construction
Earned wage access (EWA) is catching on across various industries. Many different types of employers are using it to help attract and retain employees, but is it a viable option…
When project owners invest in construction jobs, they invariably look for long-term value. Whether road, residence or commercial real estate, the final deliverable needs to stand the test of time…
Contractors often struggle to find suitable buyers for their companies when they’re ready to retire or otherwise move on. That may be why many construction businesses implement employee stock ownership…
Under a performance bond, a legally binding agreement is established between a construction company, a surety (the bond provider) and a project owner. Essentially, the bond guarantees that the business…
If you’re like most busy construction business owners, you have plenty on your plate. Adding anything more to it is likely a tall order unless that item is going to…
Construction technology has been growing and improving in a variety of ways. Much of the focus is on front-office technologies such as project management systems and building information management software.…
Slow payments create many problems for construction companies. They reduce cash flow, undermine profitability, and shrink the working capital needed to fund current projects and other expenses related to day-to-day…
Businesses structured as partnerships, S corporations or limited liability companies generally aren’t subject to the federal corporate income tax. This is because tax liability “passes through” such entities to each business…
The Tax Cuts and Jobs Act (TCJA), enacted in December 2017, introduced several significant provisions that have influenced various sectors, including the construction industry. As key provisions approach their expiration…
When the pandemic hit in 2020, the federal government rolled out the Employee Retention Tax Credit (ERTC) under the CARES Act. Federal government officials and lawmakers created the credit to…
When you read the words “construction software,” the first thing that may come to mind is an application that helps you plan or execute projects. Although this is certainly common,…
In the construction business, backlog is generally defined as the total value of all the projects a construction company has signed contracts for but has yet to complete. The construction…
Construction businesses are an attractive target for ransomware attacks. In fact, according to a recent study by NordLocker, a developer of encryption software, the construction industry was targeted more often…
The construction industry is more competitive than ever, so accurate estimates are critical. Labor is usually among the largest costs associated with any project; even small errors in this part…
Nearly 8 million people are employed within the Construction sector of the United States. A great way to access that network of people is through professional associations. Not only can…