Construction companies build the world around us, but they operate with surprisingly tight profit margins averaging around 3.5%. With material costs rising and things getting even tighter in some markets,
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As a construction contractor, if you received a Paycheck Protection Program loan over $2 million, you are going to be required to complete a form that verifies your need for
The US government introduced Section 45Q of the US Internal Revenue Code to encourage businesses to be eco-friendlier. How exactly does 45Q encourage eco-friendliness, and who is eligible for 45Q
When it comes to the construction industry, nailing a multi-year, long-term contract is the holy grail, but it can be a bit challenging when it comes to the accounting process.
Recent changes in accounting standards will have a big impact on construction accounting. Accounting Standards Codification 842 (ASC 842) was implemented in December 2018 for public companies, and private companies
Internal Revenue Code (IRC) Section 263A of the Uniform Capitalization (UNICAP) lists what costs to capitalize. Cost capitalization turns cost into a recorded asset with future economic value rather than
Construction company owners have to pull out all the stops to maximize profits in a competitive niche. A reliable way to cut costs is to lower your tax liability by
If you’re a contractor feeling unsure how to increase your overall bonding capacity, we’re here to help. Or maybe you’re not even aware of the current maximum bond value for
The United States Congress recently signed the Tax Cuts and Jobs Act, and it is the most important tax reform legislation that is beneficial to business in the country particularly
The construction industry is experiencing a wide variety of risks due to the complexity of its project environment. Risk is defined as the probability of setback, injury, loss, or disadvantage