construction
Is your business constantly replacing its tools and small equipment? Certain items that can fit in a backpack, pocket, or even the armrest of a vehicle — such as power…
Some contractors might assume hackers won’t bother with smaller construction businesses. Sadly, they’d be wrong. Construction companies tend to hire a larger number of employees, which means they store lots…
The construction industry is renowned for its quality craftsmanship. However, it’s also sometimes known for a historical reluctance to adopt new technology. When it comes to your construction company’s accounting…
What is Nexus? As your business grows and expands to provide goods or services to other states outside of your home state, you could potentially trigger tax filing requirements in…
Nearly every type of business could be affected by occupational fraud, and construction businesses are certainly no exception. In fact, the Association of Certified Fraud Examiners (ACFE) reports that construction…
For small to midsize construction businesses, recruiting and retaining employees is a challenge. There’s not only a shortage of qualified workers, but also the inflation-driven rise in the costs of…
Some construction projects are too big or too complex for one general contractor alone. In such instances, a viable solution may be for two construction businesses to form a joint…
Cash flow is the lifeblood of every business, but it’s especially vital for construction companies. In an industry characterized by razor-thin profit margins, solid cash management practices can make the…
Construction companies are required to obtain surety bonds on many types of projects — particularly those that are publicly funded. The bonds essentially guarantee that the work will be completed…
Accurate estimates are at the heart of every construction company’s financial success. They provide your team with a foundation to create project budgets, control costs, manage cash flow and, one…
Section 179D of the Internal Revenue Code allows a deduction for the cost of energy-efficient improvements to new or existing commercial buildings, as well as certain residential rental buildings. Originally…
Here’s an often-overlooked fact: Meticulous recordkeeping plays a key role in running a successful construction business. Without proper documentation, you’ll likely struggle to support your position if a dispute arises.…
Section 263A is an often misunderstood and misapplied part of the Internal Revenue Code. And it’s one that many construction businesses — particularly homebuilders — should get a handle on…
When you go to the doctor, the first thing the medical staff likely does is check vital signs such as your temperature and blood pressure. They do so because, if…
Artificial intelligence (AI) has been receiving plenty of press coverage lately, much of it negative. Like many technological innovations, AI is certainly susceptible to abuse and it’s far from infallible.…