Do you have a strategic plan for your business? “Measure twice, cut once” is a common saying among construction professionals. You know the value of looking before you leap, of
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Is your trade or business involved in constructing, renovating, or acquiring commercial real estate? Practically, any commercial owner will benefit from a Cost Segregation Analysis. These studies involve differentiating among
So here you are. You’ve worked like a dog since the time you were little. You always knew that you wanted to work for yourself, so eventually, you went out
During 2016, The Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016 – 02, Leases. The purpose of the update is to address transparency and improve reporting of
Accounting methods used in the construction industry are unique and typically require a business owner to use two different methods of accounting for their construction activity – one for the
You may have heard the terms UNICAP or 263A, but what does it mean? IRC Section 263A details the uniform capitalization (UNICAP) rules that require certain costs normally expensed to
How to Better Control Direct Construction Costs With rising materials costs and downward price pressures, it is more important than ever to manage project expenditures. There are fewer jobs out
How can the DPAD help construction companies save? The Domestic Production Activities Deduction (DPAD) is a term that every owner of a construction company should know. It is a free
When clients call me looking to create tax deductions before year end, I generally deliver the bad news that if they want to bring their taxable income down they are
The main goal for a construction contracting company is to carry out a construction project’s work in a way that meets the project’s objectives, at a high level of quality.