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How should a Painting Business pay its Key Hires? Daniel Honan, CPA, and Cody Hall break down what a $25-an-hour painter really costs, why the admin usually comes first at 2 to 4% of revenue, and how to pay a production manager 4 to 7% of revenue with a two-thirds base and a monthly bonus tied to production, gross profit, and five-star reviews. They cover hunter and farmer salespeople and a commission split that stops discounting, why the $1M to $3M stage is the least profitable as a percentage of revenue, and why a second location usually doubles your overhead. Daniel also explains the vehicle cost check for how far you drive, which receipts the IRS looks at closely, and how a revocable living trust protects your family and your privacy.

Know Your Numbers & Save Big in Taxes,
Daniel Honan, CPA

Every episode is made for painting business owners. Follow the show so the next one downloads automatically.

FREE BOOK FOR PAINTING CONTRACTORS
Free, just cover shipping.
Get your copy here: profitablepaintercpa.com/book

WANT DANIEL TO LOOK AT YOUR NUMBERS?
Join 529+ painting contractors who know exactly where their money goes, keep more of what they earn, and scale without tax surprises.
Book a free Profit Checkup here: profitablepaintercpa.com/vsl

Prefer video? Watch this episode on YouTube

What We Discuss:
00:00 Why growing a painting business is expensive
03:02 Key hires and the 4 stages of a painting business
03:39 What a $25/hour painter really costs you
04:52 Why the admin usually comes first
07:08 How to pay a production manager
10:53 $65K base + $35K bonus, paid monthly
12:52 Bonusing on gross profit and 5-star reviews
15:36 How to get more Google reviews
17:38 Hunter or farmer: which salesperson you need
20:47 Paying sales without rewarding discounts
22:47 When to open a second location
27:51 How far to drive for jobs: the vehicle cost check
29:56 Company cards, fuel, and internal controls
33:23 Do you need a receipt for everything?
37:00 Succession plans and revocable living trusts
43:49 "Why am I even running this business?"

Profitable Painter CPA – accounting and financial strategy for painting contractors. Visit us profitablepaintercpa.com

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.

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Can you deduct Health Insurance in your Painting Business? Daniel Honan, CPA, breaks down three ways painting business owners may be able to save on taxes with health insurance. He starts with the self-employed health insurance deduction, who qualifies, and why eligibility matters more than simply turning down a spouse's plan. He then covers the special rule for S-corp owners with more than 2%, where the company pays or reimburses the premiums and reports them on the owner's W-2, plus the payroll mistake that surfaces after the last payroll of the year. Finally, he explains how an HSA paired with an eligible plan can give you a deduction, tax-deferred growth, and tax-free qualified medical withdrawals, and what to compare before choosing a plan.

Know Your Numbers & Save Big in Taxes,
Daniel Honan, CPA

Every episode is made for painting business owners. Follow the show so the next one downloads automatically.

FREE BOOK FOR PAINTING CONTRACTORS
Free, just cover shipping.
Get your copy here: profitablepaintercpa.com/book

WANT DANIEL TO LOOK AT YOUR NUMBERS?
Join 529+ painting contractors who know exactly where their money goes, keep more of what they earn, and scale without tax surprises.
Book a free Profit Checkup here: profitablepaintercpa.com/vsl

Prefer video? Watch this episode on YouTube

What We Discuss:
00:00 3 ways to save on taxes with health insurance
00:49 Health insurance mistakes painters make
01:10 Level 1: the self-employed health insurance deduction
02:37 Level 2: S-corp health insurance for owners
03:17 The S-corp payroll mistake to avoid
03:47 Level 3: the HSA and its three tax benefits
05:40 Quick summary

Profitable Painter CPA – accounting and financial strategy for painting contractors. Visit us profitablepaintercpa.com

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 do you know if your Painting Business is actually profitable? Daniel Honan, CPA, and Cody Hall, who runs business development at Profitable Painter CPA, break down the numbers that answer it. They start with the ratio Daniel calls the key number for how your business is doing and the 3-to-1 bare minimum behind it, then move to job costing, why a job bid at 50% gross profit comes in at 35%, and the markup fix. From there they cover the close rate that signals you have room to raise prices, how often to check it, how a $15M painting company times its price increases, and the rule of three. They close with what a P&L actually shows, why it can report $35,000 in profit you never see in the bank, why clean books matter to banks and buyers, and what to do if you're years behind on your taxes.

Know Your Numbers & Save Big in Taxes,
Daniel Honan, CPA

Every episode is made for painting business owners. Follow the show so the next one downloads automatically.

FREE BOOK FOR PAINTING CONTRACTORS
Free, just cover shipping.
Get your copy here: profitablepaintercpa.com/book

WANT DANIEL TO LOOK AT YOUR NUMBERS?
Join 529+ painting contractors who know exactly where their money goes, keep more of what they earn, and scale without tax surprises.
Book a free Profit Checkup here: profitablepaintercpa.com/vsl

Prefer video? Watch this episode on YouTube

What We Discuss:
00:00 Why your profit never matches your bank account
03:00 The key number for how your business is doing
06:07 Job costing: is each job profitable?
07:50 Why jobs never hit the gross profit you bid
10:13 "I'm already the most expensive painter"
12:29 How often to check your close rate
14:02 How a $15M painter decides when to raise prices
18:41 What a P&L shows and how often to read it
21:46 $35K profit on paper, not in the bank
26:14 Why clean books matter to banks and buyers
28:23 Taking cash off the books, and catching up on taxes

Profitable Painter CPA – accounting and financial strategy for painting contractors. Visit us profitablepaintercpa.com

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.