Cash Flow Considerations in the Bidding Process
By considering cash flow in the bidding process, a contractor should be better prepared to complete each phase of construction based on the inflow and outflow of cash.
The Construction Business Case for Leveraging Payment Processing Solutions
Construction firms looking for ways to protect cash flow and tap into cost savings can turn to innovative payment processing solutions.
Get Direct About Indirect Costs in Construction
Understanding a contractor’s true cost, including direct and—just as important—indirect costs, is imperative for success.
Contractors Can Do Better Than ‘Back to Normal’ in 2021
Before coronavirus, “normal” meant waiting an average of 80+ days for payment, needing to withhold retainage payments to pad their own pockets and other difficult situations. This year, contractors should set the bar higher than normal.
Tax Planning for 2021: What Can Construction Firms Do?
In this environment of increased uncertainty, tax planning is not only possible, it is a critical step in preparing for 2021.
Get Ready for the New Lease Standard
ASU 842 was set to take effect for December 2020 year-ends, but was deferred due to the pandemic. Contractors should take the extra time to understand how management and outside credit-extending companies will view their financial statements under the new standard.
Tax Questions Every Contractor Should Consider Entering 2021
At the start of 2021, contractors should consider the following questions to determine if they have taken advantage of all available tax elections.
Keeping the ‘Lion’s Share’: The Appeal of Defined-Benefit Retirement Plans
Qualified retirement plans are an excellent way to grow tax-deferred money for retirement and to protect assets from unjust lawsuits. In addition, contributions to qualified retirement plans generate tax deductions.
