Shutdowns caused by the COVID-19 pandemic have lead to worldwide supply chain disruptions, leading construction firms to have costly job delaysRead More
Archive for the ‘Construction’ Category
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Cares Act Provisions May Boost Cash Flow
Here are CARES Act provisions that can help construction companies (and other businesses) reduce their tax bills and, thereby, boost their cash flows.Read More
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Lease Accounting for Contractors: New Rules on the Way
It’s been 13 years since the Financial Accounting Standards Board (FASB) started overhauling its lease standard. For some time now, the new rules have been scheduled to…Read More
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Pursuing and Defending Construction Claims
Construction projects require cooperation and coordination among a long list of participants including architects, contractors, subcontractors and others.Read More
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Lowering the Bar on Performance and Payment Bonding
Acquiring or increasing your firm’s bonding capacity can open a whole new market of jobs. It can allow you to take on a multitude of public works…Read More
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Use Financial Statements to Make a Solid First Impression
Financial statements are a must-have for any organization. The balance sheet reveals how much its assets and liabilities are worth based on historic costs. The income statement tells…Read More
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Enhance Motivation and Profitability with Bonuses for Project Teams
As an employer, you want effective job managers who think on their feet. By the same token, your foremen want to please you because you’re the one who…Read More
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Avoid Trailing Punch-Out Costs to Close the Book on Finished Projects
Customer relationships with general contractors or owners who give your firm regular work can be like family relationships. One specialty subcontractor remarked about his work relationships that, “You…Read More
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Tax Court Sets Boundaries on Commuting Deductions
Although you usually can’t deduct typical “commuting” expenses from home, you may qualify for a special exception if you’re away working on temporary assignments. But the IRS…Read More