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.
The Lease Accounting Fallout From COVID-19
Many contractors were relieved that due to COVID-19, the FASB issued an ASU on June 3 that granted a one-year effective date delay for applying the lease accounting and revenue recognition standards.
Working Capital: It’s Not Just Math
For a user of a contractor’s financial statement, such as a surety and a professional surety agent, working capital is a great indicator of a contractor’s immediate financial prowess.
Cash Is Still King: The Importance of Projecting Cash Flow
Implementing these financial practices can mitigate potential cash flow setbacks on a project, while increasing profitability and longevity.
The Importance of Data Analytics in Finance
With improved financial management through analytics, construction companies will be positioned to survive the economic downturn and seize opportunities for expansion.
PPP Loan Forgiveness: What Is Known So Far
Here’s what contractors should to know about the Paycheck Protection Program loans and forgiveness.
Understanding the Impacts of Implementing Topic 606
Understanding the ramifications of Topic 606 and the differences between the varying financial reporting and tax rules is imperative.
Why Contractors Should Consider Selling Their Business Despite COVID-19
Even in less-than-ideal cases, businesses can emerge from an M&A transaction content with the hand they were dealt and with a positive outlook for their future.
