Accounting

Take Advantage of Deferred Tax Liability for Construction Contracts

by Don Singleton | Feb 27, 2018
Accounting | Business | Contracts | Taxes

There are numerous ways that tax reporting for construction contracts can create taxable temporary differences and thus a deferred tax liability for financial reporting. Here's how.

The Risk (and Inevitability) of Change Orders on a Construction Project

by Eric Goldstein | Feb 13, 2018
Accounting | Safety

With construction accounting software, contractors can make sure change orders are properly tracked and billed, reducing risk and preserving profits.

Tools to Help Contractors Defer Income Tax

by Don Singleton, Kenneth Padgitt | Feb 13, 2018
Accounting | Business | Taxes

Several tools are available to construction contractors to defer income tax liabilities. Often, these tools are not being used effectively—or even being taken advantage of at all.

New Tax Law Tools to Add to Contractors’ Tool Belts

by Laura Culp | Feb 5, 2018
Accounting | Business | Taxes

The first major tax overhaul in decades is now a reality. Its provisions will impact the construction industry in positive and negative ways. Construction industry leaders need to fully understand the law, assess their unique situations and make decisions in response that position their businesses for long-term success.

Leverage Cost Segregation for Significant Tax Deferrals

by Louis Guay | Jan 23, 2018
Accounting | Business | Finance | Taxes

Cost segregation can lead to significant tax deferrals, a boost in cash flow and an increase in capital immediately available for new projects—and the new tax law has made it even more valuable for a limited time.

Plan Now for Tax Season

by James Lundy | Nov 28, 2017
Accounting | Business | Taxes

It is essential that construction companies' operations be reviewed prior to year-end while considering the savings available from tax methods, depreciation, related party payments and other tax deductions and credits.

Implementing ASC 606

by Construction Executive | Nov 2, 2017
Accounting | Business | Contracts

FASB’s new revenue recognition standard, ASC 606, takes effect in December 2018 and will significantly affect how contractors recognize revenue.

Millennials Spend Less on Business Travel Than Older Employees

by Construction Executive | Oct 23, 2017
Accounting | Business

Average dining, hotel and entertainment expenses for employees between the ages of 36 and 65 totaled $8,596 over two years compared to $5,188 for employees between the ages of 22 and 35.

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Take Advantage of Deferred Tax Liability for Construction Contracts

The Risk (and Inevitability) of Change Orders on a Construction Project

Tools to Help Contractors Defer Income Tax

New Tax Law Tools to Add to Contractors’ Tool Belts

Leverage Cost Segregation for Significant Tax Deferrals

Plan Now for Tax Season

Implementing ASC 606

Millennials Spend Less on Business Travel Than Older Employees

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