July, 2018

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Focus on Collaboration: The Estimator’s Changing Role

Technological innovations and other recent developments are rapidly altering the job of the estimator in construction. Estimators are taking on a more collaborative, value-added role — enabling them to have a significant impact on project costs, quality and risk management. Let’s look at some of the most important changes. BetterRead More …

Are you ready for the new revenue recognition standard?

It’s been eight years since the Financial Accounting Standards Board (FASB) first proposed an overhaul of its revenue recognition standard and four years since it issued the new standard. Now the standard’s effective date is finally approaching — Jan. 1, 2019, for calendar-year nonpublic companies that comply with Generally Accepted AccountingRead More …

Lock Down Financial Assets with the Right Controls

You’ve got a fence around the job site. Your heavy equipment is turned off and the keys stored securely. Your materials are tied down and, where possible, kept out of sight. But what about your financial assets? Are you protecting those as carefully as your physical assets? Many contractors worryRead More …

Leveraging Fringe Benefits to Reduce Costs

Construction is a highly competitive industry in the private sector. But when it comes to public projects, winning a job can be even more cutthroat. That’s because government jobs are often subject to prevailing wage laws, such as the federal Davis-Bacon Act or the “little Davis-Bacon acts” that have beenRead More …

4 Questions to Ask Before Hiring Household Help

When you hire someone to work in your home, you may become an employer. Thus, you may have specific tax obligations, such as withholding and paying Social Security and Medicare (FICA) taxes and possibly federal and state unemployment insurance. Here are four questions to ask before you say, “You’re hired.”Read More …

Don’t Let the Kiddie Tax Play Costly Games with You

It’s not uncommon for parents, grandparents and others to make financial gifts to minors and young adults. Perhaps you want to transfer some appreciated stock to a child or grandchild to start them on their journey toward successful wealth management. Or maybe you simply want to remove some assets from yourRead More …

Retirement Plan Options for Business Owners

As a business owner, you may have most of your money tied up in your company — making saving for retirement especially challenging. If you haven’t already set up a tax-advantaged retirement plan, think about setting one up this year. Keep in mind that, if you have employees, they generallyRead More …