Taxes

Potential Tax Implications of ASC Topic 606: Revenue From Contracts With Customers

by RubinBrown LLP | Feb 2, 2020
Accounting | Business | Finance | Taxes

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.

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

by Richard P. Higgins | Jan 14, 2020
Accounting | Risk Management | Safety | Taxes

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.

Considerations When Balancing Strong Financial Statements and Tax Savings

by Robert Mercado, Taryn Smith | Dec 15, 2019
Accounting | Business | Finance | Taxes

Often, the primary focus for year-end is the tax liability based on the company’s annual earnings. However, sometimes the requirements for financial reporting purposes conflict with expectations regarding taxable income. Planning for this is essential.

Year-End Tax Planning Strategies for Contractors

by Jacquelyn Himes | Oct 24, 2019
Accounting | Risk Management | Safety | Taxes

Taking a strategic approach to tax planning can be beneficial, contractors should weigh costs verses benefits before implementing any tax planning strategy.

Worker Classification: Employee or Independent Contractor?

by Lariza Hebert | Aug 24, 2019
Human Resources | Law | Legal and Regulatory | Taxes

Government crack-downs on misclassification of employees, along with class-action lawsuits challenging the classification of some employees, could cost an employer back pay, liquidated damages and fines.

2019 Executive Insights: Construction Accounting

Industry experts share insights and best practices for construction accounting.

Construction Accounting Methods for Financial Reporting and Income Tax Reporting

Here are several scenarios highlighting the accounting treatments available to construction contractors that may differentiate their financial reporting from their income tax reporting.

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Potential Tax Implications of ASC Topic 606: Revenue From Contracts With Customers

Considerations for Employee Benefit Audits

Timing Is Important in Reporting Profits and Losses

Considerations When Balancing Strong Financial Statements and Tax Savings

Year-End Tax Planning Strategies for Contractors

Worker Classification: Employee or Independent Contractor?

2019 Executive Insights: Construction Accounting

Construction Accounting Methods for Financial Reporting and Income Tax Reporting

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