The Tax Cuts and Jobs Act of 2017 changed the depreciation rules for qualified real property. Contractors need to be aware of these changes, as well as how certain assets need to be depreciated or expensed under TCJA.
Everything Contractors Need to Know About the Tax Cuts and Jobs Act
Although the total impact of the Tax Cuts and Jobs Act (TCJA) will only be determined with time, certain changes that begin with the 2018 tax year will have an immediate impact on contractors.
An Early Look at New Revenue Recognition Rules for Construction Contractors
Topic 606, Revenue from Contracts with Customers, uses a principles-based model designed to improve consistency, comparability and usefulness of revenue disclosure. Here's a look at how it will impact the construction industry.
Will Opportunity Zones Accelerate Gentrification or Spur Critical Investment in Distressed Areas?
State and local officials will need to play a critical role in layering incentives to direct opportunity zone investment in projects with the greatest long-term benefits to local communities.
Topic 606’s Impact on Construction Contractors
Topic 606 effectively replaces all legacy rules around revenue recognition, making it one of the most time-consuming accounting projects for public companies since the Sarbanes-Oxley Act was enacted more than a decade ago. Here's how private companies can comply.
Helping Project Managers Be More Efficient
Project managers are the backbone of a construction firm. Give them the support they need by implementing project management software that is tied to the company’s construction accounting software.
Ten Tips to Help Contractors Make More Money
Whether a contractor is a sole proprietor or part of a team, there are easy ways to generate more money without taking on more projects. Here are a few ways to be more profitable in the construction industry.
Now Is the Time for Contractors to Prepare for the New Lease Standard
Contractors need to make sure they have systems in place to properly implement the new lease accounting standard, and they should be discussing any changes to their financial statements with their lenders and surety underwriters.










