, gross profit, painting business benchmarks, FP&A for small business, small business financial advisor, painting business profit, Profitable Painter This episode was originally recorded as a video for YouTube. If you hear me say things like “in this video” or reference visuals, don’t worry — the content still works perfectly in audio form. And if you ever want to watch the video version, you can find it on the  Profitable Painter YouTube channel. https://www.youtube.com/@BookkeepingForPainters

Send us Fan Mail 6 financial moves every painting business under $350K needs to get right first. Work with us https://profitablepaintercpa.com/vsl Free Book - Profitable Painter https://profitablepaintercpa.com/book If your painting business is doing less than about $350,000 a year, this is your roadmap. I break down exactly what I'd focus on financially if I were building a painting business from zero today. I'm Daniel Honan, CPA and former painting business owner. Since 2016, my firm Profitable Painter CPA has helped 529+ painting contractors with bookkeeping, taxes, payroll, automations, and financial strategy. Move 1: Production rate estimating (stop guessing your bids) Move 2: Markup vs margin - why 50% markup isn't a 50% margin Move 3: Job cost every week (labor and materials targets) Move 4: Build 2 months of overhead as cash in the bank Move 5: When an S Corp makes sense Move 6: Get the financial basics off your plate WHAT YOU'LL LEARN - How much to charge for painting jobs for a 50% gross profit margin - How production rates turn guessing into accurate budgeted labor hours - The weekly job costing habit that tells you WHY a job lost money, not just that it did - The direct labor and materials targets for a healthy painting company - How much cash your business should keep in the bank and what that money's actual job is - When it's worth having a CPA model an S Corporation election (and when it's too early) 🎯 Running a painting business under $350K? The Painters Startup Accelerator was built for exactly this stage. Work with us: https://profitablepaintercpa.com/vsl WHO I AM My name is Daniel Honan. I'm a CPA, a former painting business owner, and the founder of Profitable Painter CPA - an accounting firm that works exclusively with painting contractors. I make these podcasts to help painters keep more of what they earn and build more profitable businesses. Subscribe for weekly podcasts on taxes, bookkeeping, and financial strategy for painting businesses. Keywords: painting business, painting contractors, painting business finances, how much to charge for painting, painting estimates, production rate estimating, markup vs margin, job costing, gross profit margin, cash flow for contractors, S corporation for small business, small business bookkeeping, painting business profit, contractor pricing, Profitable Painter This episode was originally recorded as a video for YouTube. If you hear me say things like “in this video” or reference visuals, don’t worry — the content still works perfectly in audio form. And if you ever want to watch the video version, you can find it on the  Profitable Painter YouTube channel. https://www.youtube.com/@BookkeepingForPainters

Send us Fan Mail 12 tax strategies for painting business owners, explained in plain English by a CPA who's worked with 500+ painting businesses over the last 10 years. Work with us https://profitablepaintercpa.com/vsl Free Book - Profitable Painter https://profitablepaintercpa.com/book If you own a painting business and you've ever wondered "am I paying more in taxes than I need to?"  This is for you. I discussed 12 strategies one by one: how each works, who should consider it, and the mistakes to avoid. Strategy 1: Choosing the right entity (LLC vs S Corp) Strategy 2: Estimated taxes without the year-end surprise Strategy 3: Accountable plan (mileage, home office, cell phone) Strategy 4: Self-employed health insurance deduction Strategy 5: HSA - the triple tax advantage Strategy 6: Accelerated depreciation (Section 179, vehicles) Strategy 7: Board of advisors + the Augusta rule Strategy 8: Don't miss your spouse's employer match Strategy 9: Roth vs traditional retirement accounts Strategy 10: The right retirement plan for your business Strategy 11: PTET election (state tax workaround) Strategy 12: Hiring family members the right way WHAT YOU'LL LEARN - When an S Corp actually makes sense (and the $70K profit rule of thumb) - How to reimburse yourself tax-free for expenses you're already paying - How the Augusta rule lets your business rent your home for meetings - Why "it's a write-off" is the worst reason to buy a truck - How to pay your kids for legitimate work in the business - The documentation that separates real tax planning from an audit problem Subscribe for weekly podcasts on taxes, bookkeeping, and financial strategy for painting businesses. Keywords: painting business taxes, s corp for painting business, tax strategies for contractors, painting contractor tax deductions, when to elect s corp, augusta rule small business, hsa triple tax advantage, section 179 for contractors, hiring family members in your business, year end tax planning for contractors This episode was originally recorded as a video for YouTube. If you hear me say things like “in this video” or reference visuals, don’t worry — the content still works perfectly in audio form. And if you ever want to watch the video version, you can find it on the  Profitable Painter YouTube channel. https://www.youtube.com/@BookkeepingForPainters

Send us Fan Mail Daniel helps the owner of a $700K painting company who has been badly undercharging for overhead - marking up 10% when his real numbers call for far more. Daniel walks through a complete job-pricing model (fully-loaded labor + materials, an overhead multiplier built from the last 12 months, and a 15% net-profit target) and shows why the company's oversized team is inflating quotes to a 56% gross profit that's too high to win work. They also cover the margins needed to win general-contractor vs. residential jobs, the hidden cash-flow traps of GC work, and a bonus structure that ties team pay to profit and production. Work with us https://profitablepaintercpa.com/vsl Free Book - Profitable Painter https://profitablepaintercpa.com/book Keywords: how to price painting jobs, painting business overhead markup, painting contractor pricing strategy, painting business profit margins, general contractor painting margins, painter fully loaded labor cost, painting company gross profit target, growing a painting business to profitability, painting business owner compensation, residential repaint pricing rule of thumb This episode was originally recorded as a video for YouTube. If you hear me say things like “in this video” or reference visuals, don’t worry — the content still works perfectly in audio form. And if you ever want to watch the video version, you can find it on the  Profitable Painter YouTube channel. https://www.youtube.com/@BookkeepingForPainters For being a loyal listener, I want to send you a copy of my new book Profitable Painter. Inside, I’ll show you the exact frameworks that have helped painting businesses save big on taxes, increase profits, and scale with confidence Head over to profitablepaintercpa.com/book and grab your copy today. Don’t wait — this is my gift to you for being part of the Profitable Painter community.

Send us Fan Mail Daniel provides a roadmap for a business owner looking to optimize his painting company for an eventual sale and retirement in 12 to 14 years. The discussion focuses on immediate strategies to improve cash flow by increasing job deposits and long-term tactics to boost net profit from 11% to 30%. Key recommendations include refining the sales process by presenting in-home to increase close rates, implementing a "good, better, best" pricing model, and introducing an "on-time, on-budget" guarantee to justify higher markups. Work with us https://profitablepaintercpa.com/vsl Free Book - Profitable Painter https://profitablepaintercpa.com/book Keywords: painting business profit, increase painting margins, sell a painting business, painting contractor cash flow, painting sales process, painting business coaching, business exit strategy, painting estimate close rate This episode was originally recorded as a video for YouTube. If you hear me say things like “in this video” or reference visuals, don’t worry — the content still works perfectly in audio form. And if you ever want to watch the video version, you can find it on the  Profitable Painter YouTube channel. https://www.youtube.com/@BookkeepingForPainters This episode was originally recorded as a video for YouTube. If you hear me say things like “in this video” or reference visuals, don’t worry — the content still works perfectly in audio form. And if you ever want to watch the video version, you can find it on the  Profitable Painter YouTube channel. https://www.youtube.com/@BookkeepingForPainters