contractor

Clearing the Higher Bar for Disruption Damages

It’s not unusual for a contractor to seek damages when an owner’s actions delay completion of a project. The contractor may pursue a variety of increased costs flowing from the…

Tax Planning: Don’t Forget About the CAA

Remember the Consolidated Appropriations Act (CAA)? It was signed into law on December 27, 2020, providing relief to individuals and businesses affected by the COVID-19 pandemic. In addition to reducing…

Connecting Your Succession Plan to Your Estate Plan

For any business owner, contractors included, putting together a succession plan may seem like an overwhelming task. Often, among the most difficult things to conceptualize is precisely how to connect…

Boost Cash Flow with Savvy Accounts Payable Strategies

Managing accounts payable is a critical task for any business, but it’s particularly important for construction companies. Most contractors juggle payments to a variety of subcontractors, suppliers and other entities.…

Accurate Job Schedules Add Value to Financial Reporting

When many contractors read the term “financial reporting,” they may naturally think of their financial statements. However, another important aspect of financial reporting is the regular and consistent handling of…

Asking for Forgiveness? Contractors Should Handle PPP Loans with Care

Many construction companies have taken advantage of the Paycheck Protection Program (PPP) loans during the COVID-19 pandemic. Established under the CARES Act, the PPP provided eligible businesses with loans —…

Virginia mechanic's lien forms have been ammended

Virginia Mechanic’s Lien Form Amendment

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…

Should Your Construction Company Conduct a Cybersecurity Assessment?

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…

Help Build Tomorrow’s Workforce with an Apprenticeship Program

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:…

construction meal and entertainment expenses

Deductibility of Meals and Entertainment Expenses After Tax Reform

The Tax Cuts and Jobs Act (TCJA) made significant changes to the deductibility of meal and entertainment expenses. Unfortunately, there’s still a great deal of confusion about which deductions have…

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