Accounting

Maintain Strong Internal Controls in the Wake of COVID-19

While the current COVID-19 environment is very challenging, some companies are instituting positive changes that may actually yield a stronger, more-efficient and modern approach to internal controls.

Three Mistakes Contractors Make When Filing Preliminary Notices

by Patrick Hogan | Apr 15, 2020
Accounting | Business | Finance

To file a mechanics lien, construction businesses need to be careful not to commit errors in serving a preliminary notice. Here are some common but fatal preliminary notice mistakes construction businesses need to know.

How Coronavirus Is Impacting the Construction Industry

The IRS extended the deadline to file tax returns and pay taxes, relieving some immediate financial fears for contractors related to COVID-19. Here are a few ways contractors can lessen the impact of the virus on other areas of their businesses.

COVID-19 Tax-Free Section 139 Benefits

by David E. Rogers, Ruth M. Wimer | Mar 18, 2020
Accounting | Business | Finance

The COVID-19 pandemic is now the type of disaster for which an employer may reimburse employees for disaster-related expenses on a tax-free basis, free from Form W-2 or Form 1099 reporting.

Cash Basis Method of Accounting Opens Doors in the Construction Industry

by Stephen J. Slade | Mar 10, 2020
Accounting | Business | Finance

The cash basis method of accounting has been available for small businesses grossing $10 million or less per year, and the threshold has now more than doubled. Today, if a business generates revenue of up to $26 million, it can take advantage of this accounting strategy.

G&A Expenses: A Guide to Allocating Overhead Costs

by Matthew J. Boland | Mar 4, 2020
Accounting | Business | Finance

Smart contractors understand the relationship between overhead costs and job profitability. Contractors that ignore these costs or fail to allocate them to each job risk losing money.

Four Mistakes to Avoid on Certified Payroll Reporting

by Randy Leiker | Mar 3, 2020
Accounting | Business | Business Development

While there are few ways to improve the burdensome requirements associated with government work, there are ways to limit the risk. By preventing common certified payroll reporting errors, contractors reduce their exposure to financial and legal risks associated with noncompliance.

Stay in Control: Seamless Project Finance Management Is Key to Success

With improved project control over operational and financial performance, construction businesses can become more transparent and efficient.

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Maintain Strong Internal Controls in the Wake of COVID-19

Three Mistakes Contractors Make When Filing Preliminary Notices

How Coronavirus Is Impacting the Construction Industry

COVID-19 Tax-Free Section 139 Benefits

Cash Basis Method of Accounting Opens Doors in the Construction Industry

G&A Expenses: A Guide to Allocating Overhead Costs

Four Mistakes to Avoid on Certified Payroll Reporting

Stay in Control: Seamless Project Finance Management Is Key to Success

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