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Rob Wood

Enrolled Agent, Founder of Wood & Sons Accounting & Tax

A fourth-generation entrepreneur who left doctors and dentists behind to help contractors figure out why busy still doesn't mean profitable

Rob Wood

Background

About Rob

Tax PlanningJob CostingIRS RepresentationBookkeepingCash FlowBusiness Exits

Rob Wood, EA, is the founder of Wood & Sons Accounting & Tax in New Port Richey, Florida. He's an Enrolled Agent licensed by the U.S. Department of the Treasury, which means he represents taxpayers directly before the IRS. His clients are contractors, trades businesses, and small business owners who need their numbers translated into decisions — about hiring, about equipment, about what to do before the year closes. He grew up blue collar in the cornfields of Michigan with a race car mechanic for a father and a dynamometer in the shed.

Rob has 15 years in accounting and tax, with his own firm and offices in East Lansing, Houston, and Tampa. He spent 12 years working with doctors and dentists before deciding he'd rather work with the people who build America. The family name he carries turns 100 next year. His approach is plainspoken and operational: job costing, clean books, the difference between profit and cash, and tax planning that happens in October rather than April. He signs clients up on Form 2848 so IRS letters land on his desk instead of theirs.

Rob joined Hugh Hornsby on Blue Collar Smart for a blunt conversation about why booked-solid trades businesses still run out of money. They covered the job costing gap that hides losing work behind growing revenue, the three financial statements and the three different questions they answer, and what happens to a sale price when an owner has been running personal spending through the company. Rob also laid out what real year-end tax planning looks like and how to pick an accountant you can actually tell the truth to.

Key Insights

What Rob brings to the conversation.

01

Without job-level numbers, every growth decision is a guess.

Rob watches electricians choose between residential and commercial work on gut feel or whichever call came in last. "If you don't know truly what you're losing your money on, you can't exactly make those educated decisions." Adding work that loses money on every ticket just digs a bigger hole faster.

02

Profit and cash are two separate questions with two separate reports.

The profit and loss tells you whether you're making money. The balance sheet tells you where the money went. Cash flow tells you whether you can sustain it. Rob has seen businesses that are profitable on paper and still have nothing in the account.

03

Seller's discretionary expenses are the first thing a broker finds.

Running personal spending through the company makes a business harder to value and harder to trust. Rob's fix: pay yourself a proper salary, take a W-2 if you're an S corp, keep business accounts for business, and give yourself two to three years of clean books before a sale.

04

Phantom receivables can cost you real tax dollars.

Rob has seen field software and QuickBooks fall out of sync, leaving accounts receivable on the books that don't exist. An extra $100,000 in AR that was never real can mean roughly $20,000 in tax you never owed. Reconcile the two systems.

05

Walking in with a box of receipts in April means there is nothing left to plan.

Rob's planning window runs from late October through year end: accelerating expenses, sorting fixed from variable, finding vendors to prepay, and deciding whether equipment is actually needed rather than bought reflexively for the deduction.

Featured Conversation

Rob Wood: Why Busy Contractors Still Go Broke

Episode 18 · November 12, 2026

Rob Wood: Why Busy Contractors Still Go Broke

Accountant Rob Wood of Wood and Sons explains job costing, cash flow, clean books, and year-round tax planning that keep trades businesses profitable and sale-ready.

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