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
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
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.
Potential Tax Implications of ASC Topic 606: Revenue From Contracts With Customers
New revenue recognition standards under FASB Accounting Standards Codification Topic 606 require companies to adopt new methods to recognize revenue from contracts with customers for book purposes.
Prepare Now to Survive Unexpected Changes in the Construction Supply Chain
A cultural change and willingness to embrace new processes will prepare the industry to meet rapidly growing demand, while reacting to inevitable disruptions in the global marketplace.
Considerations for Employee Benefit Audits
Construction firms can take precautionary steps to ensure successful employee benefit audits this year.
Timing Is Important in Reporting Profits and Losses
The timing of reporting income or deferring costs can have a significant impact on a contractor’s income tax liability. Implementing tax planning strategies can make a big difference.










