How Can Construction Companies Manage Cybersecurity Risks?
Construction contractors can spend their entire career bidding work, managing projects and handling cash flow issues, while on the way to a banner year. Then [...]
Congressional Tax Reform Bill Full of Changes
Tax Cuts and Jobs Act Impacts Businesses and Individuals Congressional Republicans have been working on a bill to simplify the tax code and reduce the [...]
Look-Back Interest on Long-Term Construction Contracts
If you are a construction contractor reporting long-term contracts on the percentage of completion method (§460(b)(1)) you may be required to calculate look-back interest (§460(b)(2)) [...]
Changes to Virginia Sales Tax Effective as of July 1, 2017
Each year the Virginia Legislature passes changes to the Virginia Tax Code that impacts residents and those doing business in Virginia. While many of the [...]
You Don’t Have to Take Business Insurance Costs Sitting Down
Adequate insurance coverage is, in many cases, a legal requirement for a business. Even if it’s not for your company, proper coverage remains a risk [...]
Cash Flow Considerations for Seasonal Businesses
Seasonal businesses often face intense cash flow fluctuations. It is important to optimize your operating cycle to prepare for the down time your company will [...]
Six Strategies for Your Tax Playbook
I’m looking forward to tax day. No, I’m not in a time warp. I do know that April 15th is behind us, and most people [...]
Employers: January 2017 Is Busier Than Ever with New Due Dates
December and January are undoubtedly busy times for businesses with closing out their calendar years, gathering documentation for their accountants, tax preparers, and auditors, and [...]
Navigating Long-Term Contract Tax Reporting Options
The tax reporting options for long term construction contracts can be perplexing. The rules are complex, sometimes counter-intuitive, and a bad decision or poor advice [...]
What ASU 2014-09 Means for Construction Contractors
On May 28, 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers. This significant undertaking – which resulted [...]