Construction Industry
A single construction dispute can turn a profitable job into a loss; multiple disputes can put a contractor out of business. Here are seven strategies for avoiding them: 1- Draft…
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Family-owned construction businesses often face distinctive challenges when it comes to creating a succession plan. Emotions can run high, and the business owner’s lifelong working legacy may be at stake.…
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Late last year, the Financial Accounting Standards Board granted a one-year reprieve from new lease accounting rules to private companies that comply with Generally Accepted Accounting Principles (GAAP). This means…
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Determining the market value of your construction business may be necessary or desirable for many reasons. Examples include a sale or merger, financing, succession planning, tax and estate planning, insurance…
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Indirect costs can have a substantial impact on a construction company’s financial picture and bottom line. But they’re not always the easiest things to “see.” Let’s zoom in to bring…
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After reaching a certain level of success, many construction companies struggle to keep up with employment and human resources (HR) tasks such as recruiting and hiring, payroll processing, and employee…
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Companies that qualify as “small businesses” enjoy several tax benefits, including simplified tax reporting and the ability to defer taxes under certain circumstances. Your construction company’s eligibility for these advantages…
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The forms provided in the Virginia Code for mechanic’s liens have been amended effective July 1, 2019. Virginia Code §43-5 will soon state: The memorandum and affidavit required by §43-4…
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Cybersecurity is an important issue for every business, but it’s particularly critical in the construction industry. Contractors are particularly vulnerable to hackers and other threats because of the mobile nature…
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The construction industry has been struggling with a skilled labor shortage for quite a while now. It’s not always easy to find good news on the topic, but here’s some:…
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